2016 is almost over and, like every entrepreneur, we are excited to see what 2017 has in store for us. We went through a few articles, surveys, and online pieces and here are some business trends to watch out for.
1. Rise in Popularity of Shared Spaces Among Millennials
In 2016, we have seen the rise of virtual offices, coworking spaces, and serviced offices. For 2017, we will see this segment grow even more as more millennials choose office spaces that can provide, convenience, flexibility, and affordability. By 2017, the first generation millennial will be 30 years old, marking the entry of this group into managerial positions. With this, it will be expected that these new managers may choose to house companies or their workforce in more flexible and practical spaces.
2. Blended Workforce
A culture of collaboration continues to grow in 2017. In the past wherein a company will have an in-house designer, accountant, and other job functions, 2017 will see a rise in freelancers, corporations, and public groups working together. In 2016, we were able to see this in the Philippines through the creation of the country’s Start-up bill. 2017 will definitely bring more opportunities for all types of groups.
3. Continuous Employee Reviews
In the past, employees are evaluated once a year or every quarter regarding their work performance. However, employers are realizing that this once a year meeting isn’t effective in measuring one’s performance. Now, there has been a movement that focuses on continuous employee reviews which not just checks on an employee’s progress, but also helps both parties assess the best area where an employee can grow and contribute to the company.
4. Crowdfunding Validates Ideas
According to Clay Hebert, crowd funding and marketing expert, “Smart companies are using crowdfunding to not only raise capital, but to validate products before making substantial investments in product development.” In fact, by the end of 2016, crowdfunding is said to surpass venture capital globally. Big companies are also getting on the crowdfunding train, and this is seen to increase even more on 2017.
5. Video Becomes Main Form of Content
If Snapchat is any indication, video is the most popular form of content. In Hubspot’s Consumer Behavior Survey, 55% of users watch videos for content versus reading an article (33%) or blog (29%). According to Forbes, 80% of executives are watching more online videos today than a year ago.
What do you think of these new trends? Is your business ready? Or are there other trends to watch out for? Let us know!
MyOffice is a virtual office and coworking space located in the Philippines. Established in 2004, the company currently has three branches in the country’s financial districts of Makati City and Bonifacio Global City. MyOffice offers various business solutions and work spaces that cater to the needs of start-ups, freelancers, and mobile entrepreneurs. Services include use of business address for permits, inquiry handling, call answering and transfer, mail receiving and forwarding, PO box, meeting rooms, private offices, and many more.