Best Small Business Trends

Best Small Business Trends

Many experts in the field of Business Development predict 2017 to be the year for start-ups.
It has never been easier to start a business in Europe and more and more people of all ages are ready to run their own business and experience the freedom and opportunity that comes with it. If that is you, you probably ask yourself which sectors will be the most profitable and stable to create a business in.

The largest trend in any sector is clearly towards niche businesses. Targeting a very specific market segment with a very specific clientele is replacing the wide shot-gun approach. We can see more and more soft marketing without a call for action. This works through focused community building, with experiences and life style over product specific messages. The “Having to sell” approach is more and more replaced by the “Allowing to buy” approach. This forces many businesses to rethink their strategies and opens new doors for dedicated entrepreneurs.

Here I give you my own trend predictions, based on my research and working with entrepreneurs and start-ups.

Services for start-ups

Over the last years there has been a big trend towards coaching and entertainment and specially the IT sector has produced many new businesses. In 2017 this trend will most likely continue, but I believe there is the sector of Start-up Services which is neglected a lot but will play a bigger and bigger role in the years to come. This assumption is based on the fact that there are more and more small business owners. Most of them are probably very good in what they do, but lack a lot of experience and knowledge in the day to day running of a business. We have seen in other countries like the United States a steady increase in service related companies, supporting all these new entrepreneurs with their businesses and this trend is most likely to be the same in Europe.

Investment into Tech Companies will flatten out

Europe has never been strong when it comes to Crowdfunding or VC Investments, but over the last years there have been a huge number of bad investments. That means the screening process will become far more complex which most likely results in less mass investment. Specialist companies targeting niche markets will have a much higher chance to get investment than companies following a broader approach.

E-Commerce is changing

Over the last years the number of people starting e-commerce businesses has grown much faster than the market itself. That means things are going to be tougher. To make it work will take much longer and a larger investment. Currently we can see new e-commerce areas being developed targeting markets outside the main stream. The introduction of new online payment schemes (Square, Bitcoin currency, Apple/Google payment options) allow smaller amounts to be managed online without huge costs eating on the profit. This will open new markets for products below 10 Euro.

Data is King

Google and Co have reached a point where information is available in an instant for free (almost). But this amount of information also comes with problems that need solving. For data to have any impact it has to be relevant to the need of the market and that is an area of massive growth. Data Management Software and Services are on the rise and provide a huge potential for start-ups in that field.

Social Media and Marketing

Social Media Advertising is said to receive the biggest part of the cake this year and the trend is growing in the years to come. This means in order to use Social Media successfully for your business your advertising spending will have to increase. It is also most likely that advertising costs on Social Media Platforms will rise.
Video will become the biggest actor on all platforms. This will be a major opportunity for service driven start-ups as the investment in this field will be huge.

Offline vs Online

There is a large trend towards offline experiences. More and more people are tired to live their life sitting in front of a computer. Consumers looking for ways to get the same experience in the offline world. This area is growing, specially in education and young people development. But also services related to the ever growing older generation are on the up. This goes much further then just services, but extends into education, entertainment, health, fitness and community building. The need to develop and to contribute doesn’t stop when you’re 65 years old.

I hope this will give you some direction where to look for your own adventure.

What will be your business?

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