Last week Intuit released the Intuit 2020 Report, (PDF), which provides a vision of the world in 2020, identifying the key demographic, social, economic, and technology shifts shaping the next decade. The report, authored by Emergent Research in partnership with Intuit, delves into the trends that are going to change the way small businesses, and their customers, live and operate over the next 10 years.
The report covers 20 key demographic, social, economic and technology trends.
Much of the work behind this report was done as part of Intuit’s annual planning process. This included creating a 10 year vision for Intuit and its business units. The trends contained in the report were used as inputs to the visioning process. Emergent Research (that’s us) partnered with Intuit on this project and report.
Intuit is releasing this report so their customers, partners and others can use this information to inform their strategic thinking and business planning.
What does the next decade hold for small businesses?
In a word: Opportunity. For example:
- The cost of starting and running a small business will decline as smaller, lighter and smarter systems, components and manufacturing methods emerge.
- We will see a more interconnected global marketplace where small businesses will find new opportunities in specialized product and service niches that satisfy increasingly customized demands from their customers.
- The playing field between large and small businesses will be more level and often more collaborative as they both rely on each other’s capabilities to compete more effectively.
- In the next decade the face of small business will continue to change dramatically. We saw the first hints of this in the 2007 Intuit Future of Small Business Report, and now we have even deeper insights from the latest IFOSBR