E-Revolution heralds seismic shift in business landscape
The next 10 years will herald a ‘seismic shift’ in the business landscape in this country, the likes of which has not been seen since the Industrial Revolution, according a new report looking at the future of UK firms.
The 2020Vision report by Bibby Financial Services foresees that wireless use of the web, giving businesses the ability to be truly mobile, will facilitate an upturn in the number of small and medium-sized businesses in the UK by 20% come 2020. It suggests that the impact the Industrial Revolution of the 18th and 19th centuries had on daily life is set to be felt again 250 years later due to a ‘jump point’ in the internet to 3bn users worldwide. This will herald a marked step in history as the rise in use of smart phones, tablets, online networking and social media changes the business landscape in the UK forever.
Researched and compiled by business behavioral intelligence experts Index B, the ‘2020 Vision - the Future of Business’ report focuses on the future of business over the next decade. Among its key findings, it predicts a surge in the number of micro-businesses, often operating outside of traditional business hours and premises.
The report also looks at the rise of ‘semi-detached’ businesses – individuals and firms who will share expertise and develop their own professional networks to take advantage of open market opportunities. It is predicted that such businesses, which will build ‘enterprise hubs’ rather than be centred in cities or towns, will quickly overtake traditional firms. The report also foresees the blurred line between home and work, such as the conjoining of business and personal bank accounts and the lack of physical business premises, making companies themselves harder to identify. This will mean a change in how businesses behave, as well as how suppliers and customers communicate with each other.