Every year brings about significant changes for entrepreneurs, but the last few years have been especially significant. The ongoing coronavirus pandemic has flipped a lot of industries on their heads, and some of those changes are here to stay.
So, how can entrepreneurs prepare for what’s ahead in 2022? Everest Business Funding explains some of the biggest business trends for 2022 that will help your company stay ahead of the competition in this age of digital transformation.
Remote Work is Here to Stay
In 2020, businesses around the globe were forced to deal with remote work as office buildings and workplaces were shuttered. Restrictions slowly but surely eased throughout 2021, though not all companies are entirely back to normal in-person operations.
While some entrepreneurs may be eager to get everyone back in the office or workplace, not all of their employees share the same sentiment. Many have enjoyed remote work and find it hard to justify why they should report to an office or physical workplace — depending on their industry and job title.
Whether they like it or not, entrepreneurs will have to understand that remote work is here to stay in 2022. If they want to attract talented employees, they need to adjust their expectations for the work environment.
The Workforce Will Continue to Change
It’s not just the work environment that will continue to change; it’s the workforce’s makeup, too.
The pandemic, unfortunately, forced many people to look for new ways to bring in money. While gig work was already around before 2020, it soared in popularity when the pandemic began.
What started as a way for people to make money on the side has turned into full-time careers for many people. Savvy entrepreneurs can utilize the power of gig workers to stay more agile and flexible while also reducing their overall employment costs and attracting new ideas and creativity.
Cashless Payments Are Now King
The old saying “cash is king” isn’t pertinent anymore to describe how consumers operate. A large majority of consumers prefer cashless payments such as debit and credit cards.
In 2022, the emergence of other technology that allows for touchless payments will become more prominent in stores. Entrepreneurs should update their payment technologies to allow for payments from digital wallets, mobile wallets, and payment apps to respond to this.
If your business accepts payments at a checkout register, make sure that your technology is up to date to stay current with the desires and demands of consumers.
AI Will Become Commonplace
Artificial intelligence still causes some people to cringe when they hear the phrase, but it’s starting to become more accepted. AI fuels many ways that customers communicate with businesses nowadays.
Many companies employ customer service platforms that use chatbots and self-service troubleshooting options. Financial companies use systems that detect fraud automatically using AI. Smart devices use facial recognition technology and personal assistants to personalize the experience to each user.
Expect this to continue to advance in 2022. Everest Business Funding says entrepreneurs that can harness AI technology could reap significant benefits.
About Everest Business Funding
Everest Business Funding provides alternative finance options and revenue-based funding to small business owners. They serve a diverse pool of businesses, from healthcare to retail, to help them obtain working capital to grow, buy inventory, launch marketing campaigns, or hire staff. Everest Business Funding’s clients are treated with respect and receive high-quality guidance and service from its professionals.