Small Business Labs

Site Covers How the Economy is being Impacted by the Pandemic by Industry

Small Business Labs

Vertical IQ is a leading provider of Industry Intelligence for those advising small- and medium-sized businesses such as bankers, accountants, and other SMB advisors.      The chart below shows their high-level industry sector coverage.

2020 161

Industrial Internet Changing Industries

Small Business Labs

Interesting study from Accenture on how the industrial internet is changing the competitive landscape of industries.   Accenture defines the industrial internet as the combination of Big Data analytics with the Internet of Things. Eighty-four percent feel that Big Data analytics has the power to shift the competitive landscape for their industry in the next year.

2014 148
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Led by Retail, The Surge in New Business Applications Continues

Small Business Labs

The industry with the highest number of applications in April was retail trade, with 96,000 applications.     This same shift to solopreneur firm applications is occurring in most industries.  Freelance gig economy Independent workers industry structure trends

2021 161

What WeWork's Troubles Mean for the Coworking industry

Small Business Labs

  But despite WeWork's woes, the coworking industry is doing just fine. As we pointed out a few months ago, the coworking industry continues to surge and WeWork's problems won't change this.    Having said all that, WeWork's problems will impact the coworking industry.    In the short run, there will be a lot of negative press and coworking's naysayers (and there are quite a few) will suggest the industry is not sustainable.

2019 147

Coworking Industry Competition Heating Up

Small Business Labs

The coworking industry is getting more competitive.    According to Frank Cottle, chairman of Alliance Business Centers, "WeWork is nothing but Regus with a paint job" He is also quoted saying it's $20 billion valuation "makes no sense" Regardless of what you think about WeWork or its valuation, it's clear they're having a competitive impact on the coworking industry. The coworking industry is attracting a range of new entrants.

2017 151

The Growing Role Small Businesses and Independent Workers Play in Corporate Ecosystems

Small Business Labs

   In fact, there are ecosystem companies in almost every industry and most have SMBs and independent workers as important ecosystem partners.      The rise of ecosystem companies is one of the drivers behind the shift to barbell industry structures.  

2021 186

Coworking Doesn't Need a New Name, But the Office Space Industry Does

Small Business Labs

Key quote: The industry has come a long way since it first took off in the early 2000s.   We agree that the term "coworking" is too limiting for what's going in the commercial office space industry. Firms like Industrious, WeWork, Serendipity Labs and many others no longer just provide workspaces where people work alone together.    This is part of a much broader trend - the servitization of products - that's impacting most industries.

2018 186

MBO Partners 10 Future of Work Predictions for 2021

Small Business Labs

Business Models Freelance gig economy Independent workers industry structureLast week MBO Partners released their annual future of work predictions for the coming year. 

2021 179

Axios on The Rise of "Third Workplaces"

Small Business Labs

  And, of course, the coworking industry was built on the idea that people need 3rd places to work.   The pandemic has accelerated many work trends. But the dramatic and rapid shift to remote work has probably been the most potent trend impacting the way businesses operate. 

2021 161

After a Decade of Strong Growth, Craft Brewing Industry Shows Signs of Slowing

Small Business Labs

of the beer industry's 2016 volume.  beer industry's revenue.  So while the craft beer industry is still growing, the growth is starting to slow. Our interest in the craft brewing industry is due to the fact that it's such a good example of a barbell industrial structure.  We've been following the evolution of barbell industry structures for over a decade and we often use the beer industry as an example.

2017 154

Connecting Artisan Makers With Retailers and Customers a Rapidly Growing Industry

Small Business Labs

Two companies that connect artisan makers with retailers and customers announced large funding rounds last week. The wholesale marketplace Faire raised $100 million while the wholesale and licensing business Minted said they raised $208 million. Both firms connect retailers, who are often small independents, with small and solopreneur maker businesses. Faire reports having "15,000 stores actively buying on the platform?—?more

2018 180

Braintrust - a Coop Online Freelance Talent Marketplace

Small Business Labs

  But 4 years later, coops haven't made a dent in the online talent marketplace industry. Freelance gig economy industry structure Small Business EconomyBraintrust is a new entrant in the online talent marketplace space, but with a twist. 

2020 183

The Ideas Industry

Small Business Labs

The Ideas Industry  is an interesting look at how the marketplace for ideas is shifting due to the emergence of for-profit think tanks and ideas entrepreneurs. The book reaches no firm conclusions whether or not the evolution of the ideas industry and the rise of for-profits is good or bad. " Missing from the book is coverage of the role thought leadership is playing in the rapidly growing content marketing industry.

2017 109

Healthcare Industry Embracing the Gig Economy

Small Business Labs

These include: The Stem : a ‘networked consulting’ model that draws on the industry’s leading independent talent to help health companies increase customer/patient engagement.   The gig economy continues to spread rapidly and is becoming a key talent source for many industries.

2017 141

McKinsey on Technology Trends

Small Business Labs

McKinsey, which is best known as a strategy consulting firm serving CEOs and seniors executives at large corporations, recently released its top trends in tech list.

2021 145

MIT Economists on the Impact of COVID-19 on Labor Markets

Small Business Labs

Government Policy industry structure Small Business Economy Web/TechThe Hamilton Project essay The Nature of Work after the COVID Crisis: Too Few Low-Wage Jobs is authored by MIT economists David Autor and Elisabeth Reynolds. 

2020 184

Upwork Going Public; Shows Maturation of Online Talent Marketplace Industry

Small Business Labs

  That both Upwork and Fiverr have reached the size and scale to go public shows the maturation and growing importance of the online talent marketplace industry. The online freelance talent marketplace Upwork filed last week to go public.    According to the filing, Upwork has 375,000 registered freelancers and 475,000 client businesses located across 180 countries.    The company reported sales of $164.4 million in 2016 and $202.6

2018 137

Pet Industry Continues to Attract Venture Capital

Small Business Labs

Crunchbase's  Investors Unleash Millions Into Pet-Tech Startups covers the surge in pet industry venture funding over the past 5 years. The pet industry continues to grow and the pet humanization trend continues to get stronger as pet obsessed Millennials pamper their pets even more than older generations. Key quote: Funding in pet startups surged by 334 percent to $291.8 million compared to $67.2 million in 2012, according to Crunchbase research.

2018 116

Media a Barbell Industry

Small Business Labs

Paid Content has an interesting article on media becoming a barbell industry.   Barbell industry structures consist of a relatively few giant corporations on one end, a narrow middle consisting of a shrinking number of mid-sized firms, and a large and growing number of small, micro and one person (solopreneur) firms on the other end. We've looked at dozens of industries and all have this structure or are moving to it.   industry structure

2013 138

"Hotel on Wheels" #VanLife Firm Cabana Raises $10 Million

Small Business Labs

The RV Industry Assn. Cabana rents custom-built Ford Transit vans that include beds, storage, bathrooms, and Internet access.    Their tagline is "a hotel that travels with you"   They're hoping to tap into the large and growing number of #Vanlifers.

2021 145

2014 Pet Industry Trends

Small Business Labs

I can think of no better way to start 2014 than with a look at 2014 pet industry trends.  Multibrief's Pet Businesses Will Prosper: Industry trends for 2014 and beyond  provides such an outlook. According to the article, the pet industry is forecast to continue to grow driven in large part by the pet humanization trend.   The pet industry is mostly made of small businesses.

2014 153

The $11 Billion Workspace-as-a-Service Industry

Small Business Labs

The 1st Annual Local-Mobile Workspace-as-an-Industry conference was recently held in San Jose. The workspace-as-a-service industry includes office business centers, coworking facilities, incubators and other shared office environments and services.   The industry is quite large, as shown in the slide below from Scott Chambers'  state of the industry presentation.

2014 208

It's Time to Upgrade U.S. Economic and Labor Statistics

Small Business Labs

   Federal Statistical Needs for a National Advanced Industry and Technology Strategy is a report from the D.C. Sometimes we post articles on topics few people are interested in.    This is such an article.      But you should be interested because the economic and labor data collected by government agencies no longer provide the information we need to properly understand and manage the U.S. economy.

2021 107

Meetings a Huge Industry

Small Business Labs

Based on these numbers, the meetings industry contribution to U.S. GDP is greater than the motion picture/recording industry ($113B), performing arts/spectator sports/museums ($87B) and information and data processing services ($80B). According to a report by the "Big 4" accounting firm PriceWaterhouseCoopers (PWC), in 2012there were "1.83

2014 142

The Demographics of Nonemployer Business Owners

Small Business Labs

The new data provides information by owner demographics such as sex, race, ethnicity and veteran status, geography, industry, receipt size class, and legal form of organization. The U.S. Census has released new demographic data on nonemployer businesses.  

2021 178

Disruption in the Industy Analyst Industry

Small Business Labs

As industry analysts we are very interested in new and innovative business models and practices in our industry.  There are several worth noting: Industry Analyst/Journalism Hybrid : These are firms that are augmenting or replacing their traditional advertising based business models by adding industry analysis and/or research services. It will be interesting to see how this industry evolves.   Business Models industry structure

2014 140

The Post Pandemic YOLO Movement

Small Business Labs

YOLO is an acronym for "you only live once", which was popularized by the rapper Drake a decade ago. We learned this interesting fact from the New York Times article Welcome to the YOLO Economy.  

2021 169

The Problems Fashion Freelancers Face

Small Business Labs

The article explains why: Giulia Mensitieri is an anthropologist and author of  The Most Beautiful Job in the World , which exposed a culture of exploitation across the industry.

2021 161

The Staffing Industry Analyst's Human Cloud Framework and Taxonomy

Small Business Labs

Last week the Staffing Industry Analysts (SIA) released The Human Cloud, the Gig Economy & the Transformation of Work. It nicely covers the topics mentioned in the report title. Key quote from the report on the size of the "human cloud": "SIA estimates that total human cloud spending reached between $47 and $51 billion globally in 2016.

2017 141

The Staffing Industry Analysts on the Gig Economy and Cloud Labor

Small Business Labs

The Staffing Industry Analysts (SIA) recently released their U.S. Gig Economy - 2018 Edition report. They found that about 48 million Americans are in the gig economy, which is 31% of the workforce. They also found about 13.7 million Americans are human cloud workers.    They define the human cloud as: " all manner of companies that facilitate direct, digitally-enabled work arrangements, from sourcing a worker through payment."

2018 140

Online Platforms Supporting Digital Nomads

Small Business Labs

  It's targeted at the travel industry and how it can better support the needs of digital nomads.  Platform Professional's  Platforms and Digital Nomads  covers online platforms supporting digital nomads.

2021 145

Deloitte on Industrialized Crowdsourcing

Small Business Labs

Deloitte University's Industrialized Crowdsourcing is one of the best, relatively short descriptions of crowdsourcing I've read.   The key quote is the summary: Enterprise adoption of the power of the crowd allows specialized skills to be dynamically sourced from anyone, anywhere, and only as needed. Companies can use the collective knowledge of the masses to help with tasks from data entry and coding to advanced analytics and product development.

2014 138

Growing Direct Selling Industry Employs Over 20 Million Americans

Small Business Labs

This makes direct selling a relatively bright sector of the retail industry.   A couple of other interesting data points on the direct selling industry are women make up 77% of sellers and wellness products are driving the growth of the industry (see chart below; click to enlarge). According to the Direct Selling Association (DSA), about 20.2 million Americans are involved in direct selling the U.S. This is up from 15.8 million in 2010. 

2017 142

Digital Nomad Numbers Skyrocket Thanks to Work From Anywhere

Small Business Labs

Most (52 percent) are also reporting they plan on visiting fewer locations but spending more time at each stop, which is consistent with trends in the travel industry as a whole. The number of U.S. digital nomads grew from 7.3 million in 2019 to 10.9 million in 2020, a 49% increase.

2020 221

Spending on Pets and Investing in Pet Startups Continues to Grow

Small Business Labs

   Regular readers know the pet humanization trend is driving the growth of the pet industry.   See our Pet Trends section for more pet humanization and the pet foods industry. spending on pets reached nearly $100 billion in 2020, up from $95.7

2021 166

The Ups and Downs of the 3D Printing Industry

Small Business Labs

The 3D printing industry is at an interesting point, with both good and bad news coming out on a regular basis. But even as it slumps a bit, there's still a lot enthusiasm around the 3D printing industry and no change in the view 3D will eventually fundamentally change how things are made. The question has been when will it finally enter mainstream use for industrial applications.

2015 156

The K-Shaped Recovery

Small Business Labs

The K-shape is driven, in part, because industries that employ high percentages of low and moderate wage jobs are not recovering as quickly as other industries.   Unfortunately for the small business sector, it over indexes in industries that are not recovering quickly. 

2020 190

Wunderman Thompson's 2021 Future 100 Trends Report

Small Business Labs

This year’s report also includes 21 exclusive predictions from leading experts across industries to mark 2021. The 2021 edition of the annual Wunderman Thompson Future 100 report was released last year.    It's one of our favorite trend reports. 

2021 166

Poshmark and the Rise of Social Selling

Small Business Labs

  The traditional direct selling industry (also known as multi-level marketing) has been around at least since the 1940's, with well known brands such as Avon, Tupperware and Mary Kay.      The direct selling industry is also large , with about 6.8

2021 166

What is the Industrial Internet?

Small Business Labs

Industrial giant GE has been pushing the idea of the Industrial Internet, including publishing a detailed white paper on the concept.   GE's definition of the Industrial Internet is primarily focused on big machines like aircraft engines and power generators. The concepts and ideas behind the Industrial Internet are not new.   This is a larger scale variation on the concept of the Internet of Things , first coined back in the late 1990s.

2012 147

The State of the VC Industry - Fewer Firms, More Funding

Small Business Labs

TrueBridge Capital Partners recently released a report on the State of the Venture Capital Industry. The large funds are able to do this because they are garnering a larger share of industry assets. The venture capital industry has been going through a lot of change over the past decade. We've reported on it's problems in the past , but as this data shows the industry is still healthy.

2015 145

The Rise of the Skills Training/Job Placement Industry

Small Business Labs

In response to this problem a rapidly growing industry focused on providing skills training and job placement has emerged. Expect to see this industry continue to expand in the coming years. The current employment picture is quite interesting. The official statistics say we've got a great jobs market.

2015 154

More Industries Moving to the On-Demand Economy

Small Business Labs

This means few, if any, industries won't become part of the on-demand economy. The On-Demand Economy is commonly defined as the economic activity created by online marketplaces that fulfill customer demand via the provisioning of goods and services immediately or much faster and/or easier than traditional firms.    Uber, Lyft and ridesharing services are often cited as examples. But Amazon is in many ways a better example.

2017 122