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So what are the key business trends for 2020, and how could these affect your business in 2020?

 

1. Key Business Trend One: Workplace Well-being 

The environment, well-being, mental health and technology look set to be some of the big key business trends in 2020. As we move into 2020, businesses, including yours,  will have to adapt in a world that places greater emphasis on sustainable business practices. People will want to work for firms that take care of their employees, in terms of their physical and mental health.

 

2. Key Business Trend Two: The Use of Technology & Flexible Working

Technology will continue to be the key enabler to allow us to work flexibly, remotely and more effectively. It looks like 2020 is set to be a busy year for businesses in the UK and internationally.

 

3. Key Business Trend Three: Environmentally Aware

Another key business trend is that customers are becoming more environmentally aware. Companies like Beyond Meat, the maker of plant-based, protein-rich foods or Everlane, which creates clothes from recycled fibres and plastics, are gaining traction. People are trying to reduce their carbon footprint and are making buying decisions on the basis of the environmental credentials of businesses. As a result, businesses are responding by focusing on their environmental and sustainability policies. Many firms are adapting their CSR activities to include environmental projects, in order to help drive the green agenda in local communities. As we move into 2020, this trend is likely to accelerate and affect your business.

 

4. Key Business Trend Four: Artificial Intelligence (AI)

On the technology side of things, machine learning and artificial intelligence (AI) are continuing to advance. The AI industry is growing and your business could have access to more powerful tools, in order to create new customer experiences. For example, music-streaming service Spotify uses AI to make the listening experience more personal by creating customised play-lists for each user.

 

5. Key Business Trend Summary: Embrace New Trends To Attract The Best People

Younger workers are putting greater emphasis on physical wellbeing and their mental health. You, as an employer, will need to adapt in order to attract the next generation of talented employees. Flexible working and wellness programmes are high on the list of priorities for Millennials and Generation Z employees. If your business really embraces these new trends, you will surely attract the best people.

 

 

 

Lotuswise Chartered Accountants and Business Consultants can help you and your business succeed. To find out how, please contact us. To also get even more useful business and finance information and tax advice tips, check out our app on Google or Apple stores.

 

 

 

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