One of the many ways the SBDC helps small business survive and thrive for the long run is to assist them in anticipating potential changes in their business climates. New technologies and trends take hold and evolve faster than ever before. They affect consumer behavior which in turn affects business.
This transformational technologies era is evident in the growth of the shared economy, experience based services, retail apocalypse and the increased roll out of autonomous and connected vehicles technologies.
The ripples of change are felt all the way to main street small businesses in every community. As we look ahead, it is easy to envision a local auto body shop transforming its focus, and medical and home assistance services being increasingly delivered via video conference.
The Michigan SBDC is raising awareness of small business of how potential change may - or may not - impact them a decade down the road. The goal is to engage small business now in the thought process of the shifting business opportunities that may come, ultimately ensuring a more stable and optimal business transition.
This initiative was launched in 2017 ahead of the change, and allows us to provide calm, long term awareness raising to small businesses that have the desire to peer ahead.
The Michigan SBDC is proud to couple its core no-cost services of business planning, financial forecasts, market research, and strategy with this relevant look ahead to continue to pave the way for a vibrant small business fueled economy for the long term.