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What Will Drive Small Businesses in 2022? These Are The Things You Should Know

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It’s been hard for businesses of all industries to keep up with rapid changes in the world in the past few years. After nearly a year of losses due to the coronavirus, small-business owners saw the year 2021 as an opportunity to get back on their feet and start over. Many businesses and companies recovered and bounced back, but not all were lucky. Some small businesses were badly hit by the pandemic as they still struggled in 2021.

In the U.S., statistics show that a record number of new businesses registered in 2021, with more than 4.6 million applications for businesses filed through October. Despite the promising figures, many small businesses, especially the minority and women-owned businesses.

You may ask why businesses were struggling despite the economy slowly opening up to the world? One study finds out that businesses struggled, or worse, shut down for these number of reasons: unexpected extended lockdowns, lack of tourists, legal restrictions, little help from the government, and business owners’ lack of planning and strategy in uncertain times.

With global shifts exacerbated by the pandemic, organizations across all sectors struggled around the world with rapid transformation in 2021, and 2022 is certainly predicted to be similar.

Read these three major business trend predictions to offer a sneak peek at what’s to come and help your business survive and thrive in 2022.

Digital marketing will continue to dominate the marketing sphere.

Business owners should accept and embrace the fact that digital marketing will be around for a while. Digital marketing has proven to be beneficial. The marketing department has experienced a surge of change as a result of Covid-19, and there are a plethora of tools and opportunities to engage audiences more effectively using digital marketing.

Competition is the driving force in the digital world. If you want your company to succeed, you should keep up and learn the latest tools and methods for boosting your online presence. It is just one of the reasons why it is important to stay up to date on the latest online marketing trends. As the digital world changes, businesses should keep up with them so that they can stay relevant and connected with their customers.

According to an article from Forbes, 2022 will likely see big names promoting sustainable and eco-friendly practices that put community values at the top. For businesses to thrive in 2022, businesses should focus on improving content plans, using more videos, and automation in their businesses.

Supply chain and hiring issues will persist.

If there’s one thing you can count on from a crisis, it’s that you never know how, when, or will end. However, this lack of certainty should not stop business owners from thriving in the coming year. Companies and businesses that embrace technology to get the most out of their resources can position themselves and overcome the challenging economic setting more successfully and profitably.

An expert revealed that the best way for businesses to deal with unstable supplies is to adapt to technologies. It will provide more clarity and accountability into their operations.

As for the labor woes, experts predict that employers will continue to struggle with hiring and retaining employees. Six in ten respondents (61 per cent) are having difficulty retaining employees. The trend is likely to continue in the industries like hospitality and tourism and industries that require core employees to report in the office – like the healthcare industries.

There are three ways employers and businesses can overcome the hiring woes and decrease employee turnover. First is to increase starting salaries, second is to increase benefits, and third is to offer more workplace flexibility.

List of business trends in 2022

The shift in the way people work.

During the past decade, technology has made it easier to work from home. The pandemic, on the other hand, has made this change much faster. Working from home has convinced many people that working from home has its perks. But it also benefited the employers as the pandemic also showed employers how much they could save by having workers work from home or in a hybrid way. It also proved that employees can be trusted to work from home.

In 2022, that trend is going to stay. Gartner predicts that by 2022, 31% of all employees around the world will work from home. This figure is based on factors like the employers’ capability to adapt to technologies, openness to a different culture, and the types of businesses that work there.

Flexible work is another thing that takes over the workplace dynamics. Throughout 2022, forward-thinking businesses will change the rigid 8-5 workday to more flexible hours, which will give workers a better sense of work-life balance. Outputs will become the measure of productivity rather than hours spent in the office.

Organizations will need to be flexible as they figure out what works and what does not as some employees start to come back to the office a little at a time. If your business is not used to having flexible or hybrid workplaces, 2022 will be a year of trying things out.

Takeaway

People and businesses will have to think more long-term and strategically as we move into 2022. If you want to re-establish your business or make it more profitable, pay attention to these three business trends.

VALUE Virtual Assistants can help you ease your way through these business trends by providing talented, trustworthy, and competent virtual assistants.

What tasks can our virtual assistants help you with?

  • Administrative Services
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You should reach out to us if this sounds like you and you need help. Book an obligation-free appointment with us to get started.

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