Globalization Trending in Business 2022

If there’s one thing that’s for certain, it’s that the COVID-19 pandemic severely impacted small and medium-sized businesses across the globe. Many small businesses had to pivot and shift accordingly and creatively in order to stay afloat in this post-pandemic world.

Can the Internet Save our “Ma & Pa” Business?

We can all watch the collapse of our brick and mortar small business fronts more each day; and these entrepreneurs may need to transit into the world of the internet accepting that globalization is here to stay and is growing at a rapid pace.

With fears of a deadly virus living on surfaces, governments had to make a difficult choice to close in-person shopping for non-essential items for months at a time, resulting in small retail businesses closing indefinitely. During the pandemic, most employees who worked from home did not want to return to the office and many of them have relocated from major cities to smaller, less costly towns.

Our world is rapidly changing and all must morph into this new reality, one way or another. Throughout 2020, the fast adoption of digitally connected technology has brought up a world of opportunities for globalization.

Sadly, the beauty of the ‘Ma and Pa’ business and rustic storefront lined streets are dying; probably almost dead struggling through this post-pandemic thinking. People no longer need to meet face-to-face; rather than that, they are moving to the online world.

Is Amazon Putting Small Business Out Of Business?

How many of you know this? There are more than 1 million small businesses who sell through Amazon. Actually, there are people who sell their products from a home business through Amazon, and couldn’t have done it otherwise.

While it’s often blamed for the fall of brick-and-mortar stores nationwide, Amazon also helps millions of small businesses thrive in the digital era. According to a 2020 published article “Small Business Impact Report” Amazon has helped more than 1.9 million U.S.-based small and medium-sized businesses (SBMs) generate more than $160 billion in 2018.

Which Businesses will Grow in 2022?

Industries to consider for business ideas in 2022:

1. Sustainability: According to NYU Stern’s 2020 market research, “sustainability-marketed products grew 7.1x faster than products not marketed as sustainable.”

2. Pet Services: Pet industry expenditures grew from $97.1 billion to $103.6 billion during THE March 2020 and May 2021 timeframe.

3. Fitness: In our post pandemic world, Acumen Research expects the home fitness market to reach $14.8 billion by 2027.

4. Digital Events and Conferences: Lawrence Coburn, co-founder of video-chat startup Twine, noted that event planners were seeing four to five times the participation in virtual events over their in-person counterparts.

5. Home Improvement: With the recent shift in property ownership, home improvement sales increased by 12.8% and 24.8% in May and June 2020; respectively, and according to the 2021 Houzz & Home Study, spending on home renovations has increased by 15% in the last year.

6. Freelancer Support: The coronavirus has also accelerated a major shift to freelancing that’s severing ties between companies and employees. Freelance writing is readily one of the easiest online businesses to start in 2022 as a computer and an internet connection are all you need.

If you have expertise or experience in a particular field, you can make a business out of it by writing on that subject. If you don’t have any expertise, one good way to start is by hunting for re-writing gigs on platforms like Fiverr and Upwork.

With the extreme and fast acceleration of globalization, e-business is taking a much stronger role in our global economy; especially in these times of post-Covid19 living. Those seeking to start a new business online must think deeply as to what products and services are most needed these days; and that are not yet victim to a saturated vendor space.