Keep Up with Small Business Trends for 2024

The U.S. Small Business Administration (SBA) recently outlined five trends small business owners and entrepreneurs should monitor going into the new year. In 2024, there will be many things that can impact businesses, so it is important to keep your pulse on these challenges and opportunities as you plan out your road map for another year.

As an entrepreneur or small business owner, staying on top of the latest trends can be difficult when industries are constantly transforming. It can help to look to major brands to see what’s working for them — just check out these best campaigns of 2023 according to Marketing Week. I think we can all agree that the marketing team behind the Barbie movie helped propel its success. Or who could forget Nike’s “Never Done Evolving” 2022 marketing campaign using artificial intelligence (AI) to create a matchup between Serena Williams in 1999 and Serena Williams in 2017. The company embraced AI, resulting in an increase of 1082% in organic views compared to their other content, leading it to become an award-winning campaign.

SBA Small Business Trends

These are just a few of the most recent examples of successful brands taking advantage of new trends in the tech and marketing spaces. And while there are many ways your own brand can innovate in the coming year, here are the five trends that SBA has outlined for 2024:

• Utilizing AI and its benefits in marketing, operations and more.
• Acquiring soft skills that require human interaction and boosting customer experience.
• Personalizing the customer experience both online and in-person.
• Lowering the carbon footprint of your business — sustainability is critical.
• Protecting customers from cyber threats.

Read the full article at sba.gov.

If you’re interested in finding out more about how to find success as a small business, check The Partnership’s calendar for future small business-centered events throughout the year.

The Greater Des Moines Partnership celebrates the Greater Des Moines (DSM) entrepreneur community and helps small businesses succeed with one-of-a-kind resources and opportunities for networking. Find out how other entrepreneurs have found success by reading their stories and attending local small business events in the region.