Key Trend To Watch: For much of the past 50 years, small business formation has been a bell weather of how the economy would behave over the next 12 months. Today, some economists are striking a warning note. Despite low financing rates and better tools for managing an enterprise, small business formation has slowed over the past six years. In fact, there are 70,000 less small companies today than in 2010 according to John Schlangenhauf, a former congressional economic advisor. (more)
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Customer Service And Technology
Technology is rapidly changing our world but individual customer service is not keeping up.
While many companies offer products and services through apps and downloads, there are still many functions and applications still needing hands-on help.
Take for instance buying a new mobile device. On average, consumers spend five hours talking about or researching a new mobile device, according to industry pundits.
When they do decide to buy, consumers wait an average of 27 minutes for a sales person and another 38 minutes to actually make the purchase. Add an expected 89 minutes to upgrade and make the new mobile device fully functional.
Technology is being held back by insufficient customer service.