Future-Proofing the Present Navigating the twists of technology, sustainability, and global change to stay ahead in business

Businesses are in a state of constant flux, shaped by technological advancements, economic uncertainties, and shifting consumer expectations. As entrepreneurs grapple with these forces, Marco Donzelli, a seasoned business leader and expert, and global CEO of HLB International, a major advisory and accounting network, offers key insights into the trends, risks, and strategies that are crucial for thriving in today's dynamic environment.

Drawing on the latest Survey of Business Leaders by HLB, Donzelli highlights some of the most pressing issues that entrepreneurs must address, from digital transformation to sustainability. Through this conversation, it becomes clear that agility, innovation, and a keen understanding of global trends will define successful businesses in the years to come.

Digital Transformation and Technological Risks
One of the most significant revelations from HLB's Survey of Business Leaders is the widespread recognition that digital transformation is no longer optional for businesses aiming for future growth. "In my opinion, one of the most significant risks to business growth in the current landscape is the rapid pace of technological change. As businesses strive to keep up with the latest advancements, there's a constant pressure to innovate or risk obsolescence," Marco Donzelli explains.

This pressure to innovate is coupled with financial risks. "This can lead to significant investments in new technologies without a guaranteed return, presenting a financial risk," Donzelli notes. Additionally, he emphasises the cybersecurity challenges that come with increased digital reliance: "Moreover, the increasing reliance on digital tools elevates the exposure to cybersecurity threats, which can cripple operations and erode trust with clients."

The interim findings from HLB's survey reveal that digital transformation is a primary focus for 79% of business leaders. But as companies embrace new technologies, they are also increasingly concerned about the risks of cyber threats. Donzelli concurs, stressing that businesses must be proactive: "Cybersecurity issues have seen a substantial rise in awareness, with 74% of leaders concerned about digital threats. Geopolitical instability and regulatory changes are also major considerations for businesses, as these factors can significantly impact operations and market dynamics", he says.

He goes on to warn that failure to adapt to these shifting dynamics could hinder long-term growth and affect brand reputation.

Sustainability: A Growing Imperative
The growing emphasis on sustainability is another critical trend that Donzelli highlights, as businesses face increasing pressure from both consumers and regulators to adopt environmentally responsible practices. "Entrepreneurs are facing mounting pressure not only from consumers but also from regulators to adopt sustainable practices," he says.

Sustainability is not just a trend; it's becoming a necessity for businesses to maintain relevance. "It's no longer enough to just talk about sustainability," Donzelli emphasizes. "You need to embed it into your core business model, whether it's through reducing your carbon footprint, adopting sustainable supply chains, or developing eco-friendly products." This shift is evident in the HLB survey, where 74% of business leaders identified sustainability as a central focus of their strategy.

Donzelli encourages entrepreneurs to view sustainability not just as a compliance issue but as a key differentiator in the market. "If you're not addressing sustainability now, you'll be left behind as the global business environment continues to evolve," he warns.

Navigating Economic Uncertainty and Agility
As businesses look to the future, Donzelli underscores the importance of maintaining agility in the face of economic uncertainty. "The current climate is volatile, and entrepreneurs need to be able to pivot quickly," he notes, reflecting the findings from HLB's survey, which revealed that 79% of leaders see economic uncertainty as a top risk to growth.

For Donzelli, agility is not just about responding to change—it's about anticipating it. "The companies that thrive are the ones that can predict and prepare for change, not just react to it when it happens," he says. Flexibility in business models, coupled with the ability to quickly adapt, will be critical as entrepreneurs navigate unforeseen challenges.

Building a culture of innovation is crucial for sustaining agility, Donzelli argues. "Innovation isn't just about new products. It's about fostering a mindset that is open to experimentation, learning, and adapting to market shifts."

International Expansion: Local Knowledge is Key
For entrepreneurs considering international expansion, Donzelli emphasizes the need to understand local markets thoroughly. "For entrepreneurs considering international expansion, understanding local markets and building trusted relationships are paramount," he advises. Entering new markets requires more than just a good product—it demands cultural awareness and compliance with local regulations.

"It's crucial to work closely with local experts who can guide businesses through the complexities of new markets," Donzelli explains. He further underscores that success in international expansion hinges on navigating these challenges effectively. "Ensuring compliance with local regulations and cultural nuances will also bolster successful expansion strategies."

HLB's global network can provide valuable support, Donzelli notes. "Leveraging HLB's global network can provide invaluable support and insights for navigating international growth," he concludes, urging entrepreneurs to tap into resources that can help them thrive in global markets.

Data Interpretation: The Skill of the Future
As businesses become increasingly data-driven, Donzelli highlights a skill that will be essential for entrepreneurs in the coming decade: the ability to interpret and act on data. "In the coming decade, the ability to effectively manage and interpret data will become an essential skill for entrepreneurs," he says. This skill is crucial as entrepreneurs navigate the vast amounts of data generated by modern business operations.

Donzelli emphasises that data analysis goes beyond just crunching numbers. "Understanding data is not just about numbers; it's about deriving actionable insights that can inform strategy and drive innovation." He suggests that those who can master this skill will gain a competitive edge in a world where data-driven decision-making is the norm.

Preparing for the Future of Business
Looking ahead, Donzelli offers a roadmap for entrepreneurs to succeed in the rapidly changing business landscape. " One trend that stands out is innovation, which is playing an increasingly critical role in shaping business strategies," he says, offering a vision for entrepreneurs who invest in cutting-edge technologies, such as artificial intelligence, machine learning, and blockchain, can drive significant growth and maintain a competitive advantage.

He goes on to say that prioritising people—employees and customers—is crucial. Companies that create inclusive, supportive workplaces with flexibility and mental health support boost productivity and loyalty. Similarly, personalising client experiences enhances satisfaction and retention, making it key to business growth.

As Donzelli concludes, "By marrying innovation with a people-centric approach, entrepreneurs can create resilient business models that are well-equipped to thrive in an increasingly interconnected and challenging global market."