1. The proportion of Australian businesses expecting an increase in revenue has been steadily falling between February and July of 2021 (27-18%).
  2. In June, two in five (41%) businesses expect it to be easy or very easy to meet their financial commitments over the next three months within the Australian Economy. This compares to 23% in August 2020.
  3. Entrepreneurial and AI-powered tools are currently outperforming human brainstorming sessions

Market research has shown that the number of new businesses formed within the Australian economy have- despite the unprecedented COVID-19 pandemic, continued to rise quite significantly.

According to the Australian Bureau of Statistics, June of 2020 saw over 2,400,000 actively trading businesses within Australia- translating to a roughly 46,651 increase in the total number of businesses within the economy, or 2%.

This trend has continued through all the way into June of 2021, with over 20% of Australian businesses expecting to increase the number of staff they employ over the next 3 months.

The March Quarter of 2021 illustrates a roughly 2.0% raise in wages and salaries which could indicate a lack of supply of labour & consequent increased demand within the job sector.

Starting a new business- especially as a first time entrepreneur, in such a dynamic and constantly changing market can unequivocally involve significant complications- both structurally, and financially. Business owners should undoubtedly be encouraged to engage with the prolific number of innovative and game-changing IA market tools that are available to them, and consequently set themselves apart from their relative competitors.

Such tools include TRUiC’s Business Name Generator, as well as other more Business Intelligence-based programs- such as Microsoft’s Power BI, Google Data Studio and Qlik.

Below we will take an analytic look at the emergence of AI-based entrepreneurial tools within the global and Australian market.

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TRUiC: A Unique Take on Entrepreneurial Tools

Nowadays, there are multiple Name Generator programs that business owners can choose to incorporate into their business- each providing a variety of different capabilities, pros, and cons.

TRUIC (The Really Useful Information Company) was one of the first ever companies to undertake such a huge bet on the global startup market, investing in IA tools which are currently used to smooth the path for entrepreneurial-minded individuals who are looking to create their own business brand.

The prominent brand’s business name generator comes with a plethora of exclusive benefits and options, and even allows its users to download their own independent business name completely for free.

It also allows its users to automatically and timelessly identify whether their proposed business name has already been trademarked or registered in another area around the globe, enabling business owners to direct their valuable time to other areas of their brand.

Customers can also test out their desired business name on a business card, ensuring they remain satisfied in every possible way, completely for free.

TRUIC believes that- as a result of the powerful tools that have been brought forth by AI technology, small business owners and young entrepreneurs are currently in a position that allows them to develop successful business models a lot more easily and with much fewer complications than a couple of decades ago.

This is because, aside from business name generators and data report configurations, such AI tools can allow businesses to: draft legal documents and contracts, initiate new business plans, or even find adequate staff and employees.

Emergence of AI in Marketing

The proliferation and development of AI has undoubtedly irrevocably altered the sphere of marketing- with businesses spending an increasingly sizable percent of their budget on marketing services.

AI lies at the core of the marketing efforts of progressive companies. As briefly touched on above, a correct incorporation of such tools within one’s business model can allow them to adequately: a) identify market trends, b) save valuable time and money, c) automate a significant amount of legal rigmarole, and d) reveal potential future market growth opportunities.

Such a holistic approach that goes further than merely using primitive Facebook and Google tools is essential, as this can allow business owners to consistently maintain a significant competitive advantage within their industry.

A Final Take

Following market trends at the right time can undoubtedly be extremely beneficial for business owners, but this is only in cases where such trends are highly efficacious in relation to an individual’s specific business model.

Finding innovative and smart ways to incorporate IA into a business- including Business Name Generators, Image Recognition, and Website Auditis, can go a long way in ensuring you differentiate yourself from your competitors, and consequently reap the relevant monetary and structural benefits that follow.

It can also allow small businesses to segue away from the alleged ‘’pay-to-win’’ advertising structure encapsulated by Facebook and Google advertising- whereby the bigger the marketing budget, the better the results are likely to be, and acquire a better chance to compete on a global level.