The Intuit 2020 Small Business Report – 20 Trends for the Next DecadeMay 3rd, 2011 | Online & Small Business Resources,Small Business | No Comments »
According to Inuit, April was a good month for small businesses. Small business employment grew by .3%, which is good in this economy. This is about 60,000 new jobs! It wasn’t only jobs that went up, the number of hours employees and the amount they earned also increased. Inuit is a company that helps customers manage their small businesses. These numbers are taken from it’s own data of users who use it’s online payroll method.
The numbers in April are part of an ongoing trend; for the past year and a half, employment has been increasing throughout the country. The trend in October 2009 and has created a total of 845, 000 jobs. That’s a sign things are improving! April also had the largest number of hours worked for this year. The monthly pay also increased 0.5% from March.
Also, Inuit recently released a small business report. (the link is a PDF file) Here’s what you need to know. It’s a very interesting prediction of the future based on the trends of today. Here are some of their key findings in summary form:
- The younger generations are going to make drastic changes in technology. Why? They’ll have grown up with technology all around then and will know it better than older generations.
- Baby boomers will get older, but don’t count them out! They’ll be getting more active and entrepreneurial.
- Women are going to drive the market. They’ll become leaders for businesses, government and so many industries.
- Economic hard times will make people move to urban areas
- Social Networks will fuel economies. Two words. Information flow and you are seeing it right now.
- Customers will have much greater control of relationships with businesses.
- Work will shift more from full time employment to a free agent economy.
- Data will be critical for businesses to compete and keep a competitive advantage.
There’s more, much more. The entire report is 27 pages. This is just a sample of how the report is, a giant list of factors that will become more important in the future and it is worth a read.