2021 TRENDS
2021 Will be known as a year of major change, transition for everyone. We may even call it the fulfillment of the 4th Industrial Revolution – Digitally enabled proactivity. The following information was obtained from a wide variety of sources and includes our own projections.
- Small business owners can finally start to look forward to shaping their future, rather than grinding through the present.
- Even with a vaccine, business will not be going back to the way it was in 2019.
- The Pandemic crisis has spurred innovation and a new generation (new businesses, not the age of the business owners) will be launched.
- In the 3rd quarter of 2020 there were over 1.5 million new business applications in the U.S. That is more than double the amount in the 3rd quarter of 2019.
- Many of the new businesses are, and will remain, single person businesses.
- The pandemic has changed the way we shop and 65% of people indicated that will continue with the new trend.
- It is estimated that at least 20% of the workforce that used to work at a business location will continue to work from home instead of returning to an office environment.
- Automation, digitization and new technologies will be the key words in 2021.
What does all that mean? It means that a new and innovate wave of competition will arise. It means that you have to pivot and “reskill” yourself and your business. It means re-evaluating your products and services, your delivery method and above all your communications system with your current clients and your prospects.
The key take-away is that you will not be able to make this shift, in my opinion, without help. Education, learning about automation, digitization, AI, etc., will be the key to survival and growth. Put together your support system and lead change in 2021.
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Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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