Five Business Trends to Watch For in 2016
By Pet Product News Staff
The presidential election and major technological changes are likely to affect small business in 2016, according to trend researchers Russ Fujioka and Gene Marks on entrepreneur.com.
Here are their five trends to watch for:
- What they call the on-demand economy—with an expanding freelance workforce—is growing. Minimum wage laws, amongst other legislative moves—are likely to accelerate this trend, aided by technology.
- Relax. The government is unlikely to make any significant moves this year, which will be dominated by the election.
- Borrowing is becoming harder for small businesses as credit tightens.
- The cost of tech is decreasing—giving small business access to analytics and data that were once exclusively available to bigger companies.
- This will be the year of the cloud—with more small companies exploiting the technology.