Entrepreneurship Trends: 2020

As we move into 2020 and begin to cast an eye to the future of entrepreneurship there are a few principles that nobody can afford to overlook. The rise of AI, growing concerns over climate change and the ability of the market to respond to shifting political and economic realities are all influences that every industry will have to address. Whether these represent challenges or opportunities for you and your business in 2020 and beyond will depend on how you plan. Keep an eye on these trends as you move forward.

The era of the big, sprawling business model is coming to a close. Businesses that hope to be able to weather the storms that come with shifting economies and rapidly changing political situations will need to do so by focusing on one or two things with laser precision. In order to maintain growth while playing it safe, businesses are forced to find ways to remain light on their feet.

Increasingly, entrepreneurs are using technology to trim the budget and make their operations run more efficiently. This trend doesn’t show any signs of abating, going into 2020. For entrepreneurs that means utilizing technology to make your operation more responsive, less wasteful, and cheaper to operate than traditional start-ups. This includes using productivity software that allows your team to collaborate more efficiently, regardless of their geographic location.

It’s not all tech.
Not every great idea or exciting start-up comes from somebody who knows how to code. While learning to code is still a useful and lucrative skill, increasingly we are seeing crossover partnerships in which great thinkers are pairing up with great programmers, engineers, or otherwise tech-savvy people to create flourishing businesses. Entrepreneurs shouldn’t feel wedded to IT or AI. Sometimes simple, analog thinking is the most revolutionary and sustainable way to go.

Finally, the future seems to be increasingly including AI, and that can make some people nervous. While the increased use of AI in almost all industries is a trend that entrepreneurs will have to contend with, it also offers its own set of opportunities. AI is more than a trend, it’s a conversation that the world is having about the future to work.