Business Trends to Expect in 2020
2020 is now here and that means all businesses within the UK will be eagerly looking ahead. While it is always hard to predict what may happen in the business sector over the next 12 months, it is certainly worth trying to hazard an educated guess.
Doing so will help you plan your business strategically for what may come and also see you get ahead of the curve in terms of any positive business trends. Of course, it can also help you spot any trends coming up that you need to plan for or guard against!
But what are the key business trends many are predicting will dominate 2020?
Crypto Investment Set to Grow Further
One trend within business for 2020 looks likely to be increased investment in digital currencies by many UK companies. Many businesses will invest in cryptocurrency to expand their revenue stream and protect their operations from any quiet periods. The crypto market also offers great opportunities to make profits, thereby helping provide extra funds for businesses to use for growth.
Next-gen programs including The Profit Revolution make it simple to invest successfully in crypto and these platforms are expected to be used more than ever before by businesses investing in digital currency during 2020.
No-one in the UK business world will be surprised to see Brexit remain a major topic during 2020. Although things are moving forward after the Conservative’s general election win, the impact of Brexit and discussions around it within business will dominate in the next year.
The official deadline of January 31st 2020 for the UK to leave is fast approaching and many wonder what will happen after that to business between Europe and Britain. Even when that becomes clearer it seems likely that Brexit ramifications will affect some businesses adversely in 2020. As UK businesses begin to get to grips with exactly what Brexit brings, that is almost a definite possibility for some.
Although this is nothing new for businesses to consider, many think that climate change will be a major topic in company boardrooms in 2020. Recent years have seen more high-profile names bringing this issue to the fore and the public appetite for action is growing.
The net result of this for business in 2020 could be that extra pressure is put on companies to do more to tackle climate change on an individual level. This will require UK businesses to formulate plans to operate more sustainably or improve any plan they have in place already. The drive to recycle more and waste less is something that will form a large part of the overall business landscape in the coming 12 months.
Automation and AI
AI and automation are set to be a 2020 trend that most businesses will be affected by in some shape or form. The tech which underpins both is now affordable to most businesses in the UK and is also easier to use and implement.
AI chatbots are a classic example of this and many business insiders expect to see more products like them being used in 2020. It is widely thought that more companies will invest in this area in the next 12 months to help improve their efficiency and customer service.
Adoption of 5G Networks
Another trend likely in 2020 is the use of modern 5G networks within UK business. These are much faster than 4G ones and will allow staff to be more productive. 5G networks provide much faster internet speeds and that means it is ideal for business use, where factors like this are important.
2020 looks set to see 5G networks rolled out in many more locations around the country and to become less expensive – this in turn will see more businesses using it and it will gain a lot more attention as the year progresses.
2020 Looks Set to Be Another Busy Year
2019 was a big year in business and this will have been felt by anyone who runs a company of their own. The good news is that 2020 is shaping up nicely and looks set to include a number of fresh trends to keep an eye on.
While the impact of Brexit may leave many companies wary, other trends like more 5G networks and crypto investing paint a rosier picture, If you run your own business and want to know what may happen in the next 12 months, the above list will be useful.