Are you the owner of a small or medium-sized business (SMB)? Maybe you’ve just recently launched a start-up and are looking to secure its financial stability for the long-term future. Whatever the case might be, this guide can certainly help.
At this moment in time, most business owners are worried about the future. A recession is on the horizon, customers are less willing to splash money, and bills are going up. Don’t worry, though: the future is still bright, but it will be filled with challenges for SMBs and large companies.
Fortunately, time is on your side. If you take action now, you can future-proof your business. Not only is this good news for your customers, but it’s also great news for your employees and investors.
So, what do you need to do as a business owner? Here’s a closer look.
Use Cloud Technology – It’s Worth It!
Cloud technology (which means internet-based technology) will be the driving force behind most businesses over the next few decades. By the end of 2022, according to TechJury, 57% of companies will have migrated their workloads to the cloud, which highlights the direction this trend is going!
As such, with modern solutions like Azure management services, you’ll have the best possible cloud infrastructure for your business, from cloud storage to collaboration tools. Also, when candidates apply for jobs within your company, they’ll be able to see that you’re modern and cloud-competent, which will then make them more likely to join you.
Starting Hiring Remotely
Are you an entirely office-based business? If so, it’s time to start hiring remotely! The reason for this is that remote work is the future. Arguably, it’s already here. After all, between 2019 and 2021 in the US, the number of people working from home tripled from 5.7 percent to 17.9 percent.
By hiring people from remote locations, you can gain access to a wider pool of talent that might not be available in your local area. On top of this, it will also allow your business to cut down on some major costs – bye-bye, expensive office bills!
Also, according to Yahoo Finance, 42 percent of people aged 25 to 34 prefer to work from home. What this means is that if your business wants to attract talent from younger generations, you may have to offer remote work if you’re going to entice them in the future.
Paperless offices are the future. Businesses are already under pressure to go green, and one of the best ways they can do this is by ditching paper.
It’s also recommended that you incorporate other green practices into your business, such as recycling waste (as this will be another huge trend in the future).
Accept Different Payment Methods
When it comes to online shopping, customers each have their own personal preferences regarding payment methods. Some prefer credit cards, while others prefer PayPal. In some cases, customers even like to pay using cryptocurrencies. This is why it’s important to offer a variety of different payment methods for your customers.