Entrepreneurship Forecast For 2022: Stats, Trends And Analysis

Entrepreneurship Forecast For 2022: Stats, Trends And Analysis

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1. Businesses Are Getting Smaller

The number of small businesses without any employees is on the rise in America. In 2020, the number of sole proprietorships rose whereas those with employees fell by 2.4%.  It’s likely that we’ll see this trend continue in the future as more businesses are seeking the services of independent contractors as opposed to hired employees.

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2. The Best States For Entrepreneurship

With the decline of brick-and-mortar retail businesses, the importance of where you establish your business has also declined.  Since many of us sell products or services digitally, there’s no longer a need for many business owners to establish themselves in a major metropolitan area. This also means that entrepreneurs are 

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2. The Best States For Entrepreneurship

free to set up where they please and to incorporate in states that otherwise may have been inaccessible in years past.

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3. Entrepreneurial Optimism Is (Surprisingly) High

There’s a growing sense of optimism among the American public when it comes to opening a business today.   The latest data from the National Federation of Independent Businesses (NFIB) indicates that the Small Business Optimism Index (SMOI) was at 99.7 as of July 2021, which is higher than it was in 2016.

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3. Entrepreneurial Optimism Is (Surprisingly) High

However, the SMOI did see a small downturn from last year due to an inability for many business owners to fill positions within their company. Labor shortage constraints, supply chain issues and inflation remain important points of concern for many entrepreneurs and, frankly, I don’t see this issue finding a remedy in the year ahead.

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4. Fintech Banking And Decentralization On The Rise

Alternative finance, fintech and decentralized banking are, in my view, slated for serious growth in 2022. Between 2008 and 2020, an astounding 13,000 bank branches permanently closed their doors, with the vast majority being located in rural areas. Consequently, more rural Americans are unbanked today than in years past. While this is 

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4. Fintech Banking And Decentralization On The Rise

a systemic issue, it presents an opportunity for entrepreneurs. Fintech solutions that provide critical banking services to rural and unbanked Americans are slated to be a huge growth sector for the foreseeable future.

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5. Less Hierarchy, More Agility

I’ve seen more and more businesses flatten their organizational structure to be less hierarchical and less rigid.  Strict command structures in businesses tend not to lend themselves well to flexibility or fast response times. Instead, keeping roles “open” to new responsibilities and being able to delegate freely keeps every team member available to pivot 

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5. Less Hierarchy, More Agility

to other projects if need be. In 2022, I expect we’re going to see more businesses follow suit by relaxing traditional roles and allowing employees to assume more responsibility and leadership.

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6. Flexible Coworking On The Rise

There’s no doubt that the work from home (WFH) model has proven successful and sustainable. However, the transition to WFH has led to large vacancies in coworking spaces that were once quite expensive for business owners.  I expect to see more and more entrepreneurs capitalize on discounted coworking spaces 

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6. Flexible Coworking On The Rise

and offices and invite employees to join in on an optional or flexible basis.

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