With the year of 2023 well under way, the new year often brings new ideas and enthusiasm for startup founders and business owners – and with over 225,000 startup businesses in the US alone, now could be your time to kickstart your new business venture. We are excited to give you the startup trends for 2023.
Many new businesses have had to quickly alter their business model to keep up with changes and follow areas of growth. From hybrid working to global business and the continued focus on wellness and work life balance, here are our top trends below from our experts to keep your eye on.
Hybrid Working
During the covid lockdown during 2020, the use of remote working skyrocketed and everyone had to shift from working in the office to working from home.
However, fast forward to 2023, the offices are back in swing and the risk of contracting covid has reduced significantly.
It emerges that a large portion of workers do not want to go back to the office full time but have rather enjoyed a hybrid model where they can work from home for a few days per week and this is resulting in a better quality of work life balance and also huge savings for organizations.
Not only can savings for business owners be made in downsizing office space, it is noted in many cases that the productivity of workers can increase when the distraction of being in the office is removed. Being adaptable as a new business owner for these new ways of working is crucial to your startup’s success.
Tech Sector Impact: Expect to see new tech solutions being launched to manage hybrid workers.
Global Business
It is no secret that the internet has totally changed the way we work, and has resulted in a total global reach for new businesses. With the realization that people can work from anywhere in the world, this has shifted the requirement to work at a fixed office or even in the same time zone as your colleagues.
The growth of digital nomad workers has resulted from the ability to be well connected via fully online businesses. Startup owners are realizing the need to cater to this lifestyle and a range of new businesses and services have emerged to meet the need for remote working tools.
Ensuring your business has a wide reach through the hiring of a worldwide workforce could be extremely beneficial.
Tech Sector Impact: Expect to see more tech companies adopting global working practices to benefit from cheaper overseas talent
Wellness
The wellness industry continues to grow and grow as people become more invested in their wellbeing. New business owners are catching on to this need for services in wellness and there can be great benefits to putting resources into this area.
As you launch your business, be mindful of the factors of stress your teams can experience and be empathetic to the different ways people are emerging back into work post-pandemic. Look to encourage ways for your team to share any difficulties they are experiencing before they become problems.
Retaining a happy and healthy workforce can save you money in the long run in reducing the cost of recruitment and training.
Tech Sector Impact: Expect to see more start ups offering remote wellness apps.
Work-Life Balance
Work-Life balance is a concept that means people can find a strong balance between their personal life and their work life. A sense of burnout has arisen, particularly in industries that felt the strain of the pandemic, and through remote working technology it is now easier than ever to feel like you are accessible by your employer.
This phrase has taken on a totally new meaning in today’s society – now more than ever people are making big changes in their life to have greater control of their time away from work. Having more flexible working hours is incredibly desirable for job applicants, however it’s also important for employers to keep track of flexible hours to ensure their employees aren’t working all the time, or alternatively not working enough! The lack of boundaries can create issues and we’d expect to see more solutions being developed to manage this in 2023.
