Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

The Greatest Business Opportunity of 2022

27 Jun 2022 · 1 min

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Mike Andes (video) predicts that many small businesses will fail during 2022–2024 due to inflation, rising wages, and a tight labor market, causing widespread closures. He estimates a large shakeout—"wipe out 40–50%" of competitors—creating an opportunity for surviving businesses to capture market share and grow when the economy rebounds.

Questions this video answers

2022, 2023 and 2024.

40–50% (speaker's estimate).

June 27, 2022.

Chapters

My prediction is that during 2022, 2023 and 2024, a lot of small businesses are going to go extinct because of inflation, because wages going up, because the labor market is so hard to find employees. And we are literally, if you look at the recent jobs report, massive amounts of layoffs and jobs being lost in the small business sector, I feel like over the next three years we're going to see massive amounts of closures and businesses just going out of business. Now this is a massive opportunity. In my mind, this is going to clear the deck. It's going to wipe out 40, 50% of. So instead of having 40 people in your local market that are ranking on Google for your service or product that you sell, that's going to shrink down to 10 or 15 over the next few years. So what that's going to mean is when the economy rebounds, when we get out of this recessionary time, we're going to see a massive boom. To the survivors. The people who are able to suck up market share were able to hire people and actually expand their footprint during these months and years when there's a recessionary time and people are going out of business. That's why.