The Dynamic World of Business in the Year 2020

By the year 2020 many small businesses are going to go through a major change. While no one can accurately predict the future but a lot of changes those are currently taking places now will greatly impact small businesses everywhere in the coming years.

Business in the Year 2020

Businesses in 2020 are going to be a lot easier to start, less costly to operate and they will not have as many traditional employees. As a matter of fact, businesses in the future are going to be flexible and very efficient.

The driving force that will change this trend is technology. Digital age technologies are going to make owning a business so much easier because owners will be able to use computer technology and automated processes to efficiently run and operate their organizations.

They will no longer need to hire a bunch of people to perform a lot of tasks and the machinery that they will use for automating processes will be much more flexible and versatile enough to complete a variety of manufacturing tasks. Sustainable business practices will also be important because the current business and consumer mindset is directed toward sustainability.

Wasteful habits and activities will no longer be acceptable and this too will help with operating businesses at a lower cost. For example, a lot of businesses have done away with keeping paper based records; everything in certain organizations have switched over to a digital medium.

Technically, the average person will not need to have a lot of funding to operate specific types of small businesses. As a matter of fact, some businesses will be so cheap and efficient to operate that people will be able to do them from the comfort of their home.

Think about it, a person who can make a good tasting pie that many people enjoy eating; could get the proper licensing and permits; and make and deliver pies from the comfort of their home. Technically this could be done now.

In the future a person could rent out a simple one room store front and use computer terminals to allow customers to shop for the products that they want. They could keep enough merchandise on hand to sell directly to the consumer after they purchase their order or they could deliver the products from a warehouse directly to the customer’s home. This type of business set up significantly reduces overhead and operational expenses for shelving, equipment, supplies and products. Also, this type of operation could be run by as few as two people.

All businesses regardless of their scale and size will be moving in this direction. Keep in mind that this does not mean that larger sized operations are necessarily going into decline. The big companies are always going to be around in one form or another because their business model allows them to outperform many of the smaller enterprises in the market.

Also, bigger companies can charge cheaper prices and offer better product and service selection (in most cases) than smaller businesses. However, the competition should not stop a small business organization from trying to compete. Ultimately, smaller businesses are going to dramatically increase in 2020 and people everywhere will be able to start up their own enterprises with relatively low cost or financial barriers.

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