Fridges that restock automatically? Self-service hotels? Cars that drive themselves? There’s certainly an appetite to be as up-to-date as possible when it comes to the latest innovations and technological game changers. With forward-looking events such as Future Fest, Future Works, SXSW and the Consumer Electronics Show becoming bigger and bigger every year, these ideas are moving closer to being part of every day reality.
But what does the future hold for small business? How will technology developments affect them? Will jobs change? Whether you decide to fully engage with the latest technologies or not, your business will certainly see some dramatic change over the next few decades. Here’s why:
A faster pace of change
The world will be very different in 34 years. In 2050, it is predicted that the world will be seven times richer than it is today, the population could be more than nine billion. One thing is for sure, experts say – the speed of change is getting faster. At the beginning of this century, it was estimated that 20,000 years of progress would be crammed into the next 100, and it now appears that we are moving even faster that.
It’s easy for small businesses to feel overwhelmed by the pace of change. But having a clear, sustainable purpose and long-time view will help them attract and retain employees and customers, become more agile when it comes to making decisions and keep up with the competition.
Rise of the robots
Many have expressed concerns that robots will make jobs redundant, but although some have been replaced by machines, others have been created as a direct consequence of new technology.
In the future, it’s certain that office and administrative functions will decline. Technology will facilitate everything from ordering stock to managing employees’ holidays. Your role as a small business is to make sure you’re using technology to save resources in the right places – and developing your employees’ skills to oversee such developments.
If you run a fleet, for example and are introducing self-driving cars, you will still need to decide who in your company will be in charge of acquiring licenses.
Collaboration
With more automation on the way, we are likely to enjoy more leisure time and freedom to work how and where we want. Jobs and careers are already changing and becoming more fluid, but experts estimate that around 65% of children entering primary school today will later work in roles that don’t currently exist.
Developers, governments and small business are all going to have to work together better, and collaboration and networking will become even more important. The capacity to combine and connect know-how will be key. When you meet people now, consider who will be a good connection for your future plans, and how you can you go about building a strong relationship with them.
The social agenda
The last few decades have revealed the impact humans are having on the planet, thanks to scientific and technological research that is growing more sophisticated every day. Small businesses will subsequently need to shape their strategies to fit the social and environmental agenda.
Whether this means complying with new legislation, incorporating a social responsibility programme, or taking measures to reduce your impact on the environment, there will is likely to be a fundamental shift in the way your business operates.
Content on this page is paid for and provided by Kia Fleet sponsor of the Guardian Small Business Network Accessing Expertise hub.
