Top 7 upcoming trends for female entrepreneurs in 2022
Today, women are increasingly entering the entreprenuial world. Although the number of female entrepreneurs hasn’t yet matched up to the number of males, as entrepreneurship is still a male-dominated area, we cannot deny the fact that women have certainly been trailblazers in the ever-evolving entrepreneurial world.
Speaking of evolution, every entrepreneur is aware of the fact that trends are constantly evolving and almost never remain the same, especially with technology and preferences transforming rapidly. A trend that has taken people by storm today may simply fizzle out in a few months or even days.
For this reason, it’s crucial for entrepreneurs, especially female entrepreneurs who are looking to establish themselves, to remain flexible and adapt to the situation as required.
That said, as 2021 draws to an end, let’s take a look at some upcoming trends for entrepreneurs in 2022.
Globalised business through remote work
It is well known by now that remote working has become the norm. Despite some organisations reopening their premises for employees to return to work, they have largely adopted the hybrid model of working. Remote work has transcended geographical barriers, spawned digital nomadism, making way for globalism.
Entrepreneurs need to recognise and tap into this opportunity to scale and expand their business footprint in new markets. For female entrepreneurs, it provides the perfect opportunity to establish themselves in the business space as a leader, and with the right strategies, they can reach greater heights.
The technology wave
While technology integration in business has been picking up steam in recent years, the pandemic has accelerated technology adoption immensely.
The phrase ‘Necessity is the mother of invention’ is true, and the pandemic has proven it. The onset of the crisis and the world’s workforce suddenly being thrust into a mass remote working experiment led to numerous technological innovations.
Since the pandemic is yet to pass, entrepreneurs should be prepared for the technology trend as it’s likely to be a long-lasting one.
Omnichannel is the way to go
Regardless of the sector that a business is in, reaching out to customers/clients and the content used for that is crucial and can make or break the business. Today, with increasing internet proliferation and smartphone usage, people spend a large chunk of their time browsing or working on their phones and engaging with media and content.
For this, it’s essential to have a known presence on multiple platforms and widen reach. Entrepreneurs need to adopt the omnichannel approach where interaction and engagement are made easier as the coming months/years will be all about businesses that can reach out to their clients/customers.
Data and automation
According to Forbes, automation and Big Data will be the most crucial business trend in the coming years. The large-scale shift towards technology integration has made processes more efficient, limiting redundancy in a job and minimising the chances for human errors.
For instance, let’s take the legal space. A few years earlier, nearly every record was stored physically, and every process was conducted manually. While this slowly began to change as technology took a stronghold of the world, the pandemic has fast-tracked this to a large extent.
Today, virtual court proceedings are being conducted seamlessly, client meetings are done virtually, and almost all files are stored digitally, making the entire legal process more cost-efficient.
As the new year arrives, we will witness a surge in automation and digitisation.
Technologies such as Augmented Reality, Virtual Reality, and Mixed Reality will take center stage, and entrepreneurs will need to be equipped to quickly adapt to rapid technological advancements and switch to virtual interfaces almost entirely.
The rise of startups and female entrepreneurs
While 2020 caused disruptions, several startups innovated and adapted to the volatile scenario, achieving business growth and thriving in the market. With startups raising a large amount of funding, several of them entering the unicorn club, and new startups emerging in the ecosystem, 2021 became the year of the startups, and 2022 is likely to be the same.
The startup ecosystem is growing at a breakneck pace, and the coming months are sure to witness the emergence of innovative, high-potential startups across verticals.
Similarly, female entrepreneurship will also continue to rise. Amidst the lockdowns and the pandemic, several women forayed into entrepreneurship, building empires of their own. As 2022 arrives, the year is likely to see more and more women turning entrepreneurs and leading the business from the front.
An increase in freelancing and gig working
Freelancing and gig working have gained immense traction since the onset of the pandemic as more and more people look for flexibility with their jobs. This surge in freelancing and gig working can especially be beneficial to female entrepreneurs who own small businesses and don’t have sufficient funding to hire full-time employees for the long run.
Hiring a freelancer ensures the job is done at a reduced cost since they are paid only when the business avails their services.
Increased funding and networking opportunities
As mentioned earlier, the pandemic and remote working have gone beyond geographical barriers. This has opened up several new opportunities, especially for women entrepreneurs, who have previously faced challenges in receiving funding and networking, to interact and raise funds for their business. Investors are now no longer restricted to the borders of the country.
Today, angel investors and VCs from across the globe are keen on investing in women-led startups that display high growth potential. As 2022 progresses, funding and networking opportunities for female entrepreneurs will further increase, enabling them to scale their businesses faster.
Female entrepreneurship is steadily increasing, and while the pandemic has caused major disruptions, it has also created numerous opportunities for women-led businesses to grow. All in all, 2022 is likely to be the year where female entrepreneurship will thrive.
Edited by Affirunisa Kankudti
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)