Small Business Trends – What Business Owners Should Look for in 2013

Small business owners are always looking for great opportunities to either innovate an existing business or create an entirely new business in their chosen market. This year is not much different for small business owners. However, it should be noted that there are some kinds of businesses predicted to be great hits this year. According to TheStreet.com, there are seven trends well-noted for, three of which will be comprehensively discussed here. If you are looking for some business opportunities that you can tap into, you need to read on to know more about these trends.

Franchising

There is an upsurge of people who are buying franchises. As of the last quarter of last year, small businesses have been booming. Truly, one of the major reasons for this phenomenon is that there is no longer job security in the corporate world. Unemployment is still high. People in the corporate world are walking on thin ice as they are not sure if they are going to be employed in the following months. Hence, many are opting for a franchise business as a safety net in case they have to leave the corporate world.

Your Health Is Your Wealth

Many people are embracing wellness living. People want to live longer – and who does not? Because more and more people want a longer lifespan, there are many new products that aim to improve life expectancy. This means more opportunities for small business owners.

Tablets are the new computers

Mobility is important in this fast-track world. Gone are the days when we have to go back home or be in the office to work or check email. Tablets are the ultimate weapon for multitasking. People can now be everywhere. This also applies to businesses. Now you can pay utility bills even when you are eating out in a restaurant.

Interest in franchising appears to be picking up steam as Franchise consulting firm FranNet had a strong 2012 and expects more of the same in 2013. Young people who aren’t having much luck in the job market are seeking to learn more about the industry. “These young people are getting out of college and cannot find employment. We see a lot of parents exploring franchising for their college graduates,” said Jania Bailey, FranNet’s president and chief operating officer.

Franchising – The franchising business will be booming this year. Many young professionals will choose franchises over corporate careers for fear that they will eventually lose them in the end due to a lot of changes in policies in the government.
1099-K Readiness – Past year’s revenues will have to be in order to avoid IRS auditing.
Be “Glocal” – Adapting a product to a particular location is the name of the game. Local customs and practices have to be considered.
Health is your top propriety. The wellness lifestyle has paved the way for people to become more aware of their health and longevity. Now is the proper time to invest your business acumen in such a niche.
Customer service becomes simples. Even if people live in the digital age, if customer service is tackled, it would still be back to the basics.
Cloud-based technology. Now it is becoming more digital and that means less workspace and fewer paper to use. More and more companies are opting the cloud-based technology to keep their records
Tablets and small businesses come hand in hand. Tablets will definitely change the way people do business as tablets become the epitome of multitasking.