COMMON CHALLENGES FACED BY ENTREPRENEURS in 2023
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Roman Semiokhin, serial investor and entrepreneur.
Common
CHALLENGESFACED BY
ENTREPRENEURS IN 2023Building and scaling a successful company is no small undertaking, particularly in the current economic climate. With talk of skyrocketing inflation, a trend predicted to continue throughout 2023, many economies are forecast to stagnate or shrink, with
businesses warned to prepare for that reality.
In addition, COVID-19-related supply chain insecurities remain a significant problem across a range of industries, a problem exacerbated by labour shortages due to the Great Resignation,
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Roman Semiokhin
combined with spiralling energy prices triggered by the war in Ukraine. A report by Accenture suggested that supply chain issues could culminate in a €920 billion cumulative loss to the Eurozone’s GDP by 2023. Consumer expectations are evolving, with today’s shoppers demanding more immersive customer experiences, both online and while shopping in the real world. While forward-looking online retailers are investing in extended reality experiences like virtual dressing
rooms, brick-and-mortar stores are coming under increasing pressure to create more memorable in-store experiences. Meanwhile, digital transformation is accelerating at pace, with AI already beginning to augment businesses – a trend tipped to accelerate in the coming year. At the same time, innovative technologies like the Internet of Things, blockchain, 5G and the cloud continue to enhance each other, ultimately speeding up AI.
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Roman Semiokhin
ROMAN SEMIOKHIN
To learn more about the latest business trends and developments, visit the blog of Roman Semiokhin.
