As we wrap up and reflect on 2024, we look forward to what 2025 holds for small businesses. The outlook is encouraging: According to research, the majority of small business owners are optimistic about America’s economy. That optimism, paired with a well-informed small business strategy, could mean plenty of success in the year ahead. When you’re formulating your plans for 2025, consider the following trends:
- E-commerce. Online sales aren’t exclusive to the big boxes of the world anymore. In fact, E-commerce currently accounts for a fifth of all retail sales worldwide — a figure that is only expected to grow to 22.6% by 2027. If you’re not offering your products or services online, you could be missing out on opportunities to grow sales.
- Online marketing. Likewise, if you’re not promoting your brand online, you may not be reaching as many consumers. 73% of small businesses have a website. Furthermore, most small business owners use social media platforms to build brand awareness and promote products and services. There have never been more ways to connect with prospective customers than there are right now.
- Artificial intelligence. We’ve all heard the acronym AI. Aside from being a buzzword of the past few years, AI has real-world implications for small business owners. For example. 53% of small businesses now use AI-powered chatbots and virtual assistants for customer service. AI can help businesses streamline processes, limit human error, and enable employees to complete everyday tasks faster and focus on other important aspects of the business. It’s no surprise that studies are showing an increase in productivity from companies that implement AI into the workplace.
- Cybersecurity. In the digital age, data security and privacy remain a top concern for consumers. Small business owners can help prevent cybercrime by keeping staff up to speed on best practices, securing networks, updating software, and using multi-factor authentication.
- Customer experience. In today’s digital world, set yourself apart by prioritizing an interpersonal touch to create a positive experience at every level, from research to point of sale. That could mean greeting everyone who walks through the door of your brick-and-mortar store or writing a heartfelt email to the customers subscribed to your newsletter. At the end of the day, it’s all about meeting the customer where they are.
Whatever 2025 has in store, SBA is with you all the way. Connect with resource partners for business mentoring, counseling and training. Visit the MySBA Learning Platform for more information on E-commerce, marketing, cybersecurity, and more.