Morris Esformes on 2019 Trends in Entrepreneurship

Morris Esformes on 2019 Trends in Entrepreneurship

This Morris Esformes article was originally posted on Medium.

The international market is booming and the percentage of entrepreneurs is increasing at a significant rate all over the world. The number of self-employed people have seen a major growth between 2014 and 2018, not only in the U.S., but also in other countries across the world. To keep yourself abreast of the changes in the market, and how they can affect your venture, it is critical to understand the trends impacting entrepreneurial ventures in 2019.

Read the latest Morris Esformes article on climate change

Continued Growth Of The Sharing Economy

Peer-to-peer based sharing or collaborative consumption of services and assets is what is known as the “sharing economy.” Successful ventures like UberLyft and AirBnb are ideal examples of the sharing economy. Their mantra of “access over ownership” has helped these businesses garner huge success in recent years, and predictions are that their run at success will continue in 2019 as well. Uber, in addition to AirBnb, has been successful at making their businesses highly lucrative, demonstrating that it is the perfect opportunity for entrepreneurs to strike the iron while it’s hot.

The sharing economy is affecting entrepreneurial decisions in 2019.

Increased Importance Of Social And Environmental Economy

Financial profits are not the sole goal of entrepreneurial ventures anymore. In fact, start ups are now concentrating more on people and the environment in which they work, as opposed to straight profits. In fact, businesses are seeing that customers and clients prefer to root for companies that take environmental and ethical matters seriously, and are making an effort to better society. Naturally, with an increase in company transparency worldwide, most startups have now made it a point to advocate for environmental and ethical issues because they see it as a great way to earn trust and, as a result, earn business.

More Use Of Intelligent Automation

Automation has been on the table for years now, and recent intelligent automation has started to make its impact on business. The impact of AI includes everything from automotives to marketing. Not only that, but financial services, healthcare, the public sector and more are incorporating intelligent automation to ensure streamlined services and increased customer satisfaction. From the inclusion of chatbots to AI-enabled security systems, the use of intelligent automation is seeing an unprecedented increase.

Increasing Demand Of User Control Over Data

Want more information about your potential customers? Buying customer information or acquiring said customer information without consumer knowledge can bring you under the scan of authorities worldwide that have been implementing strict legislation and statutes to ensure that consumers have more control over their data. However, if you do need access to consumer data, the best way to get it is from the consumers themselves. This can be done by creating themed polls, holiday gift guides, “fun”online quizzes, and more. This way, you will have the user data you so desire, but you gather said data without breaking any laws and with the maintenance of consumer trust.

So, if you are planning to start with your entrepreneurial venture this year, be sure to reap the benefits of the trends that are expected to be strong.

Morris Esformes
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