Every waking day, we are having tremendous changes in regulations and technology which greatly affect the way businesses operate. Some entrepreneurs will say the future is definitely bright but to others, some of these changes are meant to work against their expansion and business operations. Additionally, there’s growing empowerment and embracing of individuality which motivates more people to begin their entrepreneurship journey. But the big question is, what’s the future of entrepreneurship?
#1- The future is gloomy
From my vantage point as a financial expert, the future is gloomy as the greatest challenge we face is finding young people with great ideas, and the passion, and drive to make those ideas happen. We don't have enough young people taking on new challenges, developing their skills, and learning from their mistakes. Sad to say, in this time of startup fatigue, it's not seen as a good place to start a business. Perhaps, that is because they have already made it.
Thanks to Stella Scott, EasyPaydayLoan!
#2- It will consist of new solutions
The COVID-19 pandemic may have changed the way we work for good, creating unique opportunities for entrepreneurs in the process. The future of entrepreneurship will consist of new solutions that work anywhere, serviced by remote workers. Technology continues to develop productive environments that are location-independent, mobile-first, and social-commerce-centric. The new and future generation of successful entrepreneurs is already well-versed in working online out of necessity.
Thanks to Ray Leon, Pet Insurance Review!
#3- Financial opportunities for future women entrepreneurs
Today, we are seeing more growth in the creation and investment in female-owned businesses. This is having a tremendous impact on the creation of new jobs, and national economic growth, and is providing new educational and financial opportunities for future women entrepreneurs. While female entrepreneurs continue to have an uphill battle, such is softened through supportive industry networking and by their ability to better adapt and leverage limited resources.
Thanks to Rachel Roff, Urban Skin Rx!
#4- Entrepreneurs would do well
As the world changes around us, entrepreneurs would do well to consider what opportunities these changes bring. How does new technology improve upon an antiquated industry? How does the culture shift to make something previously unnecessary now relevant? The future is a combination of keeping your finger on the pulse and devising creative solutions to complicated problems in our everyday human experience.
Thanks to Ari Evans, Maestro!
#5- Feel more valued
What we once recognized as the traditional entrepreneur has now shifted to reflect the modern business leader’s own personal and professional priorities. This change is providing leaders and employees alike with positions that make them feel more valued, more connected, and feel a sense of purpose in their work. Entrepreneurship is becoming more about a company’s intrinsic values and the freedom of opportunity rather than a disconnected and unsustainable corporate culture.
Thanks to Leo Livshetz, UnHide!
#6- It will Be Creating an impressionable digital presence
Creating an impressionable digital presence is the future of entrepreneurship. It is no longer enough if you simply run a good service or sell products. Curating comfortable customer experiences by enhancing digital touchpoints is of paramount importance. Customers now want all information at the click of a button. Interaction, & assistance must be made available online & offline. Customers sometimes prefer automated, quick processes to choosing the traditional route.
Thanks to Yang Zhang, Plasmic!
#7- It is building an engaging personal brand
Without question, the future of entrepreneurship is building an engaging personal brand. I’ve worked with service-based businesses online for 8 years, & there has been massive growth in this online area & it’s not slowing down. Entrepreneurs are improving at sharing their voice and magnifying their personalities inside of their branding, and this is attractive & entertaining to audiences. When they also have a quality product that has great testimonials and serves the audience they’re attracting, everyone wins.
Thanks to Nikki J, SalesSong Studio!
#8- It will be more digital than it is now
Entrepreneurship in the future will be more digital than it is now. Even non-tech enterprises will make the switch to digital. As the internet becomes more and more of a part of people's daily lives, social media's relevance and influence will only rise. Digital enterprises have the ability to contact a large number of people. Advertisements, search engines, and social media all give businesses the chance to increase brand awareness and market influence.
Thanks to David Floyd, ThePestInformer!
#9- It is going to be a lot like the past
I think the future of entrepreneurship is going to be a lot like the past. I mean, there will be new technologies and services and products, but I think it's going to stay pretty much the same in terms of how people think about entrepreneurship. It'll still be about starting your own business and doing something you're passionate about. It'll still be about taking risks and being your own boss. It just might look a little different than it does now because we'll have more tools at our disposal than ever before.
Thanks to Masha Mahdavi, SEM Dynamics!
#10- Artificial intelligence advancement
The fading of the link between new business ideas and employment creation is the most significant trend for the future of entrepreneurship. Only a few years ago, it was common practice for new businesses to instantly hire staff to handle administrative duties. Because of internet outsourcing and automation, many expanding firms can now be managed by a single person for an extended period of time. This effect will be increasingly pronounced as artificial intelligence advances.
Thanks to Daniel Foley, Emma Sleep!
#11- It will be a component of every business
I believe that entrepreneurship will become ingrained in the DNA of all businesses in the near future. It will no longer be limited to startups and small firms; every organization, including those that have been operational for decades or more, will be entrepreneurial. Entrepreneurship is a mindset, a way of life, and a part of who you are and what you do, whether you're running a technology company, a non-profit, or a service organization. Entrepreneurship entails being adaptable, resourceful, scrappy, and current. Being an entrepreneur means surviving, growing, and thriving.
Thanks to Sara Johansson, Onsiter!
#12- All about finding new ways to work smarter
I believe that the future of entrepreneurship is all about finding *new ways to work smarter*, not harder. We've seen a lot of people in the past couple of years trying to make it big by working themselves to death and sacrificing their health for their business. It's an unsustainable model, and I don't think it's going to last long. The future of entrepreneurship will be about finding ways to work smarter so that you can get more done without sacrificing your health or your personal life.
Thanks to Ben Price, Heatable UK!
#13- It has a bright future
Entrepreneurship has a bright future, but I believe it will become increasingly competitive as if it wasn't already. We've reached a tipping point where young professionals perceive a brighter future working for themselves, resulting in a flood of new business owners entering the ecosystem. Even workforces are becoming more agile, on-demand, & entrepreneurial. Business owners will be forced to hire a freelancer rather than a full-time employee, putting pressure on the full-time employee.
Thanks to Jeffrey Nelson, NoLimitsTiming!
#14- It's going to be defined by the digital world
The future of entrepreneurship is going to be defined by the digital world. The remarkable growth of technology enables entrepreneurs to do everything faster and more efficiently. Already living in a digital society, virtually every aspect of life has been digitized for convenience, and entrepreneurs need to capitalize on that. With this rapid evolution of technology, we are also seeing the highest overall global potential for entrepreneurs ever.
Thanks to Phillip Akhzar, Arka!
#15- It is bold ingenuity
The future of entrepreneurship is bold ingenuity. It's prioritizing balance in your work life, and being conscious of how your business affects your community. It's putting your employees first – collaborating with your team instead of expecting them to blindly follow orders. The future of entrepreneurship is jumping headfirst into uncharted territory with a positive mindset and a willingness to adapt. It's challenging, it's uncertain, and it's endlessly exciting.
Thanks to Christen Costa, Gadget Review!
#16- Weaker connections between business ideas & job creation
The most important trend for entrepreneurship in the future is that the link between new business ideas and employment creation will deteriorate. Only a few years ago, most new businesses required workers almost immediately, even if only to do administrative responsibilities. Many developing firms can now be run single-handedly for an extended period of time because of internet out-sourcing and automation. This effect will become more noticeable as artificial intelligence advances.
Thanks to Ricardo Pina, The ModestWallet!
#17- The future of entrepreneurship is the youth
The future of entrepreneurship is youth. Social media has opened the door to more and more young individuals displaying their creativity but also building up their finances, which includes creating a massive audience. The first barrier to any entrepreneur is getting known – it doesn't matter what you are selling because no one can do business with you if they don't know you. This is not a problem they will face, as they literally started their empires before they were old enough to drive.
Thanks to Laura Doyle, Laura Doyle Connect!
#18- We're well into the great resignation
I think it's fairly safe to say, now that we're well into the Great Resignation, that entrepreneurship still holds a very big appeal for many people. Now, with the success and ubiquity of the internet, it's easier than ever before to become an entrepreneur and have a global presence. The appeal of working for yourself, setting your own hours, etc. is greater than the appeal of working a mostly dead-end job where you have no say in much of your day-to-day.
Thanks to Kyle MacDonald, Force By Mojio!
#19- Sustainability efforts are now prioritized
As environmental and social awareness continues to grow, sustainability becomes more top-of-mind for consumers and businesses. We will expect to see even more companies supporting sustainability as part of their business model in the years to come. Companies that embrace sustainability as part of their business, rather than simply complying with regulations, will be the ones that reap the long-term benefits of improved competitiveness and protection of their brand and reputation. In addition, employees now are seen favoring working with companies
Thanks to Matthew Post, WCAG Pros!
#20- People began to rethink their priorities
The future of entrepreneurship is bright. Amid the pandemic, a lot of people began to rethink their priorities in both work and life. Indeed, a wide swath of the workforce became disillusioned with their jobs, the corporate rat race, and the 9 to 5 grind–leading to the Great Resignation. Many of those who've quit their jobs are considering striking out on their own as a way to explore their passion while creating the opportunity for greater time freedom and unlimited income.
Thanks to Karen Hittelman, Grab Your Happy!
#21- There are more opportunities
As a woman entrepreneur, I see the future of entrepreneurship as bright. There are more opportunities than ever before to start and grow a business. The internet has made it easier than ever to connect with customers and other businesses worldwide. And there are more resources available than ever before to help entrepreneurs start and grow their businesses. Women have a lot to offer the world of entrepreneurship, and I believe we will see more women starting and growing successful businesses in the future.
Thanks to Mary Hunderson, Themeple!
#22- The world is not the same after the pandemic
The effect of the pandemic on the world economy is no less than an open secret. Consumer expectations are not what they used to be due to which digital entrepreneurship is in full bloom now more than it was ever. We are entering into a new and exciting era of marketing that is full of diversity, is more connected than ever, and is equipped with mind-blowing talent. The future is entrepreneurship for sure!
Thanks to Abe Breuer, VIP To Go!
#23- It is all about personalization and authenticity
Running your business in the best way for YOU, and not according to anyone else's standards or expectations. While there will always be general marketing and sales tactics that produce results, entrepreneurs will continue to seek solutions, coaches, and mentors that align with their values and with the unique way they are designed to do business. We'll see more systems of self-awareness like astrology, human design, & enneagram become mainstream in helping entrepreneurs navigate managing their energy, and we'll see more conscious leaders emerge as the ones to follow.
Thanks to Chelsea Jewel, Chelsea Jewel LLC!
#24- Seizing the new age
It is undoubtedly getting easier to become a global entrepreneur with the digital age evolving at high speed. With convenience as the primary factor for innovation and the next generation of youth thriving to break the chain of salaried jobs, I see the digital age of entrepreneurship as a matter of speed, strategy, and intelligence. COVID-19 paved the way for new technology and the way I see it, the speed of change is more phenomenal than ever.
Thanks to Caitlyn Parish, Cicinia!
#25- Democratizing technology
I believe that innovation for entrepreneurs starts with the Democratization of Technology. In the tech industry, I see entrepreneurs gearing towards gaining access to technology that was once not accessible to them. The great democratization of technology is being driven by an array of enablers including natural language processing, low-code development platforms, robotic process automation, and many others. Consider the potential of a future entrepreneur.
Thanks to Victoria Mendoza, MediaPeanut!
#26- Increased demand in mental wellness businesses
This includes an array of businesses that fit in as promoters of mental wellness, including therapists, yoga, and fitness trainers, as well as the sale of products that help with mental health including anxiety & depression medication. The world is headed to a place where everything is about to become too much. A lot of mental health practitioners including life coaches & therapists will have the required skills for the future of entrepreneurship.
Thanks to Evelyn Ott, Soul Canvas Ink!
#27- A tool for social change
Entrepreneurship is evolving and we see more and more organizations that go above and beyond just making money. I see entrepreneurship as a massive tool for social change, where entrepreneurs are set on a mission to make the world a little bit better. We’ll have more serve-first entrepreneurs who genuinely want to provide solutions to customers’ needs rather than fatten their wallets.
Thanks to Jeffrey Zhou, Fig Loans!
#28- The world is becoming more connected
The future of entrepreneurship sees a connected world. The world is becoming more connected, and local entrepreneurs have a global reach. As long as you have internet access, you can start a business and reach out to anyone around the globe. This will also empower local entrepreneurs to compete with global brands. In addition, the world is changing at a very fast pace, and entrepreneurs are the ones who are making these changes possible.
Thanks to Chad Brinkle, High Country Offroad!
#29- Work-life balance has also become a bigger concern
The future of entrepreneurship is looking incredibly bright. More and more people are making the jump from the corporate world to the self-employed, with more than one million people per year making the leap. Work-life balance has also become a bigger concern for businesses recently, meaning a growing number of companies are accommodating the needs of their workers. This means a lot more flexibility, which is something that is particularly important to entrepreneurs.
Thanks to Maria McDowell, EasySearchPeople!
#30- Entrepreneurs have found ways to survive
The great resignation period and the labor crunch that came with it forced businesses to become creative with their business processes. entrepreneurs have found ways to survive with smaller remote teams, while still maintaining the customer experience. This may involve the use of automated systems, machine learning, conversational artificial intelligence, or even the use of low-code platforms to develop software products. The long-term effect of the crunch will be seen in how entrepreneurs onboard new talent. This will certainly determine the future of entrepreneurship going forward.
Thanks to Linda G Thompson, Notta.ai!
What's the future of entrepreneurship? Tell us in the comments below. Don’t forget to join our #IamCEO Community.
