Entering the market can be a challenge. There are businesses that are established enough to provide services. The market is ever-changing and innovation never stops. Startups need to find ways on how to ride the changing waves of business and to be on par to big businesses. Here are 2017 startup trends to know for next year.
Like technology, Politics changes for better or for worse, but some of these changes can be anticipated. The surprising win of Donald Trump in the November 2016 presidential elections has left many in awe. Even though this shocked many, the optimism rate of small businesses really improved after eight years. The latest Wells Fargo/Gallup Small Business Index revealed that the optimism of small businesses increased to +80 in mid-November from +68 in July.
But according to a report by CNBC, Brexit and the US election will have a large impact in the business world, making 2017 the “toughest year” for directors to make decisions and an annual report from Control Risks revealed six risks that businesses will face next year.
“The unexpected U.S. election and Brexit referendum results that caught the world by surprise have tipped the balance to make 2017 one of the most difficult years for business’ strategic decision making since the end of the Cold War,” said Richard Fenning, CEO of Control in a statement
He added that “the catalysts to international business – geopolitical stability, trade and investment liberalization and democratization – are facing erosion. The commercial landscape among government, private sector and non-state actors is getting more complex.”
The six key business risks identified by Control Risks for 2017 are political populism exemplified by President-elect Trump and Brexit, increasing complexity of cybersecurity, Persistent terrorist threats, a potential brake on U.S. regulation, intensifying geopolitical pressures, and the accidental escalation of strategic confrontations.
After revealing the risks, Control Risks provided strategies for 2017, which is becoming either “an Ark, Shark or Whale.”
“Arks” are identified as defensive and will focus on core business and markets, while “Sharks” will take “a more aggressive approach,” such as looking for opportunities in new areas and activities, and lastly, “Whales” are people who will provide better strategies to businesses, who are credit or cash worthy, who will push through to secure a market share.
Since startups are small entities, they can easily adapt to the ever-changing trends in business. For the next year, many startups will take advantage of this by going smaller to develop faster. This trend is applicable to all but has more focus on technology.
Virtual reality has not only captured the hearts of gamers, but also other fields. The Oculus Rift has really made a mark in the industry and many companies already developed their own. Functions of virtual reality can be used in almost every business there is, even Facebook has a Virtual Reality project. An example of this is real estate agents can use virtual reality to provide virtual tours of homes for sale to homebuyers who are far away or have limited time.
Health is one of the areas where startups venture in. New and old startups are expanding and giving more focus on organic food, GMO and on-the-go information such as nutritional trackers. In 2017, there will be more of these types of startups in the market. So pay attention to these types of products and see if this can still improve.
Startups can have a hard time to compete with other startups and big companies. They should come up with ways on how to be unique and be able to promote themselves to get a following.
The following trends mentioned like products that concern health and virtual reality can help business brokers victoria to have more potential and interested customers.
It is okay if the startup is small; everything begins small, so that the business can easily adapt to changes in the business. Moreover, the presidential win of Donald Trump and Brexit can have an impact on trade and how business owners and directors decide so business brokers victoria should be prepared for what may lie ahead in 2017.