Across the globe, small to large businesses are adapting to rapid changes as a result of the global pandemic.  In this article, we bring to you the top current business trends to help you successfully navigate 2022.

 

#1 Effective use of technology

 

Finding the right balance between using technology versus employing someone to complete a task can sometimes be a little tricky.  If you are looking to implement technology to enhance business productivity, it might be worth your while checking out the Productivity Solutions Grant (PSG) where the government offers to cover up to 80% of the implementation costs.

 

#2 Agile organisation

 

Traditionally, businesses are set up in a hierarchical structure where everyone has a role to play in the organisation.  In today’s world, employees prefer to work in a more agile environment, with the ability to work across functions and responsibilities to achieve higher personal satisfaction.  Having an agile work culture will also allow your company to move at a much faster pace and to better adapt to the constant business environment changes. 

 

#3 Remote or hybrid working is here to stay

 

There has been a shift in relation to the physical location of where people work since the onset of the pandemic in 2020.  This remote working or working from home is here to stay.  Ensure you implement the flexibility where your team can work.

 

#4 Alternative financing

Traditional finance like bank loans and overdrafts are still around, but there are many businesses, especially SMEs who miss out. This funding gap has slowly been served by the alternative lenders in the fintech industry.  New technology employed by fintech lenders has allowed businesses to obtain finance in a much simpler way and in a shorter timeframe. 

Fintech lenders like InvoiceInterchange offers invoice financing, allowing business to obtain immediate advances against their outstanding invoices instead of waiting 30, 60 or even 90 days to get paid by the customers.   Funds arrive at the business account within 24 hours upon approval.  It is a flexible and hassle-free cash flow solution.

 

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#5 – Sustainability

 

Businesses are now seeking ways to reduce the environmental cost of doing business in many areas.  From selecting your suppliers, what goes into producing your inventory is and the logistics involved all come into play.  

 

Above business trends are likely to stay on post 2022.  It is recommended to analyse your individual business needs and your customer trends to help your business identify your top priorities.

 

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