Current Small Business Trends

Well into 2015, it’s time to take stock and break down some of the top trends affecting – and being affected by – small business.

The Internet of Things

The Internet of Things (also known as “IoT”) is a scenario where everyday objects and systems will all be connected to the internet. According to the The Guardian, the Internet of Things can be used for a variety of tasks, such as “monitoring stock levels in warehouses and pinpointing consumer spending. Payment systems will also alter as contactless debit systems become more elaborate”.

The Emergence of 3-D Printing

Also known as “additive manufacturing,” 3-D Printing is finally becoming affordable. Because of its increasing cost-effectiveness, this emerging technology will enable “small-batch manufacturing” for businesses that could otherwise not afford to create their goods independently.

More Dashboards

Companies will begin to use more dashboards to integrate conventional apps and track the key metrics of their business. These include tools like iDashboards, which is a series of charts and graphs that show exactly what’s going on in your business. Understanding every cause and effect can help you fine-tune how your business runs.

Less BYOD (Bring Your Own Device)

Often, employees of small businesses have used their own devices for work but this can result in security issues. Many small businesses are now choosing to issue business-only devices. They are then able to load only approved applications, which keeps security tight on each device, which can save money in the long run, especially if it prevents your business from getting hacked or scammed by cyber criminals.

The New Social Media

The demand for promoted posts and ads on Facebook will grow, necessitating an increase in price. Twitter is also introducing a new advertising fee structure, which allows companies to pay for performance instead of paying for retweets, app installs and clicks. Other platforms that should be on your radar include LinkedIn, Snapchat and Pinterest.

Are you in touch with the current small business trends?

Adapted from an article by Marco Mannone, docstoc.com