As a business owner and a business lawyer who supports many small businesses, I spend a lot of time planning and considering shifts and movements in the business world. So in this episode, I want to share with you the five business trends I'm predicting for 2024.

Firstly, I've noticed a growing trend in consumers becoming more educated and aware of what contract terms are reasonable and unreasonable. With the new rules around unfair contract terms, business owners, especially coaches, need to pay attention to this trend and ensure their contracts are fair and in compliance with the new rules.

I also think we’re going to see more emphasis on business structure next year. Given the economic and business landscape of the past couple of years, more and more businesses are realizing the importance of revisiting their business structure. It is crucial for business owners to protect their businesses by choosing the right business structure for long-term sustainability.

To no surprise, I think artificial intelligence will continue to grow. As it does, it is essential to consider copyright law around AI and ensure that its use is done authentically without compromising the human element of a business's messaging, branding, and marketing. Business owners must understand the implications and ownership of AI-produced content.

The shift to online shopping has been evident for the past few years, and it is not going away anytime soon. Business owners now realize that building a profitable online business requires more than just a website and an idea. There is a focus on building sustainable online businesses that provide value to customers and adapt to the changing business landscape.

Finally, I think 2024 will see the continued proliferation of working from home and hybrid working arrangements. Ever since the COVID-19 pandemic employees and employers alike are embracing flexible working options. However, for long-term sustainability, employers must ensure they are properly setting up remote working arrangements, including providing a safe working environment and effective communication.

I would love to hear your thoughts on these trends or if you have any other trends that you believe will shape the business landscape in 2024. Feel free to reach out to me with your feedback, questions, or ideas. As always, thank you for joining me on the Rise Up in Business Podcast, and I look forward to connecting with you soon.

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