Emerging Trends in Entrepreneurship

Entrepreneurship is becoming a preferred career path by many people. Over the years, the market and technology has seen a lot of changes. In the past 2 years of the pandemic, Indian economy and consumer demands have taken a great spin. With new challenges there will be advanced solutions and emerging trends that will impact entrepreneurship greatly.

You have to remember that these are times when being an entrepreneur with advanced solutions/innovations can benefit the consumers, fulfill their needs and turn it into a business opportunity. It’s important to look forward and learn the new ways of competing in the market.

To acquire such knowledge, business skills and understanding of the market, you need expertise and guidance. Many universities today offer degree courses in entrepreneurship like MBA in Entrepreneurship by Rishihood University. Most of these courses include a study of latest industry trends or a discussion about new updates in the market. It’s meant to train you and help you pave a path of success for yourself.

If you’re interested in pursuing a career in entrepreneurship or studying the course, here’s a peek into the trends that you might discover in the coming months.

  1. Going Digital

If there’s one thing everyone has learnt from the pandemic, it’s working digitally, having meetings online and keeping all the processes digitised. In the coming months, you’ll see that digitisation and automation is going to become an essential part of business operations.

So, everyone who is planning to be an entrepreneur with their business idea or through their creative skills should be ready to sell on digital platforms and pertaining to websites.

  1. Social Commerce

Most business owners have heard of e-commerce, which is a shopping experience through a website or an app. So what’s social commerce? It’s about a shopping and purchase experience within the social platforms, such as Instagram, Pinterest or FB.

Remember not to confuse this process with “social selling”. With social selling, you can’t purchase on the platform itself, you look at a post created by the brand and if you’re interested you visit their website or app. Social commerce completely removes this barrier and also provides a social shopping experience.

This is something that will be seen trending soon and many businesses will be selling on the platform itself.

  1. A University Degree

Many people used to believe that entrepreneurship is a very dynamic course and cannot be taught theoretically in one space. So what changed? With time, experts have realised the importance of this career path and course. This realisation is already seeing an impact among many universities and there will be more in the future.

By conducting speaker sessions, panel discussions, conferences and offering research journals, colleges are providing a good curriculum to the students.

There are many other trends like startup accelerator programs that help potential companies/startups with funding in exchange for equity. Venture funding is another trending example, which is being provided by Rishihood University to certain students. Also, look out for customer demand products/services or which is also known as “niche markets”. These are distinct products/services gaining traction like veganism.

Keep exploring and learning new trends to be a successful entrepreneur.

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