Question

Business owners and industry experts weigh in on what emerging trends they think present the greatest opportunities for entrepreneurs. Appraise some of the key business trends that could be adopted by entrepreneurs for business start-up.

Answer 1

Some of the key business trends that could be adopted by entrepreneurs for business startup are sustainability practices, data analytics and e-commerce.

Sustainability is increasingly becoming an important issue in business. The entrepreneurs can adopt this idea for business startup with offering consultancy and ideas about sustainability. They can provide expertise in introducing sustainable practices in business organizations by efficient use of resources, having policies for sustainability and starting practices that are sustainable with environment and costs.

Data analysis is another area that is new. Mostly businesses are not expert as it is technology driven concept of data mining and business intelligence that can help the business in many ways. The firms can start up a business offering data analytics to the business organizations to understand trends, analyse customer behaviour and competition.

Online business startup are growing in demand. If the start ups firms open a business in online sales of products, it satisfies growing consumer demands and innovative ways of doing business that offers growth and customer satisfaction.