How is Entrepreneurship Changing Our Workforce?

How Is Entrepreneurship Changing The Workforce

Approximately 27 million entrepreneurs start or run businesses in the United States each year, according to the latest available data from Inc., which represents about 14 percent of the population. Entrepreneurs have various reasons for starting businesses such as dissatisfaction with their jobs, wanted to create something from scratch, or the opportunity to make important decisions. But whatever their reasons for going it alone, entrepreneurs have dramatically changed the complexion of the workforce. Here’s how.

More Outsourcing
Because of the increase in service entrepreneurs or freelancers, more companies are outsourcing these professionals to write content, manage their books, execute their social marketing and to provide valuable consulting services. The main reason for outsourcing though can be for website design as the majority of these businesses need to have an online presence to succeed in this current climate. Companies like GO Creative are just one example of brilliant website designers who can also help their clients with SEO (search engine optimization). The reason new dynamic is that entrepreneurs enable businesses to contract with highly qualified people and still save on costs, according to Hera Herald. Legal, education, and even healthcare sectors outsource some of their work. For example, since such industries require proper document management, the managed print services can be helpful. Such service providers can establish a centralized approach that eliminates unnecessary administration, keeps costs to a minimum, and improves productivity. Another example of a service to streamline business could be software that tends to be used for invoicing. Invoicing is an integral part of the accounting process, and using software for the purpose of making the business more effective will only prove to be a boon.

Greater Flexibility
The influx of small business owners is forcing companies to be less rigid in their organizational structures, decision-making processes and how they conduct business. Many are allowing their employees to telecommute because they’ve seen how this flexibility can foment new ideas and improve morale with entrepreneurs. Some companies are also doing away with cubicles to force people to work together and enjoy the synergism of their efforts. eCommerce sellers find platforms like Amazon are quite flexible. Such marketplaces gather a large pool of customers and business owners find it easier to sell their product in one place. Several marketing campaigns like amazon ppc help them sell their inventory at a faster rate. Amazon marketing agencies such as Sunken Stone and the likes are available when they need expert advice on marketing strategies. As thought patterns, economic times, and technology change, the traditional workforce is growing, evolving, and changing with it, according to Entrepreneur’s Handbook.

Companies Focusing More on Creativity
For the most part, entrepreneurs have forced companies to do away with their authoritarian ways. Instead of all the red tape, employees are encouraged to exercise their creativity and voice their opinions in meetings. Corporations are also using matrix structures more, where employees have multiple responsibilities and report to more than one supervisor. Some executives have even been forced to create separate organizations to promote entrepreneurship in their corporations, according to Hera Herald.

Exit Strategy for Employees
Because of all the incubator programs, support organizations and investors that help entrepreneurs succeed, employees who work for companies realize they have more options than just getting another job. Once they get some experience or better familiarize themselves with their industries, they’re more apt to start their businesses. One reason for this is that aspiring entrepreneurs often study others who start businesses, so they already know some of the procedures involved. Workers may also start their ventures part-time until they have enough money to quit their jobs.

About The Author
Yuri Vanetik is an Entrepreneur, Private Investor, Coalition Builder, and Philanthropist in Orange County, California. He is the Managing Partner of Vanetik International, LLC, a management consulting firm which offers advisory services and strategic planning to businesses and industries. He is also the Managing Partner of Dominion Asset Management, a technology-driven opportunity real estate fund that invests in undervalued real estate throughout the United States. Yuri Vanetik brings over 20 years of professional experience in a variety of roles, and has been featured in notable publications, including the Wall Street Journal, California Business Journal, Bloomberg Law, and Forbes.

Learn more by visiting Yuri Vanetik on Crunchbase.

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