Now that 2015 is here, what can small business owners expect to happen? There’s no single crystal ball, but we found a lot of predictions for the year ahead from various sources. Here’s a round-up of some of our favorites: Look for substantial growth of institutional lenders for the small business marketplace . Insurance companies and other non-bank financial institutions have emerged as the go-to source for long-term loans to credit-worthy businesses at attractive rates . Rohit Arora, contributor for Inc. Competition for employees will ramp up. After years of easy hiring, economic growth is making it harder to find skilled employees. Barry Moltz, contributor for American Express Open Forum “Social responsibility” is gaining traction. In this era of social media, a company that is solely a bottom-line entity will lose good employees, good customer and goodwill. Phil Holcomb, quoted in Staples.com Rising costs will continue to threaten the ability of many small businesses to offer healthcare coverage. In 2015, a dollar’s worth of health care will still cost a dollar. However, the patient will be paying more (and harshly more if they exercise 'choice'), and the insurer will be paying less. Larry Downs, quoted in NJBiz “Big data” becomes more valuable for small businesses. Now, small companies can buy sophisticated analytics tools for very little money, and sometimes these smaller companies can absorb and exploit these technologies faster and better than larger organizations can. Linda Henman, quoted in Staples.com Security threats will grow stronger and more prevalent. A key culprit: Ex-employees who can still log in and access systems at their former employers. Barry Moltz, contributor for American Express Open Forum More clients will come to your business through your website than through your doors. Today’s buyers increasingly rely on the Internet to find sellers and support their purchasing decisions. Once visitors come to your website it is crucial that you capture their data using a webform. Otherwise, you are losing them forever. Didi Zheleva, writing for Intouch Small businesses will “win” the local war . In the web-based world, small businesses have had a tough time standing out and getting found online. But in 2015, the growing influence of mobile on platforms like search engines and social medial will shift the advantage in favor of small business. Julie Murphy, writing for Constant Contact Marketing automation technology will help small businesses cultivate customers. Use of marketing automation is soaring, and most of the new adopters in 2015 will be small businesses. People need convincing, nurturing and constant contact before they convert from leads to buyers. 2015 is the year when small businesses will need to develop a relationship with prospects before you see an actual sale. Didi Zheleva, writing for Intouch Reviews become even more powerful. In 2015, reviews will be increasingly essential in converting casual prospects into paying customers. Court Cunningham, contributor for Forbes
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