From the new cybersecurity threats to the rise of gig economy, theses are the trends worth watching.

After years of steady growth many entrepreneur’s are keeping an eye on macro-trends that can hint at where the economy is going next. Learn what your customers are expecting from their brands and begin to evolve your service accordingly. Small businesses should keep an eye on these seven emerging trends.

Task Automation

If you think automation means big corporations replacing human employee with fancy robots-think again. Chances are, as a small business owner, you are already using some automation tools in your business and personal life.

If you use applications such as G Suite, IFTT, Hoot Suite or like to save time and get more done-you are already tapping into the power of automation. Forester Analytics predicts that companies in future will opt for ways to become efficient while saving their money.

Contrary to what news headlines would have you believe, task automation doesn’t mean robots are coming to steal our jobs. Instead companies will now focus on up-sliding their workers, investing in proficient development and leaving manual, repetitive task to algorithms.

Going Green

Going green is growing increasing popularity, especially now that the population of the United States is projected to hit 394 million by 2050 while the world population will reach 9.7 billion by the same year, increasing the competition for resources even further. Companies of all sizes are beginning to realize they can play a substantial role in protecting the environment while those left being are being pressure by their customers to catch up.

In the long term going green can also result in huge savings for your company.

The benefits of Going Green

  • Stop small waste from adding up over time.
  • Save money by going digital
  • Get governments awards for going green.
  • Realize the PR Dream
  • Go green without demolishing your budget.

It can be easier to go green with your business than you might think; and its certainly worth doing.

The Gig Economy

The gig economy is becoming one of the most important tools for businesses to find talent. Right now, a third of all jobs are in the gig economy. The gig economy allows you to find the best contractors on their term and within your budget. This economic shift bringing a global market within the reach of small businesses and no one needs to fly.

The gig economy allows small businesses to scale up and down according to their business needs. For example, instead of hiring a full time employee to complete a job requirement, small business can hire a small contractor when a surge happens. After the skill set is no longer needed, the contract ends without creating any disturbance or unemployment compensation required. In addition the gig economy serves small businesses money because they are not encumbered with payroll taxes benefits, etc. Partnerships are being framed through gig applications to increase both company capacity to go for longer contracts.

By some estimates, there are already 57 million people working in the US economy at the moment. Most of the workers are remote. You can see that remote and gig workers tend to be more motivated, more flexible and more committed to professional development than those in the traditional roles. Remote and gig workers are valuable for growing your team.

Amazon’s FBA

E-commerce is growing rapidly and for small businesses seeking to get a foot land, Fulfilment by Amazon might be the tool you are seeking. FBA allows sellers of products to market through Amazon, reaching customer all over the world. List your product on Amazon and avoid the headache of storage, packing, shipping and customer service.

Once you ship your product to an Amazon fulfilment centers, the e-retailer takes care of the rest and you pay a portion of sales to Amazon in return.

Virtual Reality and Augmented Reality

Along with the automation software, it is said that VR and AR will become the biggest advanced technologies for brands in interacting with their customers.

The market of AR and VR is predicted to expand by 34.5% from 2019 to 2025. Adopters of VR and AR include real estate marketers, training programs, gamming and even for corporate team building exercises.

The Need for Data Protection

For small businesses, the most important reason to comply with data laws is to avoid the penalties. Another reason to ensure good data protection is that it will create trust in both your employee and your customer.

Both groups want to know that their private information is as safe as possible in your hands and will always be open and honest on its usage.

Personalized Customer Service

The relationship between the customer and the business is constantly evolving. For instance, on Amazon’s homepage each customer gets specific product suggestions based on their profile and search history. This kind of personalized service that delivers highly specific recommendations to customers, is becoming the norm, rather than the exception.