What will the rest of 2024 bring for small businesses?
In this guide, we’re covering 10 of the hottest small business trends you should keep an eye on.
They focus on different aspects of business—from digital marketing to workforce management.
Let’s get started.
1. More Consumers Will Involve Sustainability in Purchasing Decisions
Consumers are growing more concerned about the environmental impact of their purchasing choices. Which means businesses need to focus on sustainability more than ever.
In fact, 68% of consumers report that a company’s sustainability practices have “at least somewhat of an impact” on their purchasing decisions, according to Visa’s Global Back to Business Study.
The same study further reveals that more thanthree out of four consumers are willing to pay more for sustainable products/services.
Patagonia, an outdoor recreation clothing retailer, is a great example of a brand actively incorporating sustainability measures. Their environmental responsibility programs page serves as a proof of their focus on sustainability:
Here are a few sustainability practices to implement and promote to your target audience:
- Re-evaluate your supply chain to find ways to minimize your environmental footprint
- Use eco-friendly packaging like compostable materials to cut back on waste
- Try sustainable delivery methods like using electric vehicles to reduce emissions
2. The Use of Generative AI Will Increase
More small businesses are expected to increase their use of Generative AI tools. Two out of three small business owners plan to try out Generative AI within the next 12 months, according to a Freshbooks survey.
It makes sense.
Generative AI can help small businesses do more in less time and at a lower cost. Like creating social media content, writing blog post outlines, generating emails, etc.
For example, you can use a Generative AI platform like Midjourney to produce creative and engaging images based on prompts. You can also upload your own images for reference.
Here’s an image we created using Midjourney for a doughnut shop based in Chicago:
Another generative AI use case is Semrush’s ContentShake AI. This tool helps you generate content ideas, build outlines, write articles, and optimize content using competitive market data.
Here’s an example of a blog post outline created with ContentShakeAI:
Here are some other popular ways small businesses can use generative AI:
- Generate job descriptions
- Improve customer service communication
- Generate on-page SEO elements for your website pages like title tags and meta-descriptions
- Extract insights from datasets
3. Employees Will Continue to Prefer Remote Work
A FlexJobs survey shows that 96% of employees want to work remotely at least part of the time. Which means small businesses that offer remote work will likely see an increase in employee satisfaction and loyalty.
For example, Scilife, is a fully-remote tech startup with employees based in different parts of the world. Which they mentioned in this LinkedIn post:
Being 100% remote helps them attract and hire top talent while also reaping cost savings on office space and utilities.
While adopting remote work may not be possible for all kinds of businesses, those that can embrace remote work will have a competitive advantage.
How can you ensure a successful transition to remote work?
Here are a few tips:
- Invest in collaboration and communication tools that keep everyone on the same page
- Develop clear remote work policies that help everyone understand expectations
Use Small Business Trends to Gain Competitive Advantages
These small business predictions can help you keep your customers and prospective customers happy, improve your business operations, and stay ahead of the competition.
That’s even more true if you take advantage of the right digital marketing tools.
Semrush gives you access to a complete suite of options for SEO, content marketing, paid advertising, and more. Which you can use to start capitalizing on these trends before they become commonplace.