3 Small Business Trends to Watch in 2015

2014 was an exciting year. Small business has been an important part of economic growth and job creation and has helped develop and improve on business tools that impact every business large and small. The coming year looks to be even more exciting. Here are three trends to watch for in 2015 that will have a big impact on how we do business:

1. Small business will access more ‘big data’
Big data, or large sets of information that can be used to analyze patterns, trends, and more, have proven very effective to help small business owners understand their customers and how to better serve them. According to Rebecca Bradley, writing for Forbes, big data will likely become more commonplace in 2015. New tools will make it easier to comb through data, and the cost will only go down—making it a more viable option for smaller firms.

2. The ‘Internet of Things’ will continue to grow
The ‘Internet of Things’ is the prominence of Internet-connected devices in business. For example, smart thermostats, smoke detectors, and other connected devices. This connectivity is an ideal way to save money and improve efficiency. And, technology has made tools more accessible and viable for small businesses.

3. Small businesses will improve sales with social media
Social media is already a good marketing tool, but according to Tasha Cunningham, writing for the Miami Herald, it is going to get easier for customers to make purchases using social media in 2015. For example, customers will soon see features appear that allow them to buy products and services. These ‘buy’ buttons are expected to be used for Facebook and Twitter to start, but could expand to other sites as well.

2014 is ending strong. In fact the economy has now surpassed where it was before 2008. For many business owners, it feels like we’re going into the New Year with some momentum. What are some of the small business trends you expect to see in 2015?