Doing Buisness in the Future

What will doing business in the future look like? The importance of planning for resource scarcity.

Not infrequently do economists look into the future to prepare for upcoming challenges. One of those being global resource scarcity makes us wonder what doing business in the future will look like.

The Global Circularity Gap Report 2023 has found that throughout the past six years alone we have used up more resources than in the entire 20th century with half of the global GDP being dependent on natural resources. This wouldn’t be a problem if these were unlimited. But because this is certainly not the case one can assess businesses’ dependence on natural resources as problematic, when taking a look into the future of companies, the world economy, and everyday life.

Throughout the last year, we have seen in the example of the war in Ukraine that scarcity of resources has tremendous effects on the world economy, especially in such an interconnected globalized world as ours. So, what can each company do to become independent from these structures?

The resource scarcity also provides incentives for start-ups and research institutions to develop innovative technologies to help businesses reuse, save and recycle raw materials. Investing in technologies with this purpose can help rethink the way that businesses operate today as they hold the power to initiate new methods for the future to retain a stable economy and environment.