5 Small Business Trends You Need to Watch for in 2015
Small Businesses Will Grow
In a recent survey by CAN Capital, 58% of small business owners expect to see growth in 2015. Many of them (31 percent) are investing more money into advertising and marketing activities, especially those having to do with social media. About 35 percent of small business owners are going to buy more equipment and inventory to meet demands because of the perceived growth.
Social Media Will Influence Consumers' Decisions
In 2014, 62 percent of people who took part in a Harris Interactive poll reported that they have purchased a service or product after seeing a friend's post on social media. With the addition of "buy" buttons on Twitter and Facebook, expect the influence of social media to increase. With an easier way for Internet users to make a purchase after seeing a post about a service or product, small business owners will likely see an increase in online revenue from social media.
Marketing to Minorities Will Increase
The number of minorities in the United States is increasing, and small business owners who advertise to them will see bigger gains in 2015 compared to those who do not. According to the Miami Herald, USA Today reported that more than 50 percent of U.S. cities are comprised of minorities. The U.S. Census reports that Hispanics make up 17 percent of the population and their purchasing power is more than $1 trillion. These figures are expected to grow significantly for the next couple of years.
More Business Owners Will Reach for the Cloud
There's nothing new about the cloud, but small business owners will likely be using it more in 2015. With all of the data and security breaches in 2014, many people are trusting clouds much more because of their higher level of security and convenience. Consumers and business owners will learn to love the cloud and it will show that businesses are caring more about ensuring their customers are safe and have an easy way to conduct business.
Crowdfunding Will Gain Traction
Business owners will be looking for new ways to finance a business and crowdfunding options will be ready. While equity crowdfunding may not be legal in many states now, this will likely change in 2015, which will help many people do what they need to do through marketing and production to grow significantly.
Are you ready for 2015? It's going to be a great year for small businesses, so start planning now. You may just achieve those goals you've been trying to reach much easier and quicker with all of the changes that are about to happen. Much luck and success to you for 2015!