It might be a new year, but the market is still just as relentless as it has always been. Some trends will grow, and some will wither away. It is up to business owners to figure out how to navigate the changes that 2017 will bring forth. This includes every single process in a business: from the relations with employees to issues of personal branding. Here are a few trends one should keep an eye out for.
- Economic Change
Now more than ever, the level of confidence in the economy has risen. This means more investments will be made by entrepreneurs. Small business owners, for instance, are positive about their overall performance in the current economy. Indicators for the stock market are strong, increasing optimism among entrepreneurs and spurring interests in new investments.
Business owners will realize success in 2017 by focusing on one specific niche, or rather, a specific type of customer. The kind of marketing that only covers a general perspective of a product is being passed upon for a new kind of advertising, one that used customised messages to target a loyal audience.
Trends in investment and finance will also change. The economy indicators are strong, yes, but the market has never been certain: it certainly is not now. Investors will start to manage risk by moving their assets between asset classes, most probably from over-valued classes to under-valued classes. Yet, given the close correlation between the different classes, one can never know for sure, but indicators highly suggest that investors are likely to trade in precious metals more this year, mostly gold, with even more money being put into crypto-currencies.
Trading in these stocks is likely to become a new trend and investors are advised to take advantage of these predictions and go to their investment companies, say CMC Markets, for more information.
- Investments in Startups
Tech startup companies have had a good run, but it might be time for them to say goodbye to the free flowing money that has been funding them all along. The mere activity that has been buzzing in the world of tech startups has been suggesting this trend all along, but this change also partially has to do with high profile flops.
In 2016, customer demand on housing was too high for the market to keep up with. As a result, request placements on home loans experienced an influx. This year, home-flipping is coming back, and it is coming back strong. Businesses that deal with home-flipping, as well as those in the commercial real estate sector, are looking at strong markets this year.
- Technological Advancements
Technology can only continue to grow more popular and complex over the years. This year, the use of Artificial Intelligence among businesses is predicted to increase. It has everything to do with high levels of competition and relevancy to consumers. This trend will extend to online methods of conducting business.
Payment methods such as the use of Bitcoins and electronic payment options will put companies on the forefront of their competition. Smaller businesses will find it easier to adapt. Unfortunately, the same cannot be said for larger companies.
The maturity of IoT (Internet of Things) will also continue to grow over the year. We are looking at more automated processes, meaning a reduction in human labour, and a number of other changes to do with technology.
- Green Year
We are only starting to realize the impact we have on the earth, and as a result, more products are becoming green. This is to mean that the more socially aware a business is, the higher its chances of survival will be.
For any business, it is important to note that staying informed on the trends that are likely to form the larger part of the year, will help businesses withstand the strong wave of change.