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As more and more small business owners venture into different industries, there is no denying that there are risk factors associated with starting a business. This can vary from the state of the economy to the latest trends in demand for the business to succeed. Nevertheless, there has been an increase in the number of small business owners within the U.S., reaching over 430,000 new businesses per month in 2024, a 50% increase compared to 2019. Kicking off the new year of 2025, various considerations and influences need to be considered for current and future entrepreneurs worldwide.
With marketing being a crucial part of getting noticed in the industry, digital marketing has been the primary method of introducing start-up businesses to the right audience using social media platforms and artificial intelligence. Countries such as Australia and New Zealand have recently been promoting the use of AI for future economic opportunities. This correlates to how countries adapt to the new wave of innovations to create a more efficient world, making it a new way to market businesses. Aside from marketing, businesses are expected to start collaborating this year rather than creating competition. This does not just apply to small businesses, as public companies are beginning to merge or collaborate to build a more prominent foundation and resources to rely on. An example can be seen in DeepGreenX and Hues Capital building a $10 billion fund to further innovate their AI, green energy, and computing power.
As entrepreneurs are beginning to find a new mindset to jumpstart their journey, the change is often reflected in owners from different countries. However, some places are also starting to get involved in the risks that could be many owners’ worst nightmare. Japan has been a significant source of famous pubs and restaurants as it moves to the U.S. to grow its business further. The economy was not the best for the country in 2024, as bankruptcies have hit an all-time high in the last 11 years. This has led to over 203 local restaurants and pubs closing down their stores across the country, likely due to the rising cost of various products and services over the past few years and the labor shortages. But through these hardships, could there be an alternative solution to maintaining the business with rapid decision-making and gathering support from other companies?
In Kazakhstan, financial companies are starting to fund and give loans to small businesses that need support to keep operations running. An example is how KMF LLC has developed a $15 million loan agreement with the Asian Development Bank to distribute a certain amount of loans to eligible small businesses struggling economically when they apply. Another case is the International Finance Corporation’s investment of $50 million in KMF for further business assistance, as the IFC hopes to help women entrepreneurs and rural agribusinesses in Kazakhstan.
With the right resources, small businesses can succeed, and entrepreneurs can give the best of their goods and services to the right customers in their respective industries. Through the various struggles in creating and maintaining the business comes the light for entrepreneurs to support and solve future problems. We will have to see what 2025 has to offer for businesses all over the world.
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