Since the advent of COVID-19, the world that existed prior to 2019 has undergone a sea change in terms of individual choices, ways of living, jobs, businesses, recreation and beyond.
Priorities have changed for most people and businesses alike. Some things once deemed indispensable just don’t hold any water at present. Let’s take, for example, the Great Resignation wave that has gripped businesses and workers alike. People have new expectations from employers, and companies are trying to adapt.
One thing is for certain — the age of the entrepreneur is here. Through September 2021, a record 1.4 million people filed for a new business license to launch their own venture. Analysts say the culture of YOLO, or “you only live once,” helps explain why people are making decisions they wouldn’t have considered prior to the pandemic.
Even amid this time of uncertainty, a few key percolating trends are piquing interest from venture capitalists. Here we look at five such trends for 2022.
1. Connecting the virtual and real world
In the last two years, the business world has largely shifted online for connecting with other people. But as large in-person events return, they will likely be accompanied by a smaller virtual component, or vice versa. This fusion of business processes promises flexibility and convenience. Bizzabo, a platform to plan and run virtual and in-person conferences, is an example of a company in this space.
2. Environmental, social and governance initiatives
The year will bring renewed interest in the ESG impact of businesses, analysts say. Not only will ESG missives be monitored by the public, but more employees nowadays seek to align themselves with companies that prioritize sustainability. On the other hand, naysayers caution that ESG has become a trendy buzzword and that a day of reckoning could be ahead.
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3. Blockchain/crypto/no-code technology
Crypto mania shows no signs of slowing down. Now, even U.S. lawmakers and sovereign nations are watching crypto closely. The application of blockchain, which is a database of all crypto transactions, is among the most-discussed disruptive technologies. Blockchain is expected to continue to foster innovation in avenues where authenticity and proof are required, making it even more useful in fields such as banking, high-value transactions, certification, insurance and beyond. The increased accessibility of blockchain combined with no-code technology is set to give traditional businesses a run for their money in the race to be lean and efficient.
4. Real estate
Real estate is poised for huge growth in 2022 as the technology-averse sector begins to embrace tech. Industry experts believe that tech-forward, innovative real estate companies are positioned to thrive in coming years, with the ones that shun change projected to fall behind.
5. Reverse globalization
With the advent of the pandemic and subsequent supply chain bottlenecks, one thing is undeniable: the need for self-sufficiency has soared. Finishing a product and putting it out in the market on time has taken on a new urgency for businesses. This has led many companies to advocate that supporting firms and vendors move closer to them; in other words, they are calling for a localization of supply chains in 2022.
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