Microsoft: New report reveals the biggest trends for small businesses in 2018
From launching new products to making new hires, here is what small businesses are excited about in the new year.
Small business owners are already thinking ahead to 2018, with a recent survey suggesting they are excited to bring new ideas to fruition but challenged to stay on top of advancing technology. In fact, 90 percent of small business owners plan to hire one to two new employees in the upcoming year, just one of the many ways in which small businesses are poised to evolve and expand, according to the results of a new nationwide survey released by Microsoft Store.*
Nearly half of business owners surveyed identified their top challenge as staying ahead of rapid changes in technology in 2018. Additionally, 23 percent emphasized that budget constraints were top of mind in maintaining and growing their endeavors. For the newer small business, budget was their top challenge, which is expected for businesses in operation less than a year.
St. Louis-based radiologist Dr. Jennifer Nicholas, a Microsoft Store customer, partners with radiologists in Haiti to facilitate trainings using Microsoft 365. She says, “The program we are using in Haiti relies on technology that is easy to use, so the radiology residents can access their curriculum, participate in lectures, and complete exams. The project is funded by grant money, so I try to make the most of every dollar without sacrificing the use of the latest technology.”
Despite the challenge to keep pace with digital innovation that companies face today, survey respondents cited the many benefits of being a small business owner including work life balance. Eighty percent of respondents say they currently maintain enough freedom and flexibility to support their work-life balance. Respondents maintain a high level of mobility, working off-site and in multiple locations instead of at a fixed venue. The younger the business (less than one year old), the more likely it is to have employees who work primarily from mobile devices. As companies grow, mobile use gives way to other devices and digital options for how work gets done.
Read the entire article here, New report reveals the biggest trends for small businesses in 2018
Via the fine folks at Microsoft.