https://business-monitor.ch/de/p/lucas-edgar-devenn-6082901

Significant Challenges For Businesses In 2025


Will 2025 deliver more of the same challenges for business as 2024?
There will be continuing geopolitical instability in key trading zones,
cybercriminals, workforce changes, and additional requirements, like
compliance with new privacy laws.
Data Protection And Cybersecurity
There are continuous threats to cybersecurity, the future of work, energy,
food, and other crises. In another article, we look at job loss and the
future of work, plus we have an article on where to go next for
globalization.
Data protection
Data protection has shifted in the past few years, putting much
responsibility on businesses. GDPR changed how companies deal with
data, representing a big challenge for international firms. Individual
states now have regulations, such as the California Consumer Privacy
Act.
More info Lucas Devenn
In 2025, businesses can expect more change driven by new legislation,
including New State Privacy Laws.
Eight States have new privacy laws coming into effect in January 2025,
including Iowa, Delaware, Nebraska, New Hampshire, New Jersey,
Tennessee, Minnesota, and Maryland.
Data protection and cybersecurity remain top priorities for
organizations. However, attackers can now illegally access systems and
personal data using mobile apps.
CyberThreats
Rising cyberattacks will continue to challenge everyone online. All sites
and businesses must prioritize security to protect their systems from
hackers.
Malware and ransomware are still catching people out. However,
companies are keeping up with cyber threats with a SOC and compliance
like CCSS and PCI DSS—but only just!
If you’re considering cryptocurrency payments in 2025, take a zero-trust
approach to supply chain management with cryptocurrency security
standard compliance (CCSS), and as credit cards are still prevalent,
comply with PCI DSS for cardholder payments.
Geopolitical Instability
As for the most pressing concerns today, geopolitical tensions threaten
global peace and trading. As an entrepreneur, you may think twice about
starting a new business if it needs predictable market access and stable
supply chains.
A business environment with fluctuating interest rates threatens
borrowing costs and access to investment, making investing in some new
businesses more risky.
However, experienced entrepreneurs who have been through the
upheaval of market instability know they just need to delve into their
skills toolbox to create strategies that can mitigate the risks amid
uncertainty, for example:
Develop new revenue streams
Businesses that rely on one sector or customer for most of their revenue
have all their eggs in one basket. Diversifying product or service
offerings to operate in different sectors creates more revenue streams
and financial stability. However, doing so requires investment, so
another strategy is to fill the coffers.
Financial stability
Ensuring your business has access to funds when it needs them for
survival as well as growth requires a plan that includes the following:
Sufficient cash reserves
Have access to liquid cash reserves in savings accounts, physical cash,
money market accounts that can be withdrawn, Treasury bills, and
prepaid cards.
Having liquid cash ensures that a business maintains financial flexibility,
pays its bills on time, and takes advantage of opportunities that require
immediate funding.
Global Workforces
More businesses now have employees based in several locations.
Workforce dynamics are challenged by what’s known as “The Great
Detachment,” expedited by the recent pandemic’s remote working and
the continued disconnect between employees and their jobs.
Automation of jobs
It’s predicted that automation will affect a small percentage of jobs in
this decade, estimated at about 3% globally. However, within the next 10
to 15 years, that percentage could rise significantly as machines become
capable of autonomy, so it’s something that all industries need to think
about.
By the mid-2030s, up to one-third of your workforce’s jobs may be
automated. Is that something you want to embrace, or would you prefer
to keep the human touch, even if it means falling behind the
competition?
However, it is essential to note that automation and people can work
together correctly. Combining the two allows your business to have the
best of both worlds without getting behind.
Automation could take over jobs such as hiring and employee analytics.
Alternatively, you could have your staff work in customer service and
stand out above the competition simply because you have the human
touch.
A study by Upwork predicted that nearly 75% of teams worldwide will
have remote workers in the next decade, which could mean major
cultural shifts.
Businesses are balancing the challenges with the advantages of remote
working, including:
 A much larger pool of candidates to fill roles
 Potential salary savings as workers aren’t paying to commute
 Increasing employee productivity
 Boost in employee happiness
The greatest challenge of a predominantly remote workforce is that it
makes it difficult to encourage teamwork and ensure that people are at
their most productive. Technology is making it easier to overcome these
challenges, but in some cases, face-to-face work will still be needed.
Innovation
Businesses are nervous about taking risks in the current economic
climate, but innovation is essential to keep their businesses relevant.
Changes such as embracing big data, creating more flexible work
environments, and encouraging idea management are ways to innovate
while still taking small steps at first.
Many businesses have already found that they are staying ahead of the
game by being change agents and innovative over the past few years. For
example, bringing forward their digital transformation process to better
manage expenses and reach more customers.
Therefore, business owners must learn ways to stay innovative to ensure
they aren’t left behind in the fast-paced business world.
Final Thoughts
Businesses face many of the same challenges as in 2024, such as the
Ukraine war and instability in the Middle East. Resolving these hot
political zones will significantly improve business confidence, as most
businesses fear an unstable global political climate.
However, with foresight, businesses can become more robust with
strategic investments and conservative budgets. Technological
advancements can also be better utilized to beat the competition and
diversify offerings to win over new and retain existing customers.