6 Key Trends that Will Drive Small Businesses in 2022

6 Key Trends that Will Drive Small Businesses in 2022

We are about to end a year that was full of uncertainties and endings. The Covid-19 pandemic has made living an unpredictable endeavor for all of us. For entrepreneurs, the upcoming year is all about a series of hope and emotions. Similarly, 2022 is going to be a year of anticipation, fear, and worry. Why? You’d ask! The answer is, every small business owner will tell you that they are looking forward to a better future but there’s a lingering worry in their hearts. It has been an unprecedented year and a half, and the pandemic has challenged small businesses, more than anything else, to think differently.

According to a survey by PNC, there has been a rise in the level of optimism for small business owners after the vaccination drive. In the wake of Covid-19, small businesses worldwide entered into a phase of despair and distress. However, a lot of them are beginning to recover as new trends are emerging under an all-new form of normalcy. Still, there are a number of other trends on the horizon that small business owners need to check out! Here are 6 key trends that will drive small businesses towards success in the year 2022.

1. Enhanced Digital Marketing Strategies

Undoubtedly, digital marketing is here to stay! And believe it or not, small businesses are slowly accepting the same. You, being a small business owner, need to embrace it as well. However, the trend will also not replace traditional, face-to-face interactions. However, there has to be a perfect mix between the two. With digital marketing, you will be able to better market your products and services in less time. In 2022, digital marketing trends are sure to skyrocket. Gartner’s  2021 marketing report has also suggested that many businesses will fall on the budget-friendliness of digital marketing in order to grow their revenue and sales in 2022.

2. Adoption of SaaS

Small businesses are often facing the challenge of technological advancements. They lack the needed technology solutions and IT resources. Most of 2021 found businesses of all sizes have deployed technology for empowering a disseminated workforce for meeting altering market trends and customer demands. Fortunately, this enthusiastic shift to SaaS solutions has kind of leveled the field that has allowed small businesses to better compete against their larger counterparts. In 2022, it is said that small businesses would adopt SaaS solutions at a lightning speed. This is also because of the kind of affordability and flexibility attached to the lower subscription-based models. Whether it’s about managing the remote employees, enhancing the overall customer experiences, or automating workflow processes. Simply put, adopting SaaS solutions would mean getting more done.

Adoption of SaaS

3. Better Training & Coaching of Employees

The Covid-19 has given birth to better technologies as well. So, businesses will now focus more on coaching and training their employees for a better work environment. Over the past year, businesses and individuals have realized that it is now more important than ever to look out for blind spots in their strategies. Reports have also stated that around 77% of coaching professionals have agreed to the fact that coaching will remain a huge part of businesses. This, in turn, would fuel the battle for online course hosting podiums. Business owners are also trying newer things to train their employees and make them more adept with the change in technologies.

4. Growth of Emotional Intelligence

Exhibiting emotional transparency and intelligence will be crucial for small businesses in the upcoming year. For business owners, empathy would play a vital role in managing a team. The employer-employee relationship is vital to have a strong ground for success. The deeper the understanding would be between the entrepreneurs and their team members, the better will be their work culture. Although it’s not necessary to learn about the entire situation that an employee might be facing, the employer should at least recognize their behaviors and address them well. Small business owners should make genuine efforts to show concern to their employees and them feel included.

5. Implementing AI

Today, a lot of Artificial Intelligence (AI) systems perform tasks that are usually meant for humans. This has even raised a lot of questions related to the job security of the employees. However, as a small business owner, you need to find the right balance between human intelligence and AI machines. You should incorporate AI in your day-to-day business essentials and make your employees better equipped with the change. In order to include automation in your workforce, you need to train your employees accordingly. So, you need to evolve the nature of your work to better introduce AI and machine learning in your business in 2022.

Artificial Intelligence

6. Enhanced Networking and Collaboration

Networking is a big trend that you cannot afford to miss. Small businesses should enhance their efforts and strategies by collaborating and connecting with other businesses instead of going solo. Networking will earn your business referrals from industry players. You will get to learn more about market perspectives, tap into other businesses’ experiences and shape up and improve your business game. Competition is unavoidable at this stage and one of the biggest ways to spreading your wings would be to network with like-minded people. Meet your competitors, join webinars, participate in small business award functions. Basically, try everything to collaborate and network with your fellow business owners in order to drive business growth.

Summing it Up,

Now that you are aware of these top 6 business trends for 2022, it will be easier for you to gauge success for your small business in Canada. Based on the trends that we’ve shared above; you can expect your business to see some considerable growth in the upcoming year.

To know more about small businesses in Canada, do not forget to subscribe to our monthly CanadianSME Small Business Magazine.

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