Rick Telberg, CEO of Bay Street Group LLC, recently focused on a happier trend that may lie in store: the birth of a massive new wave of "micro-businesses."
Citing a January 2007 report by Intuit and the Institute for the Future, Telberg writes in his CPA Trendlines blog,
If you’re a finance or accounting professional, especially in a small to medium-sized shop, you’re going to like this one. It’s got small businesses popping up by the millions, all of them in need of someone who knows accounting, finance, payroll and other aspects of business management and administration.
The Intuit-IFTF report foresees a new economy increasingly composed of micro-businesses led by a much more diverse bunch of entrepreneurs.
The predicted changes will be led by three groups: baby boomers leaving corporate careers but not retiring; the boomers' very techno-savvy grandchildren, who will be "doing big business on small computers"; and ambitious, outward-looking immigrants.
One of the report's predictions that we found fascinating is that "entrepreneurship" will be taught as a mainstream subject, not only in universities, but down to secondary schools, "and even some elementary schools." College-level teaching of entrepreneurial skills will broaden from high-growth, venture capital-type businesses, to cover small business ownership of all kinds, the report says.
How does this relate to the accounting practitioner? Telberg offers this useful hint:
We’re just going to tell you to look at these upcoming entrepreneurs and their attributes, then think of what they’re going to need and how you can satisfy those needs. And that’s how you, too, will charge into that new economy.
The Next Big Thing: Are You Ready? [CPA Trendlines]
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