2020 Small Business Trends

As January hurries along many business journalists and industry watchers post their lists of the top business trends we’ll be seeing in 2020. We’ve sorted through them, and here are the three we think you should your eye on.

Millennials Will Make Their Mark – You may be asking “they haven’t already?” They have, of course, but several publications, including USA Today, name 2020 is the year that they’ll change the way we work. They quote an interesting statistic: “74 percent of millennial and Gen Z managers have team members who work a significant portion of their time remotely, versus 58 percent of baby boomers.” And FinancesOnline notes that “this generation has changed the way we work virtually in every facet. Take customer service, for example, Millennials demand quick responses from businesses via different channels, especially social media. Failing to do so would result in a backlash from not only their friends and associates but also with total strangers that have had the same issue with them. They have kept businesses on their toes in this regard.” Are you making sure that your business is keeping up with what Millennial workers and customers want? If you want to survive, you need to.

Reviews Are More Important Than Ever – As Inc.com writes, “Customers trust reviews over ads or any other content businesses create themselves. It’s absolutely essential to have your business listed on sites such as Google My Business, Yelp and others that are relevant to your business.” At the business site busines2community.com, they agree, saying “Before buying a product or trying a service, they want to know that other people have used it and have good things to say.” You have to make sure your business is listed on social media review sites, but you also have to make sure your customers are reviewing your business. Don’t be afraid to ask them to leave a review.

The Gig Economy Keeps Growing – People who watch small business trends see the gig economy, people freelancing or going from one contract to another, continuing to expand in 2020. Forbes talked to several people to find out where the gig economy will go. They quote author Shelley Smith, Premier Rapport who says “The gig economy will no longer be a trend, but the norm. The impact on businesses will either make them more agile and innovative or they will find themselves in a world of hurt for workers.” Over at they find that the gig economy “may have played a huge role in the development of your business but it will continue to be a leading trend in coming years. If your small business can’t afford to hire employees right now, be sure to take advantage of the gig economy and offer remote work options to save money.”

Of course, here at VersaTel Solutions we can help you fill your “gig” positions. As business2community notes, our virtual assistants can save you money. Get in touch with us, and we’ll figure out how we can help you.