1) Amazon Will Continue To Grow
Amazon’s stock price has tripled over the past two years and we anticipate that this growth will only continue.
As more people turn to online shopping for sales and day to day groceries – Amazon’s ability to provide all things for all people will put it on a pedestal that only few will get anywhere near close to touching.
They have revolutionised the sales platform through their lightning deals, which are becoming more engrained into the way people consume ‘sale dates’.
The icing on the cake is their Amazon prime subscription service, that offers a wealth of services: video, music, photo, delivery – which all show no intention of suffering a decrease in demand.
2) Cryptocurrency Will Demand Attention
Bitcoin has dominated the news for the past month after reaching highs and breaking it’s own personal records like never before.
Experts are divided about the direction Bitcoin is heading as opinions differ – it’s unchartered waters for many.
Bitcoin will experience highs and lows across 2018, but it’s volatility will only attract attention. It has a divisive persona that will attract supporters and detractors, which is the perfect breeding ground for newsworthy stories that will get in front of people who haven’t yet made up their minds.
Cryptocurrency in local areas such as the Liverpool Local Pound will continue being used by more small businesses, showing the impact on smaller economies, which will only generate an increased interest in 2018 by the general public.
3) Conservatives Will Be At Breaking Point
As the Conservatives get deep within Brexit negotiations – the media will pounce.
People who don’t want Brexit won’t be happy with the way things are being dealt with.
Those who are avid supporters of Brexit won’t be happy with every aspect of the negotiations.
Which means only a niche audience will be satisfied will how things are progressing.
The Labour party will be using every opportunity it gets to point out the failings and how they can provide the solution. It could be Teresa May’s final year in charge of the Conservative government.
4) EU Will Undergo More Attacks From Within
As Brexit negotiations are thrashed out, other countries will be taking the opportunity to try and change or reform policies to better suit themselves.
A turbulent period of change will allow an open door to question how the EU is run, with some countries deciding to leave altogether as they see, more clearly, what the future looks like for the UK .
5) GDPR Will Hit Businesses That Haven’t Prepared
Data protection will hit and cripple many businesses, as they fail to make the information they have on their clients (and prospective buyers) transparent enough to meet regulations.
The GDPR regulations will begin in April and with many small businesses still unsure of the steps that they need to take to become compliant, advice and expertise will be a hot commodity throughout the year that businesses will fork out on.
6) Tesla Will Revolutionise The World’s Thinking
Tesla will begin to revolutionise the way the whole world thinks about the motor industry and electrical, autonomous vehicles.
With minimal competition, fans of Elon Musk and the Tesla brand will see the company get more mainstream attention as rules regarding the banning of diesel vehicles take another step closer to fruition.
As Tesla branch out to different vehicles types, like their recent escapade being semi trucks, expect to see more of it’s vehicles on the road, more satisfied customers engaging in conversation with their friends – and ultimately, more eyes will be turning.
7) Uber’s Competition Will Step Up
With Uber being exiled from the capital city, other cities will follow suit.
More recently York have stepped up and said no to the way Uber operates as a company in their city and it won’t be long until a competitor approaches things differently and begins to take advantage of their struggles.
Lyft seems to be that company waiting in the wings, but users, and black cabbies, should expect a wave of entrepreneurs vying for the space in which Uber once dominated.
8) Xero Will See An Increase In Users
More small business owners will move to software like Xero to manage their invoicing and financial information.
Xero has experienced a similar trajectory as Amazon, hitting 1 million subscribers in 2017. Over a third of those users signed up within a 12-month timeframe, which indicates more of the same – massive and rapid growth for 2018.
As Making Tax Digital gains momentum in the UK after multiple hurdles, we anticipate 2018 to be a year where more small businesses in the UK seek accountants who solely work with Xero, in the cloud and accessible anytime, anyplace.