Entrepreneurs are on the look-out for new opportunities every day. It is paramount for any business that wants to remain in the market, characterized by new trends as some trends get obsolete. It is not an easy task for entrepreneurs to identify these opportunities. Some of the opportunities that are in the market now include social media & internet power, angel investors, quality content creations, and start-up incubators. Social media platforms have allowed many entrepreneurs to showcase their products and services to millions of social media users (Gibreel et al., 2018). These platforms include Facebook, Youtube, and Twitter. Angel investors have played an important financial role in supporting businesses in exchange for ownership equity in the business. They help the ideas by the entrepreneurs to crystallize and be actualized. Start-up incubators give young entrepreneurs support and guidance as they search for investment and tackle the market. Incubators should be on par with the current market trends.
The emerging markets are social media platforms and the global market. The world has become a global village where we are all global citizens (Gibreel et al., 2018). Governments facilitate and encourage investors to export more to earn their countries’ foreign exchange (Kasemsap &Kijpokin, 2018). Investors should harness these markets to increase their products’ sales and quality to compete with other products in the market. Social media platforms have made it possible for potential customers to know the availability of a product. Through this, they can order the product, and it can be delivered to the client without them making a trip to the business’s physical residence.
There have been notable trends in the business world. More transactions are not being done through mobile money transfers rather than cash. There are major advancements in Artificial Intelligence (AI) (Kasemsap &Kijpokin, 2018). Companies are using AI to perform tasks instead of a human. Many entrepreneurs are now hiring employees based on their emotional intelligence. New businesses should harness these trends to increase output and efficiency. Resources that are available for new businesses are financial resources, human resources, and also physical resources. Many institutions are offering finances for start-ups in the form of loans and grants. Human labor is available owing to the high number of qualified job seekers. The premises were to put up the business are many. There has been an upsurge in the number of rental business houses.
With the progress made in technology, some business ideas have become extinct. Such is the camera film manufacturing. People nowadays use their phones to record pictures. Newspapers are on the verge of becoming extinct (Kasemsap &Kijpokin, 2018). If every person can use a phone to access information, the need for a newspaper will diminish. Telemarketing has also slowly become extinct due to regulations prohibiting calling clients.
To harness the technological advancements, I have the following business ideas. To start an online platform as an expert in contemporary political and economic issues and to amass a substantial following, then I start looking for adverts and brand ambassadorial jobs. Also, I can become an online dating consultant and facilitator.
Work cited
Gibreel, Omer, Dhari A. AlOtaibi, and Jörn Altmann. “Social commerce development in emerging markets.” Electronic Commerce Research and Applications 27 (2018): 152-162. https://www.sciencedirect.com/science/article/pii/S1567422317301011
Kasemsap, Kijpokin. “Mastering business process management and business intelligence in global business.” Global Business Expansion: Concepts, Methodologies, Tools, and Applications. IGI Global, 2018. 76-96. https://www.igi-global.com/chapter/mastering-business-process-management-and-business-intelligence-in-global-business/202214