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3 Business And Technology Trends That Are Here To Stay

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What to Know About Self-Funding Your Business

May 16, 2021

It goes without saying that the Covid pandemic has changed the way we have lived our lives over the past twelve plus months. Those changes have affected all aspects of daily life including the way that we conduct business. Although Covid has caused a great deal of heartache and hardships, there is some good that has come out of the tragedy. The creation of new business models and the pivot in consumer-based behaviors can improve the way we live our lives moving forward. Many of these implementations will actually outlive the current catastrophe.

The bottom line is that when people get used to a new way of doing things, even if they're forced to make those changes, there outlook tends to change on a permanent basis. There have been a great deal of recent business and technology developments over the past year. The following are the top three affinities that we will see continue well into 2021 and beyond.

Remote Working and Video Conferencing Will Continue to Expand

Thanks to recent advances in video technology, organizations were able to shift from an office work environment to a remote, work from home environment. This should continue to expand in 2021 and beyond. Even though the Covid pandemic is hopefully coming to a close in the near future, many employees have found that they prefer to actually work from home. This can lead to an increase in employee productivity and a significant reduction in employee-based expenses. For example, if a signification amount of an organization's workforce is working remotely from home on a permanent basis it reduces or even eliminates the need for physical office space.

Telemedicine Will Thrive

Due to the current Covid pandemic the health care industry has been hard at work coming up with new ways to limit physical contact between patients and health care workers such as nurses and doctors. That has led to the implementation of far more teleconferences and videoconferences between patients and health care workers. In essence, instead of making in office or in hospital visits for non-emergencies, patients are now starting to adopt video technology and old-fashioned phone calls. In addition to reducing contact, these methods are far more convenient for the patients. The bottom line is that you no longer need to physically travel to the doctor's office or hospital and wait in the waiting room for what seems like hours on end in order to see your doctor.

The Micro-Mobility Industry Will Continue to Grow

Although the micro-mobility industry came to a screeching halt at the start of the Covid pandemic, it is now bouncing back and growing as rapid as ever. The vast majority of the population is fed up with being stuck in their homes. People simply want to get out and about. We also want to explore. However, fuel prices are increasing on a daily basis. Many consumers have even sold their automobiles since they now work from home and want to eliminate a considerable expense. That's why the use of electronic bikes and electronic scooters is sky high this spring. As an added bonus they are also considered to be acceptable when it comes to social distancing.

In conclusion, a great deal of the business and technology developments that have become popular due to the Covid pandemic will continue to see growth in 2021 and beyond. This is due to the fact that these new ways of doing things are quickly become the normal way of doing things. Out of all darkness comes some light.


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About the author

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Mark Scribner

Managing Director, Boston

Mark F. Scribner is the Managing Director of oXYGen Financial, Boston Office. Mark grew up in Melrose, MA and now lives in Boston. He has an amazing wife Michelle, who supports all of his crazy endurance endeavors, including a solo attempt to swim the English Channel! Mark is the father of four children - Mark, Bella, Olivia and Emma. He loves being an assistant NFL photographer and cancer fundraiser, along with creating and running various companies.


The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.
Background and qualification information is available at FINRA's BrokerCheck website.

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