Last year we wrote a blog predicting 2010’s top trends for small businesses and entrepreneurs. I think we did pretty well. No one could argue that getting paid and finding funding was top of everyone’s list in 2010. It was also the year that Social Enterprise was high on the agenda as quite what the new Government meant by “The Big Society” became clear. We’ve looked into VentureNavigator’s crystal ball and have come up with these predictions for 2011. Check back in 12 months to see how we did!

Social shopping

Social networking has morphed into social shopping.  Already popular in the US , pundits predict it will hit the UK big time in 2011.

Consumer behaviour is increasingly being influenced by following brands or products on social networks, ‘liking’ content, and recommending purchases to friends. So the challenge now for online retailers is to take their online PR strategy to the next level by creating engaging content which customers will want to share.

A good example is US site Swipely.com which “turns purchases into conversations” by showing other users what you’re buying and where, every time you swipe your credit or debit card. Users give and get personal recommendations for products and places, and save money, whilst businesses can reach out directly to consumers and reward loyal customers.

China in your hand?

You may be sitting on a potential export gold mine if your product or service can be tailored for the world’s emerging markets. Despite the recession, 2010 was a record year for UK exports to China as consumer buying power shifted towards countries such as China, India and Brazil.

Surprisingly,‘Western’ brands and products are still favoured over local ones, especially those quality  products or services which  meet affluent Chinese consumers’ practical and cultural wants and desires. For instance Levis’ have targeted their dENIZEN Jeans brand towards Asian/Chinese consumers with slimmer fits. Find some tips on digital marketing to Chinese consumers here

 Owner-less

This could be the year when sharing and renting really tips into mainstream consumer consciousness. Fractional ownership and leasing lifestyle businesses offer customers perpetual upgrades to the latest and greatest, and access to usually unobtainable luxuries such as designer handbags.

Sharing and renting expensive, infrequently used items makes monetary and environmental sense, especially in dense urban environments where space is at a premium.  From startups such as http://www.whipcar.com/ which encourages consumers to put their own vehicle up for rental, to regularly hiring smaller luxury items on www.lovefilm.com for example, this is a huge new area for growth.

Sustainability sells

2010 saw a turn around by some leading brands actively promoting their sustainability and eco-superiority as key selling points.  Ariel’s highly profitable ‘Turn to 30′ campaign  told people about how one tiny change to their weekly washing routine, could save them money, feel informed, and it gave them the warm glow of getting something right.

Sainsbury’s ‘Love your leftovers’   waste-cutting initiative gave shoppers a Tupperware box and recipe card with ideas on how to serve up food that they might otherwise have thrown away.

2011 will see further emphasis on superior quality and design, increased durability and/or lower running costs of products in ways that will appeal to even the most eco-sceptic, financially-challenged consumer.

Do you think we have missed something here? Let us know via the comment box.

Due to the disruption caused by the recent weather the John Logie Baird Awards have decided to extend the closing date for entries until the 10th January.

Do something positive to start your New Year and complete your application (via VentureNavigator) by the 10th January to be in with a chance of winning. APPLY NOW!

The Government has confirmed that regional Business Link support will end by April 2012

This news was out back in June but was confirmed in the Local Growth White Paper published last week. In the paper the government said the £154m annual cost of running the support scheme for small businesses in England was too high, overly generalist and was the poorly targeted.  The White Paper said a “greater prioritisation of government support is required, focusing only on those areas where it can really add value”. 

From April 2012, businesses will access advice through an improved www.businesslink.gov.uk website backed up by a new national call centre. This is very close to the structure suggested by the Richard Report (2008) commissioned by the Conservative Party in opposition.  

The Business Link regional service is currently funded by the Regional Development Agencies which, it has already been announced, are also to be scrapped. They are to be replaced by new the Local Enterprise Partnerships between local authorities and business groups.  The white paper suggests that these will deliver more localised business support focussed on specific needs.

Do yo have an opinion on the loss of regional Business Links? Is this bad news for businesses or a shrewd move for greater efficiency? Let us know via the comments box!