Some of these fads were slowly building in the previous decade, others are still nascent, but need your full attention to prepare your business for the times ahead.



1. AI and machine learning



Key takeaway: Automate repetitive tasks, but be wary of automating inefficiencies and biases.



You’re surrounded by artificial intelligence (AI) and machine learning: from the recommendations Netflix makes based on your viewing history to those pesky adverts that track you around the internet. As Bronwyn Williams, a trend analyst at Flux Trends in South Africa, explains, “Most of what you think is AI is actually machine learning.” Williams emphasizes that fears about AI “stealing jobs” are overrated, and most businesses will see the arduous, repetitive tasks given to machines, freeing up humans for analysis and critical thinking. She warns businesses to remember it’s the human interaction that differentiates one offering from another. “Don&#8217;t automate away your value. Look under the hood and make sure you understand why you are automating something – and be careful not to automate inefficiencies.” Looking at automated HR processes, companies have discovered that even unconscious human biases are learned by machines (for example, CVs belonging to certain genders and races are discredited. Machines are not born neutral – especially if they’re learning from humans.) Embrace machine learning, but do so with a pinch of salt.



2. Driverless cars and the supply chain



Key takeaway: Autonomous cars are still about 15 years away, but it’s best to prepare your fleet and supply chain choice now.



The automotive industry is going through some major changes: electric cars, the growth of services like Uber and Lift, and lastly, the development of autonomous vehicles. Though the first two will impact everyday consumer experiences, it’s self-driving cars that will massively alter businesses and their supply chains across Africa in the next decade. “As convenience and efficiency are the cornerstones of the fleet industry, there is no doubt self-driving vehicles will start making a play for their share of the fleet industry sooner rather than later,” explains Sudesh Pillay on fleet management company EQSTRA’s online platform. The supply chain will no longer be affected by driver fatigue and human error. Driverless cars will also dramatically impact accident rates (lowering them by 90%, according to some estimates) and supply chain efficiency. As Innovation Group’s Future Now report indicates, autonomous cars face some serious challenges across Africa before they can become a practical alternative to human drivers. “There is a vision, in the not-too-distant future, in which self-driving cars hold a lot of promise…. Others are more skeptical about the practical feasibility, especially in Africa where the infrastructural limitations (roads, electricity etc.) hold back the vision, at least in the foreseeable future. Our research indicates that self-driving cars may only become a reality in South Africa in [15] or more years and that this may spur innovative advances in infrastructure, energy services and ultimately the look and feel of roads and cities.”



3. Climate crises and



natural disasters



Key takeaway: Hire a Chief Sustainability Officer to



start building climate resilience into your business.



“Now is the time to start thinking seriously about resilience,” says Hugh Tyrrell, Director at Green Edge, a corporate mentoring initiative in Cape Town that helps businesses develop sustainably. “The big brands have Chief Sustainability Officers (CSO). This role is in the C-suite and is forward-thinking,” Tyrell explains. CSOs look at how businesses can start developing their own power, lower their eco-footprint and manage their resources better. Looking to the big corporate trendsetters, there are some major shifts in corporate strategy focusing on a sustainable business model instead of growth at all costs. Unilever, for example, is holding their suppliers to the same eco-friendly standards that they themselves are working at, says Tyrrell. Natural disasters associated with the climate crisis are already affecting African businesses too. Explains Tyrrell, “In agriculture, which is a big sector in Africa, we are seeing the effect of droughts or floods. Others have to work more closely with their suppliers to ensure supplies come in good condition and on time.” Mining is another industry heavily impacted by the climate crisis – and the push by consumers for more environmental-friendly solutions.&nbsp;



4. The age of cyberattacks and data breaches



Key takeaway: Make sure your IT department includes



skilled data protection specialists.



As businesses innovate and rely less on physical hardware like servers, and start instead relying on the cloud, they can expect to see a massive uptick in cyberattacks and subsequent data breaches. This trend increased exponentially in 2019 (even the City of Johannesburg in South Africa was held by ransomware) and is set to explode in the coming decade. Added to this, businesses are collecting more data than ever before, particularly for marketing purposes and to tailor their product offerings. Because of this, businesses should prepare themselves for the onslaught by firstly, taking their online security very seriously, secondly, training their staff (employees are the weakest link in any security chain) and thirdly, putting more budget behind appropriate security measures. “The demand for narrow cybersecurity expertise is driven by a constantly changing threat landscape, as well as evolving technologies, such as cloud or IoT. As a result, we see the bigger demand in, for example, threat intelligence analysts and dedicated threat intelligence services, and experts for cloud platform protection. The call for data protection specialists is seen in both technical and regulatory and compliance aspects,” says Alexander Moiseev, Chief Business Officer at online security software Kaspersky.



5. The remote workforce



Key takeaway: Flexi-hours and working remotely are practical ways to combat challenges like loadshedding and traffic.



With intermittent power supply (particularly in South Africa), increasing traffic and less reliance on physical IT infrastructure like servers, the remote and flexible workforce is becoming a norm. Says Moiseev, “The working model is already being changed, with 40% of small and medium companies regularly allowing their employees to work at locations outside the office — from home or while traveling.” In addition, health scares like the coronavirus are amplifying these trends. “Apps that enable remote working are having a moment,” explains Williams. “You now get filters to add makeup to video conferences so you don’t have to dress up when you’re working from home.” Many employees expect the flexibility of remote working when job hunting, and businesses reap the benefits of agility.  



-Samantha Steele

Computing and malware concept

The Five Trends To Future-Proof Your Business

The historic Vilakazi Street in South Africa is now eerily quiet. With the lockdown, small entrepreneurs here like Sifiso Moyo are pondering new ways to resuscitate life into the precinct.



Sifiso Moyo is the co-founder of The Box Shop in one of South Africa’s most historic tourist hubs.



The lifestyle and retail outlet he founded with his business partner, Bernard Msimango, is on Vilakazi Street, known for being the only street that has famously housed two Nobel Peace Prize winners, Nelson Mandela and Archbishop Desmond Tutu, in South Africa’s township of Soweto in Johannesburg.



Even before South Africa’s president Cyril Ramaphosa announced the national lockdown from March 27, Moyo says he had been seeing dwindling visitors to the street and The Box Shop.



South Africa had confirmed its first Covid-19 case on March 5.&nbsp;



“The street is literally on lockdown. All businesses, especially formal establishments, have ceased operations, however, businesses that will survive on Vilakazi Street post the pandemic are those that didn’t invest [much] in attracting and appealing to international tourists,” says Moyo.



The Box Shop will need to start dropping prices, he adds, to attract more locals to the outlet.



“We need to position the street as a destination that is futuristic, cutting-edge and tourism-friendly, especially to the locals. So we are strategizing, decreasing our prices, marketing ourselves aggressively to the locals and addressing ourselves as a destination of choice.”



Moyo predicts it will take four months for global tourism to return to normal, but will South Africa be one of the preferred destinations?



“We at The Box Shop and some operations on Vilakazi have positioned ourselves so well that we appeal to the locals too, but looking at the economic impact of the virus, we have less cash circulating in the market and that affects all of us. So as a precinct, we have to start thinking differently,” he says.



The Box Shop has taken the lead in integrating technology into its operations, developing an app for the upcoming Youth Day; a South African public holiday in June. The app shares the Vilakazi Street experience and allows people to book tables and make advance payments for the event.



All this, only if the coronavirus has been brought under control by then.



For the period of the lockdown, the shop is not trading, and Moyo says they too are applying for a relief fund from the government.&nbsp;&nbsp;&nbsp;



“We are feeling the effects, we really need subsidy from government, otherwise there is a threat that the entire precinct might shut down and it will need to be resuscitated and re-established which will mean all the 20 years of effort that has been put in to develop the street will go down the drain,” he laments.



For now, responding to the situation using technology and some clever marketing seems to be the only way forward for most small businesses like The Box Shop.

Founders of The Box Shop Bernard Msimango and Sifiso Moyo; pic supplied

A Famous Street Falls Silent: Luring Locals Only Way After The Lockdown

It was
recently reported by ratings agency S&amp;P Global that the coronavirus
outbreak has plunged the world into a recession. On the home front, a sudden
surge in COVID-19 cases in the country resulted in the President of South
Africa imposing a 21-day country-wide lockdown, starting from Thursday, 26 March
2020. Combine this with the fact that the country also recently announced to be
in its third recession since 1994 it’s safe to say that many businesses are
beginning to feel the effects of the pandemic.



The impact of the coronavirus on small
businesses is likely to be substantial, especially for local businesses who are
already feeling the pinch, as financial and market uncertainty can easily
translate into an emotional crisis that can overwhelm our systems. However,
help is on the way as the Department of Small Business Development announced
that a Debt Relief Fund has been set up to assist small, medium and micro
enterprises impacted by COVID-19.



While this
relief is welcomed, it is still vital for leaders to step up. The
world has been through crises before, but during these significantly difficult
times, the economic impact may be as severe or possibly worse. As such, those
in leadership positions must use past crises as examples and apply what was
learnt to keep the country on course and minimise the impact of the pandemic.



Karl Westvig,
CEO at<a href="http://www.retailcapital.co.za/" target="_blank" rel="noreferrer noopener"> </a><a href="http://www.retailcapital.co.za/" target="_blank" rel="noreferrer noopener">Retail Capital</a>, has pinpointed the visible areas that are affected
and outlined a few pointers to help small business owners weather the storm.



Liquidity



The first
victim of panic is liquidity – banks, asset managers and funders stop lending.
When they cannot calculate the potential risk, they will not lend.&nbsp; Therefore,
it is critical to shore up cash by drawing down on available facilities and
suspending any unnecessary investments. Reduce expenses and manage cash flow
daily.



Get Your Best
Team on It



When a
business is growing, we tend to shift our best people into roles linked to
growth and new initiatives. In a crisis, these people need to move into the
highest priority roles. These roles would include collecting from customers,
raising facilities or engaging key clients.



Morale and
Communication



People need
leadership. This would include authentic and regular communication about the
situation, what the business requires and how this will be achieved. You can’t
control the circumstances, but you can control the response and actions. This
will create more certainty. 



Hands-on



Events evolve
quickly and every day is critical. Leaders must be hands-on. They have to be in
touch with customers, suppliers, funders and staff. They have to collect data
on everything – the mood, the financial metrics, even customer stories. Some of
the best information is anecdotal, not just big data. 



Policies



It’s tough to
lead when you don’t understand all the underlying levers. These can change in a
crisis. What worked in a stable environment can go out of the window in an
instant. The best approach is to start again, listen to customers and then
adapt your policies within your framework.



“This is not a manual on how to handle the current crisis, but hopefully, the points mentioned above can add to what you are already doing. In simple terms, it is easy to be overwhelmed, so tackle a few things very quickly and with commitment. This will create certainty and lead to action. The alternative is paralysis,” concludes Westvig.

Businessman holds SMEs Small to Medium Enterprises.

5 Tips For SMEs To Counter The Covid-19 Crisis

In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities. Projections show that three in ten buildings on every high street could offer a new franchise opportunity, with flexible working, or coworking as it’s often called, emerging as a booming industry.



<figure class="wp-block-image"><a href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1"><img loading="lazy" decoding="async" width="1024" height="684" src="https://www.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069-1024x684.jpg" alt="" class="wp-image-40993" srcset="https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069-600x400.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0069.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



A booming industry With businesses and individuals increasingly using flexible working spaces, the co-working industry is estimated to be growing by 24% each year. A recent study of 18,000 business leaders in 96 countries by IWG, the parent company of leading workspace providers including Regus and Spaces, revealed that the majority of business leaders (89%) believe flexible working is helping their businesses to grow and stay competitive. In addition, 80% felt that adopting co-working, and enabling their employees to work anywhere, has helped them recruit and retain top talent.



 Likewise, with a huge 50% of workers predicted to be working remotely for most of their working week, by 2022, forecasts suggest that the global mobile workforce will reach 1.87 billion people. This presents a unique opportunity for those in the franchise industry to jump on what is a rapidly growing trend.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> Partnering with IWG gives business owners the ability to participate in this growth story and take advantage of the huge demand for flexible, contemporary workspaces – one of the most exciting growth markets in the country.<cite> Mo Nanabhay, Franchising Director &#8211; Africa </cite></blockquote>



<hr class="wp-block-separator"/>



<figure class="wp-block-image"><a href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1"><img loading="lazy" decoding="async" width="1024" height="684" src="https://www.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029-1024x684.jpg" alt="" class="wp-image-40983" srcset="https://cms.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029-600x400.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/City-Point-029.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<div class="wp-block-button"><a class="wp-block-button__link has-background has-vivid-red-background-color" href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1">Find out how you can take advantage of the work-space revolution</a></div>



 As more people look to work flexibly, the demand for places for them to do so is growing; and as the corporate real estate market continues to grow, global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030. 



 The growing franchise opportunity This makes the serviced office market one of the most exciting growth markets in the world. Simply put, it is the next franchise frontier. And the industry founder, IWG, with its thirty years of experience in the, serviced office market and brands to match every requirement and style like Regus and Spaces, is now offering people a chance to get involved. In September 2018, the company announced they would be leading the UK’s first serviced office franchise partnership with franchising experts, ACCA Office Ltd. Since then, four more businesses have partnered with IWG, including Kash Office Limited, AMA Workspaces, SME Properties Limited, and Q-Boid Limited. These franchise partnerships will see sites opened across the country over the next couple of years. In Asia, the company has agreed to sell its Japanese business to Tokyo-based TKP Corporation for the whole of Japan. 



<figure class="wp-block-image"><a href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1"><img loading="lazy" decoding="async" width="1024" height="684" src="https://www.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025-1024x684.jpg" alt="" class="wp-image-40982" srcset="https://cms.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025-600x401.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/St-Marys-Axe-025.jpg 1766w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



 IWG is present in almost 3,300 locations, 120 countries and 1,100 town and cities across the world – and it’s this experience that makes IWG the ideal franchise partner for those wanting to take advantage of the booming demand for serviced offices worldwide.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> “Our years of experience in the industry and our well-established global network has taught us that building a quality flexible workspace offering requires trust and support. We work closely with our franchisees to ensure that they have a framework to find the right location and design, backed by the strength of our operational and marketing support and the best customer service that IWG is known for.”<cite> Mo Nanabhay, Franchising Director &#8211; Africa</cite></blockquote>



<figure class="wp-block-image"><a href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1"><img loading="lazy" decoding="async" width="1024" height="481" src="https://www.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002-1024x481.jpg" alt="" class="wp-image-40981" srcset="https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002-1024x481.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002-300x141.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002-600x282.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002-768x360.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2019/06/Ldn-Br-0002.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



 To find out how you can take advantage of the workspace revolution, contact IWG’s franchise team via <a href="mailto:franchise.africa@iwgplc.com">franchise.africa@iwgplc.com</a> or visit <a href="https://franchise.iwgplc.com/?utm_source=Forbes_Africa&amp;utm_campaign=EN_Franchise_Brand&amp;utm_medium=Display&amp;utm_content=Article_1">franchise.iwgplc.com</a>.

Tag: small business

FORBES AFRICA SOCIAL MEDIA

The Five Trends To Future-Proof Your Business

A Famous Street Falls Silent: Luring Locals Only Way After The Lockdown

5 Tips For SMEs To Counter The Covid-19 Crisis

Franchise’s newest target: the flexible workspace revolution