Business is going digital faster than ever before.
This may scare some of you. But don’t let. With digital comes so many growth opportunities. As we have seen over the last few years, digital technologies and communication platforms are increasingly dominating the way we conduct our business. Expect this to ramp up another notch in 2020.
You can expect:
- Consumers to shift more of their research and purchasing behaviours online
- 5G to enable more productivity gains
- More weight being placed on your company’s digital presence, than its physical presence
- An increasing need for meaningful, engaging content to build loyalty and margin
- LinkedIn to transform into an acquisition tool and business capability tool
- Greater access to global skills, cost-effective business solutions and world-class expertise
Deliciously low interest rates
Now, and into 2020, is a great time to borrow money. With interest rates so low, it’s far smarter to invest in marketing opportunities, than leave cash in the bank, if you can work out an ROI of more than 2%.
It’s also worthwhile reviewing your existing debt and looking at restructuring if you have high-interest debt, such as an overdraft, or a business credit card. Even a 1% drop in interest rates could potentially save you thousands across the term of your loan. That’s thousands more than you had previously to spend on marketing, outsourcing or innovation.
No matter what your industry, I guarantee you have margin to gain.
The skills shortage will force you to innovate
Going into 2020, New Zealand still faces the reality of a local skills gap. And while the Government has taken some steps to mitigate this, it’ll likely be a while before we feel the effects. But the reality is, this needn’t be a problem in 2020. Oh contraire, it’s a major opportunity to boost ROI, reduce risk and test out specialist talent in the most cost-effective way possible: Outsourcing.
Our increasing digital economy means we don’t all need to be sitting in the same office to be on the same team. Our partner, Kinetic, can offer all New Zealand businesses access to a wealth of specialist talent from around the world. From admin staff to finance experts and web developers, Kinetic has the highly skilled professional you need to bridge your talent gaps.
Likewise, we at Grow NZ Business have developed a network of skilled interns to complete our team. In the spirit of the Grow brand, we made a decision last year to support and nurture future business leaders in a way that supports our own business requirements. Our partnership with Auckland University’s Business School means we now have access to inspired and skilled talent looking for opportunities to put their knowledge into practice. Please feel free to contact me if you’d like to hear more about our intern programme.