The small business landscape has changed and will continue to change thanks to the internet. More opportunities than ever are available to small business. No longer is it required to have a brick and mortar store to be successful. No longer does it take piles of money to kick off a business and turn it into a success. That’s why Intuit commissioned the Future of Small Business report to see what will happen with small business in the future. Here are some highlights.
Artisans, historically defined as skilled craftsmen who fashioned goods by hand, will re-emerge as an influential force in the coming decade. These next-gen artisans will craft their goods and shape the economy — through upswings and downturns — with an effect reaching far beyond their neighborhoods, or even their nations. They’ll work differently than their medieval counterparts, combining brain with brawn as advances in technology and the reaches of globalization give them greater opportunities to succeed.
That’s one of the conclusions in the third installment of the Intuit Future of Small Business Report, which looks ahead 10 years and examines the prospects, influences and profiles of small business. The report is sponsored by Intuit Inc. and authored by the Institute for the Future.
Three Trends Influence New Entrepreneurial Economy
The study identified three emerging trends that reveal small businesses, equipped with advanced technology and unprecedented social networks, will amplify their reach and capabilities.
- Brain Meets Brawn to Create Opportunities for Small Business – The emergence of barbell-like economic structures will drive new business collaborations, creating greater opportunity and profitability for small business.
- Barriers Down, Small Business Opportunities Up – Access to big business infrastructure will expand, making their sophisticated technologies available to small and personal businesses, at lower risk, with a variable cost structure.
- The Next Wave of Globalization Will be Driven by Small Business – Muted trade barriers, improved technology, and professional and social networks across borders will facilitate small business access to new markets.
To get your copy of the full report, visit the Future of Small Business site.