As many analysts reflect on 2010, a year of innovation seems to emerge as the unifying theme. Despite an economy that dragged its feet toward recovery - and will likely do so through 2011 as well - the year did show a number of encouraging signs.
The year's holiday shopping season broke records and provided convincing indication of improving consumer confidence. Cyber Monday reached a record breaking $1 billion in online sales, while the most recent report from ComScore found holiday shopping totaled $30.8 billion in retail sales, providing a considerable boost to the retail and small business sectors.
Entrepreneurs seeking to form an LLC in New York City are likely excited by the prospects of the city's burgeoning startup scene, which has even provoked giants such as Google and Facebook to swing by and pick up real estate and talent.
But John Babcock, founder of venture capital firm Rustic Canyon Partners, maintains that California's entrepreneurial engine is far from running dry.
"I think the top influencers of 2011 are secretly working on the next great applications of the internet that will drive disruptive new business models," he told SoCalTech.com. "We've seen a lot of innovation come out of Los Angeles in the past few years, with Demand Media, Socialvibe, Zag, ShoeDazzle, Factual and many others. Pay attention to what Los Angeles entrepreneurs are doing, it's going to be an interesting 2011."
Tags : ca, ny, small business management
Posted: Dec 30th, 2010