The business trends you get to see in the year 2017

​We all have entered into 2017, saying goodbye 2016 and now its time to know the business trends that will dominate in 2017. I will not say or discuss anything unexpected 

​but will write about those business trends which were already present in 2016 that gained momentum due to their benefits attached and are expected to dominate in 2017. The ways of doing businesses keep on changing from time to time and if you want to give your businesses a cutting edge then you need to adopt the changes into your processes. The growing trends in the businesses can help you in formulating an effective strategy in competing with big players in your industry and help in creating a growth space for your start-up.
The main business trends of 2017 are as follows:

(1) The increase in adoption of the digital technology

This year will witness more and more businesses, irrespective of their sizes, striving towards making their processes digital. The businesses will focus on seamless integration of the technology with their products and the extent of the integration or the penetration will depend on the product to product.
The integration of the technology with the product offers the following benefits to the businesses:

• Wider reach of the business
• Business growth and increased sales
• Smooth business operations
• Overall better customer experience
• Reduction in the fixed cost and higher initial margins

(2) More start-ups taking leverage of funding

Those companies or the start-up who adopt digital technology in their business processes have the higher benefit to cost ratio, the probability of better initial profit margins and therefore are a good choice for the investors.

• Read: "Effective strategies to attract investors for your start-up"

We shall see more start-up taking leverage of funding to expand their businesses and widening their global reach. Moreover, the digital technology, through online investor-investee platforms, has brought the world’s investors and the investee on to one place facilitated the process. The start-ups will also utilize the power of digital technology to raise capital for their projects through crowd funding.
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(3) The growth of renewable energy especially solar in India

India will witness the growth of the solar entrepreneurs with the following obvious reasons:

• Declining cost of the solar
• Durability and the longer lives of the panels
• Less maintenance cost and less space required as compared to wind power
• The abilility of the system to get installed on the individual houses
• Increasing cost of the electricity tariffs
• The erratic and non-availability of grid electricity in many places
• Good sun hours in India
• Favourable government policies
• Increasing awareness among people about the technology through various sources and ease of the technology

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Conclusion

​The coming years will favor those start-up who look to seamlessly integrate the digital technology into their processes for the overall growth of their businesses. The level of growth is decided by the extent of penetration of the technology as optimally required by that industry. And these businesses will obviously have the cutting edge over the other businesses to attract the funding from the investor worldwide and leverage it for their growth.

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