This article offers some ideas on the coming business trends of the year. I don’t think all of the original six from the article apply to most small business owners (and these aren’t necessarily accounting issues but bigger picture issues) here but I’ve included the ones (four of the six) that might make a difference to most of you in the next twelve months.
See what you think:
- Winter sales slump? Retail research firm America’s Research Group says January and February may be deathly slow, as more than 40 percent of consumers said they overspent on the holidays. That’s a whole lot of holiday hangover. It will likely take creativity to book sales in the next 60 days.
- Ever-shifting markets. Consulting firm Phimation likens the 2012 small-business climate to the agrarian marketplace of the 1800s — that is, highly fluctuating based on the seasons and unpredictable weather patterns. Similarly, innovation will continue to shift the markets around. To combat this unpredictability, be nimble and stay connected to your community, which going forward will be defined by interests rather than geography.
- Rising prices. The discount-deal site Dealnews tracked price changes in 2011, and predicts that airfare, digital cameras, hard drives, desktop computers and groceries will top the list of goods that will see spiking prices next year. That sounds like bad news for many small-business owners who need to keep up with the Joneses.
- Election-year uncertainty. Often, an upcoming election creates inaction on Capitol Hill, as some lawmakers fear hurting their reelection chances. Others could battle to pass laws that might appease constituents. This ‘policy uncertainty’ may similarly stall business owners’ decisions while they wait and wonder.