Tammy Dowley-Blackman Group, LLC has spent nearly twenty years building companies focused on delivering innovative approaches to leadership and organizational development. As we get settled into 2023, we are about to take another step further into this new decade and era of entrepreneurship, and so, we turn our attention to the future and the many ways business ownership is adapting and changing for the better.
The Increasing Power of E-Commerce
Promoting and selling goods and services online has become big business in recent years. Citing an IPSOS market research study commissioned by PayPal, Entrepreneur reports that the internet is drastically increasing profits and the number of potential customers a business can reach. Here are some notable statistics:
- Of small businesses that sell online, 64 percent said the internet has increased their revenues or sales.
- 48 percent felt the internet helped to expand their geographic reach in the United States.
- 73 percent saved money by decreasing administrative costs.
A New Generation of Rising Entrepreneurs
Generation Z is a unique cohort of rising young entrepreneurs and emerging leaders. In a recent article, Forbes notes that Gen Z’s economic power is swiftly increasing with each passing year. “Just when it seemed Millennials were poised to be the largest group of change-makers in recent history, it will be Gen Z that creates more opportunities for entrepreneurs.”
According to Worth.com, “Gen Z may be the most entrepreneurial generation ever, with “62% of Gen Zers indicating they have started—or intend to start—their own business. And those who have already started down this path are not only embracing entrepreneurship but also transforming it with unique approaches to brand building, upskilling and operations.” As digital natives, this generation has a definite edge in e-commerce, bringing fresh ideas to the growing online marketplace.
A Sign of the Times
Embracing new ways to start and manage a business is a wise decision going forward, and seasoned professionals can take a cue from the entrepreneurial approach and social spirit of Gen Z. Not just ambitious, this generation is looking beyond profits by trying to make a difference in the world. Whether through philanthropy and supporting causes they believe in, utilizing sustainable practices that protect the environment, serving an important social need, or helping to solve an ongoing problem, Gen Z is driving the evolution of entrepreneurship and the future looks bright.
Tammy Dowley-Blackman Group, LLC delivers innovative and interactive approaches to leadership development through a multi-platform company, including Looking Forward Lab, which focuses on supporting Gen Z as they enter the workforce and provides comprehensive tools for those hiring and managing young professionals. Visit our website for more information, or contact us and let’s talk!
Tammy Dowley-Blackman Group, LLC is a certified National Supplier Development Council Minority Business Enterprise (MBE), Small Business Administration (SBA) Woman Owned Small Business (WOSB), and Women’s Business Enterprise Network Council (WBENC) woman-owned company. The company is comprised of a suite of brands, including TDB Group Strategic Advisory, a management consulting firm, as well as Looking Forward Lab, which offers a full-service learning engagement model focused on Gen Z workplace development and support for their managers.