Predicting the future is a challenging, but necessary, part of running a functional small business. So what will 2016 hold in store? And how can you look at past trends to make future predictions?

In this episode of Xero In, futurist and innovation strategist Anders Sorman-Nilsson drops by to chat to Rob and JV about the year ahead. By considering past trends, current demographics and ongoing patterns in technology and disruption, Anders discusses a few of the major changes set to rock the small business scene.

“By the end of this decade what you'll see is that 90% of IT budget will be controlled by non-IT business functions,” he predicts. “You're also going to see a lot of small to medium sized businesses going out of business in the next few years as a result of not adopting technology or not adapting. It's simply not a choice if you want to stay in business.”