About 30 percent of small businesses fail within the first two years of operation. As a small business owner, it’s important to stay up-to-date on current trends. Otherwise, you could miss out on opportunities to grow your company. Here are five trends predicted to be important for small businesses as we head into 2023.

  1. Mobile first. If you’re not mobile first, then you’re behind. In fact, Google has made it clear that mobile search will become more important than desktop search as we move forward. This means that if you aren’t making sure your website is optimized for mobile users, you’re going to lose customers.
  2. Social media. Social media has changed the way people interact with brands. Nowadays, consumers expect companies to respond to them directly through social channels. They also expect businesses to engage with them in real time.
  3. Workplace culture. In addition to responding to customer service requests, small businesses should also consider how they treat their employees. If an employee feels appreciated and valued, they’re more likely to perform at their best. Studies have found that a negative workplace culture can affect an employee’s decision to leave 10 times more than factors such as compensation.
  4. Sustainability. There are many ways that sustainability can benefit your small business. One of the biggest benefits is the impact it has on the environment. By reducing waste and using more efficient processes, companies can reduce their carbon footprint and save money. They also can improve employee morale by creating a positive work culture.
  5. Artificial Intelligence. As AI becomes increasingly sophisticated, businesses are using it to improve customer service, automate processes, and create new products. For example, Amazon uses AI to predict what customers want before they ask for it. And Google uses AI to analyze data from millions of users to help them develop new products.

Datalou is the only supplier diversity management system with over one million suppliers with specific capabilities in advertising, marketing, communications, and media. Our robust tracking and reporting system helps you document spending and sourcing efforts, manage certifications, and share data with stakeholders.