Here’s our take on what innovative SMEs will be doing this year.
Equity crowdfunding
With federal legislation recently introduced, we can expect to see increased crowdfunding activity. Unlisted public companies with under $25 million in assets and turnover can raise up to $5 million on crowdfunding platforms.
Technology suited to a millennial workforce
We’re likely to see small businesses adopting technologies and systems that capitalize on what is now the largest segment in the workforce – those in their 30s and below. This segment seeks fast paced, flexible working conditions which allow more work to be done remotely by highly automated, mobile-based systems.
Augmented reality
In 2017 it’s expected that companies will experiment with augmented, virtual and mixed reality at a rapid rate. For example, step-by-step virtual guidance could be delivered to an employee installing a new piece of equipment, reducing both inefficiencies and risks.
eCommerce
With nearly all consumers now researching and comparing products and services on the internet before buying, a quality online presence is key to providing a better, more interactive customer experience. Businesses that are well equipped to transact with their target audiences in this way will likely succeed.
Unique in-store experiences
This is the next era of real world shopping – businesses creating unique shopping experiences for their
customers using their brand’s strengths. An example of this is the success of pop-up stores which are tipped to perform well in the year ahead.
