Small and notably home business are in an excellent position for the future. Why? Scale works in favor of the smaller business. A HomepreneurTM can change strategy quickly and pivot to take advantage of trends. Bigger business cannot. Technology is one example. One person can make changes with the latest AI or other technologies. New brands, devices, items and products are created within days to weeks and sold via online markets. Big business with established distribution channels and massive structure is at a disadvantage.
There are barriers for small and home business: expense of new technology, access by all, remote locations, underrepresented groups. A concerted effort by government and communities is needed to level the field so all can compete. Sustainable production and distribution channels are needed for everyone to compete in a global marketplace. If support exists, the home business benefits by faster reaction times.
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