Unlock Success in 2024: 8 trends shaping SMBs

Set yourself up for success in 2024 by keeping ahead of these 8 small business trends.

Jonny Parker
January 2, 2024

The small business landscape is constantly evolving due to technological developments, economic shifts, and changing consumer buying patterns. 

With 2023 in the rear view, the businesses that will remain ahead of the curve are those that stay abreast of the latest trends shaping the industry in 2024. 

To help set you up for success, here are eight key trends to remain aware of.

1. Greater efforts to build supply chain resilience

The pandemic had a far-reaching impact on global supply chains, leading to many disruptions. SMBs were particularly badly hit, with 11% facing supply chain issues

In response, they have already taken steps to build more resilient supply chains. In 2024, we will see an increasing number of SMBs doing this by implementing various strategies. 

They will continue to reduce their reliance on a single source by partnering with different suppliers from different regions, gain better visibility into their supply chains by investing more money in technologies like AI and IoT, and maintain optimal inventory levels to meet demand by adopting inventory management software and demand forecasting tools.