Business

What are the entrepreneurship trends for 2022/2023

Entrepreneurship trends for 2022/2023 continue to increase and that is why we leave you a list of the most relevant ones. 

1. Music industry

Music industry is growing every year, since we have tons of audio streaming services which allow artists to share their music and earn money from it. Almost every professional musician prefers Spotify over other services, since it has the highest quality and it also pays artists $0.003-0.005 per stream. So if you love composing songs hurry up and buy Spotify followers for the best price.

2. The economy of gigs (temporary jobs)

This way of working has had an exponential growth whose value in 2021 reached $300 billion. In the USA, this economy is made up of 59 million people, which represents 36% of the US workforce. 

Additionally, it includes the ‘decacorns’, which are companies valued at more than $10 billion and up. In this lot are Airbnb and Uber, whose investors are very committed to the business model. These multinationals aim to provide temporary employment, being an attractive trend that you should not ignore as an entrepreneur. 

One way to do this is by designing a scheme based on these part-time jobs for your business. The biggest advantage is that the collaborators are independent and you do not have to pay benefits, settlements and other common compensation. In addition, these workers use their equipment/implements, which will allow you to save on general costs. 

Of course, there are a number of risks and challenges when you take on this business model. The most crucial thing involves finding the ideal balance between supply and demand, which can take some time. When you use an algorithm like Uber, there is a learning curve if you want to scale. For a small business of your own, project management software is enough. 

3. Subscription-based businesses

According to a recent report, the billing and subscription market will be worth $11.1 billion by 2027. This is due to 2 factors: the increase in subscribers in existing brands and the growth of these models. This category includes entertainment, computing, telecommunications, retail, health and much more. 

The covid19 crisis has also contributed to this trend, showing a growth acceleration of 22.5% in 2020. Currently, it is a model that continues to rise due to its popularity in movies, streaming and food. Many specialists indicate that it will be the business of the future and it must be taken into account when starting a business. 

Also, this is not just limited to digital products/services, as Fender has shown, using it to offer their instruments. 

Both aspiring entrepreneurs and those already established are looking for ways to implement recurring consumption models. If you’re interested in this approach, start implementing automation tools as soon as possible to streamline operations, payments, and finances, leading to cost savings. 

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