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New Year, New Opportunities

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As Albert Einstein once said, “You never fail until you stop trying.” For many employers, these are wise words to remember as we change the calendar year and usher in new opportunities in 2022. Indeed, with all the challenges businesses are facing, the new year may be just the right time for organizations to take a fresh look at their operations and some of the small business trends happening now.

According to a recent article in All Business, here are the top eight trends in the business world:

  1. E-commerce will continue thrive. More and more businesses owners are looking beyond bricks and mortar to sell their products and services online.
  2. Remote work will continue to be popular. According to a Forbes’ Global Survey, over 75 percent of respondents believe that hybrid/flexible work will be a standard practice within their organizations in the coming three years.
  3. Communications applications will grow in importance. Applications and tools, like video conferencing software and messaging platforms, have been booming since COVID struck, and like remote work, they will probably be around for quite some time.
  4. Cashless payments will become the standard for businesses. As technology advances, more cashless payment options — credit/debit card, mobile or digital wallets and payment apps — will become available, which means businesses will have to keep up with customers.
  5. More and more events will be virtual events held online. Not only do virtual events expand the reach and allow for more attendees, but it is becoming common to have a virtual option in addition to in- person offerings.
  6. Personalized artificial intelligence will become more commonplace. This includes everything from chatbots on websites and social media, smart assistants, facial recognition, personalized recommendations, fraud detection systems, as well as personalized ads and marketing.
  7. Video marketing will continue to grow in popularity. Approximately 84 percent of people say a brand’s video convinced them to buy a product or service. And, 54 percent of consumers want to see more video content from a brand or business they support.
  8. Gig workers will make up a large part of the workforce. Freelancers, or gig workers, represented 59 million in the United States last year, and that is only expected to continue in the new year as employers continue to face a worker shortage.

In this edition of the MBA Business Magazine, we’ll also highlight the importance of insurance and employee benefits in today’s work world, and how USI Insurance Services, which has been expanding its operations in northwest Pennsylvania, is positioning itself to help even more employers throughout the region.

We’ll also hear about some exciting new developments under way, including at Edinboro University, which is embarking on a major transformation in its 165th year. Plus, don’t miss our special section recognizing the hundreds

of MBA member companies that are marking milestone anniversaries in 2022!

For more information about how the MBA can help you attain organizational success, visit mbausa.org.