Dan Brecher
Counsel
212-286-0747 dbrecher@sh-law.comFirm Insights
Looking into the Future: Business Predictions for 2016
Author: Dan Brecher
Date: November 30, 2015
Key Contacts
Back
While we don’t purport to have a crystal ball, there are a number of trends that are expected to impact New York and New Jersey businesses in 2016.
Here is a list of the business predictions:
Business lending: Online lending is set to outpace more tradition financing methods. Eighty percent of small-business owners go online first to search for a loan, according to the latest statistics. The figure is expected to grow in 2016. For new and growing businesses, the overall outlook for small-business financing is strong, as the economy continues to rebound.
Social media marketing: Businesses should continue to build their online presence, including their social media identities. In addition to using search engines, statistics show that many consumers turn to social media when looking for a product or service. In fact, 88 percent of consumers are influenced by reviews and comments online. While companies can’t control what consumers post in online reviews, they can work hard to create a user-friendly social media page and work hard to make their customers happy.
Mobile payments: Consumers adoption of various forms of mobile payment is on the rise. With the introduction of Apple Pay, the number of transactions conducted via cell phone is expected to skyrocket in 2016. For businesses, it may be time to start researching the various platforms and hardware needed to accept mobile payments.
Compliance concerns: Businesses will have several new compliance concerns in 2016. For instance, several new reporting, disclosure and notification requirements under the Affordable Care Act take effect. In addition, several federal regulators have also announced stepped up enforcement in areas such as the Foreign Corrupt Practices Act and investment fraud. Efforts to protect whistleblowers are also expected to continue well through 2016.
Cybersecurity: Not surprisingly, threats to data privacy and security are expected to increase in the coming year. In addition to becoming more numerous, cyberattacks are also expected to become more sophisticated, and, therefore, more difficult to thwart. Given the rapidly changing threat landscape, businesses need to continually reevaluate their cybersecurity policies and procedures.
Disruptive technology: Technology will continue to challenge the “business as usual” mindset. From ride-sharing apps to e-commerce to 3D technology, technology is shaking up nearly every major industry. Companies that are slow to adapt their business models could be left in the dust.
Are you unsure about how any of these business predictions will impact your business? Then feel free to contact me, Dan Brecher
- Practices: Corporate Transactions & Business
- Locations: Red Bank, NJ, Little Falls, NJ, New York City
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
IP Infringement: What Steps Can You Take If You're Affected?
IP infringement occurs when someone uses your intellectual property without your permission or beyond the scope of the permission you granted. Common examples of IP infringement include copying a product’s patented features or using a trademarked logo in a way that is likely to confuse consumers about the source or affiliation of goods or services. […]
Author: Michael Mietlicki
Public Allegations, Unfinished Investigation: What New Jersey Businesses Should Do Next
When facing public allegations of wrongdoing, companies should not let the speed of the public conversation dictate the speed of an investigation. An investigation designed to confirm a preferred narrative rather than establish the facts can create serious problems later, particularly if litigation, regulatory scrutiny, or employment claims follow. Key Takeaways When public allegations surface […]
Author: Sean M. Pena
BESS Interconnection: Managing Grid, Cost, and Schedule Risk
For battery energy storage system (BESS) developers, securing equipment and site control is only part of the development equation. A project must also connect to the electric grid, and increasingly, BESS interconnection is one of the biggest sources of schedule, cost, and contractual risk. Key Takeaways This article is Part 3 of our Battery Storage […]
Author: Nicholas Wall
Navigating Director and Officer Liability in Times of Financial Distress
Director and officer liability increases sharply when a company is in financial distress. Decisions that would draw little attention in a healthy business can later be challenged by creditors, shareholders, bankruptcy trustees, and regulators as breaches of fiduciary duty, fraudulent transfers, or oversight failures. Understanding where that exposure comes from, and how to manage it, […]
Author: Michael Mietlicki
Before You Buy: Managing Real Estate and Permitting Risk for BESS Projects in New York and New Jersey
For developers pursuing battery energy storage system (BESS) projects, finding the right property is only the beginning. BESS site selection is as much a legal and transactional exercise as a real estate decision, with risk analysis central to the project’s ultimate success. Key Takeaways The core questions for BESS site selection in New York and […]
Author: Nicholas Wall
What Business Owners Get Wrong Before Meeting a Litigation Attorney
What should you expect when meeting a litigation attorney about a business dispute? You should expect to describe the dispute in your own words, hand over the most important documents, flag any deadlines or immediate threats, and leave with a clearer picture of the problem, what information is still needed, and the likely next steps. […]
Author: Michael Mietlicki
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.