6 Small Business Trends to Watch in 2022

With a whopping 31.7 million in the U.S. (up 1 million from the previous year), small businesses make up 99.9% of companies nationwide. CCCU offers services and accounts for all types of organizations to support the local economy and help our community thrive.

As we head into the new year, our Portland-based credit union is excited to see what future business trends are next for startups and mid-market companies.

Keep an eye out for these 6 small business trends in 2022

So, what can you expect from small businesses in 2022? If we learned anything from the pandemic, it's that industry shifts and economic patterns aren't always predictable.

Having said that, there's a good chance small businesses will embrace remote work, outsourcing traditionally salaried positions, mobile commerce, enhanced checkout options, eco-conscious operations, and personalized content marketing. Read on for details.

1. Remote work

While telecommuting jobs and flex schedules were on the rise before the pandemic, remote work has skyrocketed in the past two years. Of course, not all small businesses can accommodate this option, but in the digital era, it's never been more feasible. Plus, many employers find it's easier to attract, hire, and maintain employees with remote job offerings.

2. Outsource 9-to-5 positions

On a similar note, a majority of employers report that it's been hard to find and retain salaried workers over the past year. As such, many small businesses are opting to outsource a portion of their full-time positions to freelancers and contractors. This includes HR managers, marketing teams, IT managers, customer service reps, and accounts payable—to name a few.

3. Mobile commerce

Most of today's commerce is ecommerce, and more than half of transactions are made on mobile devices. All signs point to mobile commerce (aka m-commerce) being at the forefront for merchandising in 2022.
Since shopping on a smartphone or tablet is still generally not as convenient as browsing on a desktop, small businesses that embrace the trend and optimize their mobile sites will have a competitive advantage.

4. More ways to pay

Speaking of making it more convenient for consumers to buy products and services, small businesses are now offering more ways to pay. This includes everything from Apple Pay, PayPal, and Google Pay to cryptocurrencies and buy-now-pay-later options like Klarna.

5. Eco-conscious operations

With about 60% of Americans saying the future of the environment is extremely important (up from 49% in 2018), more and more companies are embracing eco-conscious business practices.

That said, there's no one-size-fits-all approach to running an environmentally friendly business. Some are pledging to be carbon-neutral within the next five years, while others are vowing to eliminate plastic waste.

Many businesses are rethinking their supply chain, partnering with other eco-conscious organizations, building green workspaces, creating recycling programs, and offering public transportation incentives for employees. While it can take some time for established businesses to transition to eco-friendly operations, many new startups are sustainable from the day they launch.

6. Personalized content marketing

Personalization is an immensely effective modern marketing strategy. The trend builds on the fact that today's consumers want and expect their experiences with brands to be meaningful and engaging.
In fact, over 90% of shoppers say they're more likely to buy from companies that present personalized offerings. Personalized content marketing can include on-page recommendations, shopping cart reminders, retargeting social ads, location-based suggestions, and landing pages that are unique to the shopper.

Business accounts and services from your local community credit union

The nearly 400,000 small businesses in Oregon make up 99.4% of companies state-wide. At CCCU, we're committed to supporting companies throughout the Portland metro area and the surrounding counties.

Our Oregon community credit union offers checking and savings accounts with online access and mobile banking, along with flexible commercial real estate loans and corporate Visa credit cards. With three branches in Portland proper and one in Hood River, plus nationwide ATM access, CCCU makes it easy for businesses to deposit money and manage their finances.

Join today or get in touch with us to learn more about what we offer.