2015 is expected to be an exciting year in the world of small business. As advancements and developments that have appeared in the last few years continue to be further developed and refined, several noticeable evolutions in the world of entrepreneurs will soon come to light. Some of these developments include:
· The rise of alternative capital flow – Since the beginning of business, one of the entrepreneur's biggest concerns and obstacles has been capital. Small businesses need to keep money flowing in order to keep their doors open and continue providing their services, but even businesses with great products and high levels of customer service often find themselves struggling to keep capital flowing in through traditional channels. 2014 saw several capital flow alternatives appear, such as Square's peer-to-peer lending products and other non-traditional business loans. Expect these alternative funding avenues to gain further traction in 2015, and for small business owners to start really taking advantage of them.
· The consolidation of small business apps- When mobile technology first appeared, it led to an explosion of apps made for small businesses. At first, these apps brought new levels of flexibility to small business operations, but the sheer number of apps used by the average small business is now having the opposite effect. According to a recent Intermedia study, the average small business currently uses 14.3 different apps, a number that is making them more of a burden than a boon. To avoid app overload (and the resulting program-jumping that saps productivity), small businesses are switching to integrated dashboard programs that include the functionality of all their apps combined into one location. 2015 will see more businesses switching to these dashboards in order to consolidate their technological capabilities without having to deal with 10+ apps at a time just to get their work done.
· 3D printing will lead to more small batch manufacturing – Traditionally, even getting started in the manufacturing industry required lots of capital, resources, and manpower. This was an obstacle that many would-be small batch manufacturers were never able to overcome, leading to a serious decrease in the number of boutique manufacturing products. 3D printing will lead to a reversal of that trend starting in 2015.
· Small business will continue to go green – "Going green" has been a goal for many small businesses for decades, and 2015 will see many of them taking their ecofriendly initiatives even further. Mobile usage, remote desktops, the cloud, and other technological advancements will lead to many businesses reducing their paper use, decreasing office energy consumption, and taking other green steps that will make a positive impact on the environment and their company’s bottom line. Small business owners will also be on the lookout for other green businesses that share their commitment to environmentally friendly business practices, from other paperless offices to green launderers and manufacturers to produce and take care of their workwear.
These are only a few of the small business trends that are expected to take off in 2015. As business technology, new strategies, and innovative leadership continue to come together, the world of the small business owner is set to see many developments over the course of the year.
Prudential Overall Supply has been a leading supplier of work uniforms and safety gear since 1932. Providing high-quality workwear for a wide variety of industries, Prudential is also a strong proponent of ecofriendly business practices and work safety. Learn more at www.prudentialuniforms.com