20 Dec 2016
Let’s talk trends in Australian business in 2017 and beyond.
We’ve told you how the world of work is changing, and how the opportunity is there for the tech literate and the creative thinkers. But what about the entrepreneurs? And no, we don’t necessarily mean those eager to start their own business.
The corporate world has always been one of constant change, and being proactive and flexible is key to survival. This is why keeping abreast of trends is handy. If you know the how and why of change, you can adapt sooner and turn impacts into opportunities.
According to Canstar, as of May this year, there were more than 2.1 million businesses trading in Australia. Add to this reports that new businesses (particularly start -ups) have the capacity to contribute a further $100 Billion to the economy and generate more than half a million jobs by 2033.
In other words, those in the know have opportunities galore for you to own. So, what about those business trends?
New Trends in Business
The Rise of Subject Matter Experts
The long held practice of relying on subject matter experts in the B2B (business to business) space is picking up steam in the broader business world. Now more than ever businesses of all sizes are ensuring that there are definitive experts involved in their strategy and sales planning. Such experts help the business consider the actual facts of the product and industry – this in turn minimises confusion and reduces gaps in communication.
What this then means for you is that adding some business expertise to your current field (horticulture, fashion, baking etc…) can make you integral to a business’s success.
Video is Essential
This trend has been growing, and growing, for the past few years. YouTube has reached a point where it has a subscription service and Facebook prizes video over all else; this is the platform all businesses need to use in one way or another to communicate with customers and even staff in today’s business environment.
The Millennial Status Quo
It turns out that tech isn’t the only force redefining the workforce – Millennials are making their own waves, and as of 2017 they will be the new normal. Inc tells us that the needs of this growing cohort of young professionals will change the what and how of businesses of all sizes.
The Exciting World of Retailment
Retailment is the next era of real world shopping – stores are going out of their way to create unique shopping experiences that play off their brand’s strengths and into the waiting hands of eager consumers.
Small Is In
A fun size take on classic retail outlets that offers an easy-access variant of the standard store-front with a focus strictly on the items we buy most. Everyone from IKEA through to Lincraft and Target are eying this concept as a way forward. This, alongside retailment, creates opportunities for those with a solid understanding of consumer trends and visual merchandising.
Go Forth and Conquer
In business, curiosity and an adventurous spirit will take you far. As the old saying goes “Knowledge is having the right answer, intelligence is asking the right question.” Ask questions, seek out business trends, master them, make them.
If you are eager for a head start in being a trend rider and setter, TAFE Queensland Brisbane can help. Our Business courses are in sync with the corporates of today and the big ideas of tomorrow, better enabling you to be all you can be in the boardroom.