Looking forward to 2021, there are numerous trends for small businesses that offer glimpses of solutions for those that are bold and innovative enough.
WASHINGTON, DC, UNITED STATES, December 28, 2020 /EINPresswire.com/ — Micro, Small, and Medium-Sized Enterprises Established as the Core Source of Generation throughout the Global Economy
The International Council for Small Business (ICSB) in December 2019 said the number one trend for 2020 was the End of the Status Quo. We called it because the status quo is no longer enough. To say it falls far short (to the tune of 60 million jobs that need to be created by 2030) is an understatement of fact, and it is failing even strong economies and (in particular) vulnerable ones alike. The wheels of change need to be set in motion immediately.
Then Covid-19 happened, and it was much harsher and more dramatic than ICSB expected. The new decade started with much death and sadness. Human Progress took a step backward.
Yet, what makes us human is the unequivocal and relentless will to hope!
The dawn of 2021 finds the world in a state of tension and uncertainty. The consequences of the COVID-19 pandemic have been dramatic and catastrophic for many businesses and entrepreneurs around the world. Governments are looking to each other as well as the private sector to forge new solutions to the problems facing us in these volatile times.
Although the past 12 months have challenged all of us in the business world, we still believe that MSMEs and other forms of sustainable, humane entrepreneurship provides the best framework for a quick and explosive recovery. MSMEs are the most flexible, and the most in touch with their local communities. This allows them to extend the principles of frugal innovation further and expands the possibility of what this recovery can look like.
Forward momentum in these areas is still being seen to some extent. Sustainability is on everyone’s mind. The Gulf region continues to open itself up. The middle-class in Africa is on the rise, and countries re-examine their social contracts with their citizens. But is it enough? MSMEs have power and can play a crucial role in shaping the destiny of their businesses. They have actions and options available that they can take to minimize the disruption to their businesses. MSMEs must educate themselves to understand the supply chain, how it works, and how it affects their business in various ways. It is also essential for them to know and understand the alternative actions that can be taken. Many voices, many perspectives, and many heads can be better than one. Silence will not end the struggle, but letting our collective voices be heard can influence positive action.
Although the pandemic has altered much of our previous expectations of 2020, there are still many positives and plenty of opportunities for businesses to take advantage of during these times. Looking forward to 2021, there are numerous trends that offer glimpses of solutions for those that are bold and innovative enough to take them. Here are ICSB’s top trends for 2021.
Watch the 2021 Top Ten Trends for Micro, Small and Medium-sized Enterprises.