What Should Small Businesses Expect Next Year?

What Should Small Businesses Expect Next Year?

It seems as though every year is an eventful one for the small business sector, and 2015 is shaping up to be no different from its predecessors. There are many ways in which owners will have to adapt to changing environments both in their industries and the broader business world, and the more they know about these things in advance, the better off they’re likely to be going forward.

One of the biggest things that many companies have already had to adapt to is the way in which social media has become such a big driver of success, and next year will be no different, according to a report from the Huffington Post. The fact of the matter is that many companies will have to keep close tabs on the ways consumer preferences on these sites is evolving, and what their companies will have to do to keep up in the coming year.

Companies will also have to keep a watchful eye on the federal lawmakers in Washington, D.C., as well, because with the new Congress being sworn in soon after the start of the new year, many things could soon change, the report said. Republicans having taken over the Senate means that one party controls both sides of the bicameral legislature, and that could expedite many policy shifts. One thing that may be targeted in particular is the Patient Protection and Affordable Care Act, and recent polls show that the majority of small business owners are in favor of at least some changes to the ways they’re being required to provide coverage for their workers.

A more troubling trend
This is also true of the changes related to how small businesses will need to protect themselves from security risks, the report said. Hacking attacks are hitting more businesses of all sizes these days, and smaller companies may be particularly vulnerable, simply because of how little they have to spend on beefing up their protections. For these reasons, the more companies can do to make sure they’re insulating themselves from various threats – including training, getting the latest security software, and so on – the better off they’re likely to be.

That might also include small business owners taking the time to shop for and invest in a kind of small business insurance coverage called tech insurance. This kind of plan can help to significantly reduce the costs associated with cleaning up a company’s house after it suffers a data breach.