Trends Within Small Businesses

Company Going Over Business Trends.

Business Trends/Events

Trends are always changing especially business trends. I have found that a lot of the trends that happen towards businesses are economic based. There are also trends within certain business ideas that are specific to that category. For instance some fitness trends may affect companies that are based on fitness.

There are a few trends that have been going on for the last couple years that have seemed to affect every business. These are trends within the economy. Let's dive a little deeper into these shifts of business.

Having a Hard Time Hiring Employees?

We Are Hiring Sign.

With the current economy not doing as hot as it has done in years past, small businesses (and even some bigger businesses) are struggling to find employees. Have you noticed an increase in "Now Hiring" signs at a lot of stores and restaurants lately? Yeah, me too!

So why is happening? Well there could be lots of factors that play a role in this. Some say it's inflation. Some say it is people on government assistance. I think it's honestly a mix of both. When COVID-19 happened and the whole world shut down, we as a society had to adapt.

Some companies made it possible for people to work from home. The government offered more government assistance, making it so you didn't need to work. We also so an increase in small businesses having to shut down. These are all possible reasons for why it is so hard to find employees right now. Some things we can do is, help the businesses within our community and hope that this trend changes in the future for the better.

Working From Home and Its Impact on Businesses

Graphic Designer Working From Home.

We have seen a huge increase of people working from home lately. I especially am hearing of my friends or people within my neighborhood that work from home. I have noticed that is mostly people within the age group of 20-30. People working from home has its good as well as its bad.

As talked about above when these higher up companies are offering online jobs to potential employees of small business, it makes it harder to find employees. A lot of smaller businesses don't have the luxury of offering at home positions.

I feel that it some cases at home jobs can be very beneficial and good. I also feel that it's almost like we are getting rid of the traditional "hard days work". Life before the pandemic and even before technology was always one way. When you grew up you got an in person job. Now with todays advances and the affects of the pandemic, it's not quite as common.

Trends With Inflation

Business Owner Going Over Expenses and Profit.

Throughout this whole year, and the past year, we have seen a trend within inflation. It is at an all time high and is affecting businesses everywhere. Small business seem to be getting hit the hardest from inflation. Their suppliers are having to up the prices of their supplies, because of the shortage. Meaning that these business also have to up their prices in order to make a profit.

There are business like Fat Daddy's Pizzeria in Provo, Utah that are having to change the way they run their business, because of inflation. The owner of Fat Daddy's recently talked about how he has implemented a policy where he will not fire his employees. He can not stand to lose any more employees, so instead he trains them and teaches them where he sees they need improvement.

Inflation is only seen to keep rising in the year to come, and as small business owners we better hold on tight. Try to keep your business as local as possible to help those surrounding small businesses. Hire, buy and sell local. It is important in todays economy to support our small businesses.