Now that we’re in the second half of 2022, you might be wondering how to make your business better than ever before. If so, these seven ideas are worth considering. Make sure to keep an eye on the latest news and trends while they’re still in their infancy – that’s when you can get ahead of the curve and begin planning what you’ll do with your company in 2022 and beyond!
1- More people will prefer to shop online
Buying things online is convenient and it saves time. Most people can’t remember the last time they went to the store. And in 20 years, we will all be used to shopping this way. There’s an advantage to shopping online that can’t be achieved in-store: it’s been shown that impulse purchasing doesn’t exist when you’re using eCommerce sites like Amazon.
You have time to research, and compare prices and reviews without feeling pressured by sales staff or other shoppers. You can also find less popular items that would never make their way into your local mall.
2- More people will be spending time on their smartphones
Many experts predict that by 2022, the average person will spend more time on their smartphones than they will socialize in real life. People will still be able to maintain their relationships offline, but when they’re not interacting with friends or family members in person, they’ll turn to text and video chats.
With so much focus on smartphones and digital devices, it’s likely many small businesses will take root and thrive as consumers grow increasingly comfortable conducting most aspects of their lives online. Here are five small business ideas that could succeed in 2022
3- Millennials will have more money than ever
Millennials will inherit over $30 trillion by 2030, this is almost twice the size of the current US economy. Coupled with their enthusiasm for entrepreneurship, it won’t be surprising to see a high number of Millennial-owned businesses in the near future.
Entrepreneurship among Millennials is up 34% since 2000. For example, Baby Boomers are often seen as more risk-averse than Millennials who have shown an appetite for experimentation and innovation. In addition to inheriting more money from their parents and grandparents than ever before, many are being raised in homes that didn’t suffer financially during the recession.
Others are coming from wealthier families where they have been exposed to wealth from an early age. All these factors contribute to an unprecedented rise of entrepreneurs among America’s youth as they now represent a third of all new business owners nationwide.
4- The freelance economy will continue to grow
The current economic climate has been tough for many and, unfortunately, this is not expected to change anytime soon.
With more individuals looking to pursue their own ventures, businesses have had more opportunities than ever to work with clients on a freelance or contract basis. Freelancers can offer an endless number of skillsets and capabilities, which makes them an attractive prospect for any business.
However, the responsibility lies in finding the right person for the job-a task which can be difficult given the prevalence of copycats on platforms like Upwork or Fiverr.
5- Freelancers will have greater opportunities
More companies are relying on freelancers and freelancer networks to fulfill their talent needs due to the ease of hiring and deployment. This will leave a gap in the talent pool that doesn’t offer full-time work, meaning more opportunities for freelancers.
Now, companies are not only looking to find someone with technical skills to work with them, they are looking to find talented people with leadership skills as well. Whether you’re an aspiring entrepreneur or just want to make some extra cash on the side, there are now ways for you to get your feet wet without committing all your time and resources to it.
Here are seven small business ideas that may be perfect for you
6- New technology will reduce the cost of starting a business
New technology will make the barrier of entry to start a business significantly less expensive. Currently, it costs between $2500 and $5000 to start a business due to legal fees, accounting fees, marketing fees, and advertising expenses.
As technology becomes more accessible and the cost of information becomes cheaper, many new businesses will be able to keep their overhead cost low enough for profitability. Additionally, smaller startups with limited funds can use newer technologies like chatbots and virtual reality to provide customer service without requiring human employees or face-to-face interactions.
7- Time and location are no longer limits for businesses
Things will continue to change over the next 5-10 years, but many of the fundamentals and principles will stay the same. Customers will still want quality products or services, but they’ll also be looking for something new and innovative.
Other drivers include how quickly you can respond, how trustworthy you are, and how well you interact with them on social media. In other words, more and less will change in ten years than might have seemed possible in five! But there is no need to panic: here are seven small business ideas that should work great in 2022.