Another one of my favorite reports has just been released: The third installment of the Intuit Future of Small Business Report™, which looks ahead 10 years and examines the prospects, influences and profiles of small business. The report is sponsored by Intuit Inc. and authored by the Institute for the Future.
Check this out:
The Next Wave of Globalization Will be Driven by Small Business
The number of U.S. small businesses trading globally will substantially increase, fueled by cross-border business opportunities, technological advances leading to broader social networks, and reductions in export costs. More specifically:
• Almost half of U.S. small businesses will be involved in global trade by 2018. As the costs associated with doing business globally continue to decrease, small businesses will make no distinction between domestic and international commerce.
• Social networks will fuel borderless commerce. Online and offline social networks will help remove soft trade barriers, such as language and cultural differences. These networks will introduce small businesses to new markets and facilitate cross-border trade.
• Globalization will increase small business diversity and amplify its economic value. Small business diversity will help increase market growth in the U.S. and abroad and will unlock new opportunities for all small business owners.
Clearly, borderless business is going to become BIG.
Special kudos to the main authors of the report: Steve King, Anthony Townsend, and Carolyn Ockels who also, in addition to writing the Intuit report, publish a nifty blog at Small Business Labs.
For a shortcut to the report, visit here and look for Phase Three: The New Entrepreneurial Economy.
Note: We contributed a tad to the report.