In addition to grants, financial assistance, loans, technical assistance, and other initiatives can also positively impact businesses and communities.
Loans can help businesses grow and create jobs. They can also provide access to capital for businesses that may not be able to qualify for traditional bank loans. Technical assistance can help businesses improve their operations, marketing, and financial management. It can also help businesses comply with regulations. Other initiatives, such as training programs and mentorships, can help businesses develop the skills and knowledge they need to succeed.
So make sure to also lookout for these programs to help your small business.
Small business grants are a popular way to support local economies but are not the only option. Loans, technical assistance, and other initiatives can also make a positive impact. This week, several local groups and government organizations launched programs to support small businesses in their communities.
Small Business News August 11, 2023
Related to the security of your small business, this week’s round-up includes a warning from The Security Summit about why owners offering tax-related services must be increasingly vigilant against evolving phishing scams and cloud-based attacks that aim to steal sensitive client information.
For that and more, here is the rest of this week’s roundup:
New Features Aimed at Enhancing YouTube Short-Form Video Creativity
YouTube’s recent announcement about their new creation tools for “Shorts” could offer small businesses fresh avenues to engage their audiences. YouTube originally introduced “Shorts” as a playful method for creators to produce and disseminate short-form videos.
AT&T is First to Test RedCap Data Connection for IoT Devices
Small business owners using or considering IoT solutions should take note of AT&T’s recent advancement. The company recently achieved a U.S. industry first: successfully testing the 5G Reduced Capability (RedCap) data call, setting the stage for a new generation of 5G IoT devices.
American Express Sync Program to Streamline B2B Payments
American Express announced the launch of its Sync Commercial Partner Program, a new suite of business-to-business (B2B) Application Programming Interfaces (APIs) designed to empower fintech and software providers. The move comes as a response to a booming embedded B2B payments industry, which hit a transaction value of $700 billion in the U.S.
AudioCraft: An AI Tool Revolutionizing Audio and Music Generation
AudioCraft is a generative AI tool that redefines the boundaries of audio and music creation. This advanced tool, which has implications for a range of applications, from Instagram ad soundtracks to professional music compositions, generates high-quality, realistic audio based on text prompts. AudioCraft is a triad of AI models: MusicGen, AudioGen, and EnCodec.
Small Businesses Highlight Jobs Gain in July
Small businesses are the “highlight and standout” of the nation’s 324,000 jobs gain during July, according to Nela Richardson, Chief Economist for ADP. Small businesses added 237,000 jobs. In businesses with 1-19 employees, job gains were 114,000; in businesses for 20-49 employees, job gains were 123,000.
Builder Confidence Continues to Rise Despite Pinch of Rising Mortgage Rates
Realtors will tell you: The available inventory of existing homes hitting the market is low. Builders will tell you: That’s one of the reasons the demand for new homes is high. Realtors and Builders will tell you: We are wrestling with rising mortgage rates.
Zoom Introduces “Zoom Clips” in Beta
With remote work and collaboration tools becoming more vital than ever, Zoom has unveiled its latest feature, Zoom Clips, in beta for global users. This innovative tool aims to redefine asynchronous communication, allowing users to seamlessly record, edit, and share high-quality short-form video messages.
PayPal Launches U.S. Dollar Stablecoin, PYUSD
PayPal (NASDAQ: PYPL) just launched its new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), marking a significant stride in aligning traditional financial operations with emerging digital trends. This move could have wide-ranging implications for small business owners seeking more agile and adaptable payment options. The PYUSD is entirely backed by U.S. dollar deposits, short-term U.S.
Tax Professionals Warn toStay Vigilant Against Phishing and Cloud-based Attacks
The Security Summit warns that small business owners offering tax-related services must be increasingly vigilant against evolving phishing scams and cloud-based attacks that aim to steal sensitive client information.
T-Mobile Introduces First-Ever 5G Network Slicing Beta for Developers
Telecom giant T-Mobile has launched a 5G network slicing beta program for developers, a breakthrough move set to elevate the performance of video calling applications. The program is a first in the industry and focuses on video calling applications that require consistent upload and download speeds, near-real-time responsiveness, and increased reliability.
For Once, Let’s Talk About the Effect of Religion and Politics on Small Business
I often don’t talk about how religion and politics affect small business, but I thought for once that we needed to with so many issues facing us. This week on The Small Business Radio Show, I discussed how religion and politics are affecting small business with my colleague, Brian Moran. He is dedicated to helping entrepreneurs achieve their objectives and to run better businesses.
South Dakota Small Businesses Eligible for EIDL Loans Amidst Drought Conditions
The U.S. Small Business Administration (SBA) has declared that small nonfarm businesses in 12 South Dakota counties, along with neighboring counties in Iowa and Minnesota, are now eligible to apply for low-interest federal disaster loans. The move aims to offset economic losses incurred due to reduced revenues in the wake of the ongoing drought, which began on June 6.
EIDL Funds Available for Small Businesses in 10 Missouri Counties Affected by Drought
In response to the economic hardships small businesses face due to recent droughts, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans to eligible nonfarm businesses in 10 Missouri counties.
Banks Hike Prime Rates to 8.50% Impacting Small Business Borrowing
Wells Fargo Bank announced increases in their prime lending rates to 8.50 percent, up from 8.25 percent, effective July 27, 2023. The move signals an increasing cost of borrowing for individuals and businesses alike, particularly impacting small businesses reliant on bank financing. With approximately $1.9 trillion in assets, Wells Fargo serves one in three U.S.
American Honda Recalls Portable Generators Over Fire Hazard Concerns
American Honda Motor Co. Inc. has issued a recall of its Honda Portable Generators due to potential fire hazard concerns. The recall announced recently, is vital to small businesses, especially those utilizing portable generators for operational purposes or during power outages. The generators in question carry the model number EU7000is.
New Jersey Tax Preparer Arrested for Alleged Fraudulent Claims of Over $124 Million
A New Jersey tax preparer has been arrested over alleged fraudulent claims for COVID-19-related employment tax credits. Leon Haynes, of Teaneck, New Jersey, allegedly sought over $124 million from the IRS by filing over 1,000 fraudulent tax returns.
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