2014 is another business year to look forward to. Like every fiscal year, next year offers businesses another chance to grow and perhaps expand. While there were some economic setbacks in 2013, that shouldn't discourage business owners from making the most of next year. Some trends in the procurement industry are also expected to continue from the previous year. Procurement trends will likely be the same, except for new additions resulting from those incidents that happened in 2013. Forecasting trends is necessary for any business or industry, regardless of whether the business looks good or bad. After all, it gives entrepreneurs the methods and time to think about whether they can adopt the trend for the betterment of their business. So, sit back and read what the business trends of 2014.1 are. Technology is here to stay. Technology has been a positive tool for business growth. Now it has become an integral part of doing business. More and more companies are focusing on online presence and marketing to reach their target audience. The use of SEO and social networks is growing and not slowing down. Additionally, customers are increasingly using devices and the latest technology to obtain information, products and services. Technology is also one of the 2014 procurement trends. Many companies will continue to use e-procurement systems to make processes and activities more streamlined and less complicated. Furthermore, communication via online platforms will continue, especially for companies or institutions that purchase from many companies or countries. Competition between procurement systems may become more intense and prices may increase.2. Outsourcing. In recent years, many companies, small and large, have resorted to outsourcing to reduce business… half the paper… customers are empowered to do something for the company apart from monetary compensation. Using customers for other means, such as financing, has begun to take root in many industries. There are many businesses that have difficulty obtaining loans and other necessary financing. The traditional way is to ask for money from financial institutions, but getting money from them also seems to lose its charm. There are many companies now asking for capital from their customers. This feat is made easier with crowdfunding, where anyone can invest in any business they want. Crowdfunding offers flexibility and, often, lower costs for businesses. Furthermore, customers feel that they have something worthy for the company. It is expected that companies will pick up on this trend and, for others who are already using it, will expand their use of crowdfunding.