I’ve always been an optimistic person, so without reflecting on the year that 2016 has been, I’m excited to have 2017 on the horizon. As Smash Mouth said, “we could all use a little change.”
In my role as the VP of small business sales at Dell, I’m able to keep an eye on the trends shaping up when it comes to technology and businesses—both big and small! There are quite a few things I see happening in the market that could have a major impact on SMBs next year, ranging from new tech capabilities, to who will be leading the workforce, to the security scares to watch out for.
So, drum roll please…here are my predictions for what 2017 will bring to our small businesses:
A More Connected Workplace: We already live in a time where remote work is becoming the new normal. Technology enables many of us to do our jobs from wherever we have Wi-Fi and a cell signal. Currently, about a quarter of Dell employees work remotely either full time or a few days a week, though we’re shooting to have 50 percent of our workforce doing so by 2020.
In terms of connectivity, I think we’re also going to see more tech enablement on the customer front in the form of chat bots. Many companies have started rolling out chat bots to provide customer service in real time at a fraction of the cost. As artificial intelligent grows infinitely smarter, chat bots are a smart way to provide the customer service of a large company without the additional staffing or expense. For a fun introduction to chat bots and AI, check out x.ai—an AI personal assistant that helps you book meetings.
Stepping up Security: Due to the rise of the Internet of Things (IoT) and the staggering amount of devices we’ve put online—more than 10 billion!—there’s greater cybersecurity risk than ever before. Like we saw with the Dyn DDoS attack, no one is safe and small businesses have an especially high risk, as 70 percent of all global attacks are focused on businesses with less than 5,000 employees.
Having the proper security in place for your small business (both online and in real life) should be at the top of your 2017 priority list. You can check out this post I wrote about how SMBs can prevent cyber security attacks to learn more.
Thinking Mobile First: I don’t know about you, but my cell phone is never out of arm’s reach, and I use it for everything from banking to shopping to hailing rides. According to Gartner, at least half of digital commerce will be coming from mobile purchases by the end of 2017, so small businesses should be actively working on making sure they have a mobile-responsive website or an app that will cater to your customers on the go.
Policy in Play: 2016 was a contentious election year that’s left us with a new administration that seems to be ready to make some changes, especially when it comes to business. Here are a few of the key trends I see playing out next year from a political point of view:
- The Rise of Crowdfunding: Having become popularized by sites such as Kickstarter and Indiegogo, crowdfunding is poised to surpass venture capital funding in 2017. Keep an eye out for more of your friends asking you to help fund their next project as opposed to them heading over to Sand Hill Road.
- Lack of Barriers: If the new administration stays true to their campaign promises to make it easier to start and grow a business, stay on the lookout for a cutting of red tape when it comes to the rules surrounding getting a small business off the ground.
- Stagnant minimum wage: President-Elect Trump has tapped Andrew Puzder, CEO of the food company that includes Hardee’s and Carl’s Jr., as the next Labor Secretary. Puzder has campaigned against raising the minimum wage to ensure small business are re-investing in growth.
Millennials Are Stepping Up: This year, millennials overtook Baby Boomers as the largest generation in America. Next year, more than 3.6 million company chiefs are planning to retire, meaning that a new generation is going to be stepping up to fill those slots. Leadership training for these new leaders is essential, and so is being open to their different points of view—again, we could all use a little change!
2017 is looking to be an exciting year across the board, from technological growth to a changing political landscape. Hope you have a festive holiday season, and a Happy New Year!