Here’s our take on what innovative SMEs will be doing this year.
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.
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.
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.