2020 Mega Business/Economic Trends

Goals

To identify 2020 mega business/economic trends affecting small businesses in three areas: Connecticut, Providence, Rhode Island, and Boston, Massachusetts in order to curate timely topics for original content creation and/or thought leadership by executives. (Recommended sources: Small Business Administration, Hartford Business Journal, Providence Business News, Boston Business Journal)

Early Findings

Our initial research on 2020 mega business/economic trends affecting small businesses in three areas: Connecticut, Providence, Rhode Island, and Boston, Massachusetts revealed insights. Here are key pieces of information we found:

2020 Mega Business/Economic Trends:

Connecticut

  • In Connecticut, a continuing trend in 2020 will be economic and fiscal struggles that will affect small businesses, according to industry experts. Contributing factors to these struggles include: very slow economic growth that is among the lowest rates in the nation and the weakness of the state's tax revenue system.
  • Another ongoing trend in 2020 that will affect small businesses is the U.S. trade war that directly affects exports for Connecticut. Connecticut exports dropped nearly 20 percent, equally more than $800 million dollars last year.
  • An emerging trend in 2020 that is anticipated to negatively impact small businesses in Connecticut will be the slowdown of the U.S. economy.

Providence

Proposed next steps:

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