6A Identifying Opportunities

Economic Trend 1
Small cities face competition in attracting businesses.

a). I searched on the internet and found this article on how small cities are trying to make their city a more desirable location to do business so they are able to create more jobs.
b). This information leads me to believe there is an opportunity because cities want to make their city desireable to visit. No one wants to hang out or live in an area where it is not desirable. That is why building more businesses in small cities would benefit them and attract people to come.
c). The typical customer would be for small business owners.
d). I believe this would be something easy to exploit for a small business owner because there is no competition for a city that doesn't have many businesses in their city. Unlike a very well-know big city, you will have hundreds of competitors.

I saw this opportunity because I never understood how a small business would be successful in a big city who already might have the same type of business you have. Taking advantage of a small city that doesn't have a lot of businesses opened is a huge advantage to get your business noticed and started.

Economic Trend 2
Climate Change is causing higher temperatures.

a). I searched on the internet and found an article on CNBC that not only said climate change is making the world a more dangerous place but on how it affects businesses like farmers. With a breaking record heat in 2019.
b). This information leads me to believe there is an opportunity because of farmers that rely on the weather to grow crops and don't want to minimize or let it affect the quality of their produce.
c.) The typical customer for this would be farmers or any business owner that relies on the weather in order to produce or keep their business going.
d). I believe it is a very hard thing to exploit. This would take a lot of money in order to create a solution and would be hard for all the competitors to not fall back.

I saw this opportunity because of all the natural disasters that are occurring now and especially wildfires and droughts, I assume this has affected a lot of people's businesses.

Regulatory Change 1
Minimum Wage Laws and Paid Sick Days.

a). I searched on the internet and came across the website corporatefinanceinstitute.com and talked about the changes in the law.
b). This leads me to believe an opportunity might exist because this can attract future employees with courting talent and help businesses.
c). Employees who are looking for more benefits at their job would typically be the customer for this.
d). This opportunity is very difficult because as amazing as it sounds for the employees this can affect the businesses and have to consider and replan their budget.

I saw this as an opportunity because I have personally witnessed people actually being sick and having to work under those terms and to which I think is quite unfair just because they really need the money.

Regulatory Change 2
Legalizing marjuana.

a). www.fdli.org had an article that explained the regulation and current federal status of marijuana.
b). There is a huge opportunity here because marijuana is being legalized in multiple states and maybe even soon be eventually legalized everywhere. Opening up a dispensary would be a great and big business venture.
c). Marijuana users would typically be the targeted customer for this.
d). I believe this opportunity can be an easy exploit because since it is now just gradually being legalized to smoke in certain states this business can easily be successful.

I saw this as an opportunity because a plethora of people smoke marijuana and there are not enough dispensaries yet.