In the News: Hundreds of Thousands in Grants for Women-Owned and Small Businesses

Another week has passed for small businessmen. And in case you’ve been too busy to notice all the headlines this past week that mattered to people like you, we can take a look back at all the stories you might have missed in our weekly roundup of small business news.

Included this week are scads of new products and tools that can help you with various tasks in your business. And take special note of the hundreds of thousands of dollars made available in grants to women and minority business owners in America.

Let’s take a look at all of this week’s top headlines:

Discover Survey Finds Rising Financial Anxiety Among Americans

A recent survey by Discover Personal Loans reveals that 80% of Americans experience financial anxiety, with 34% reporting moderate or severe anxiety. This trend has remained high for the past three years, increasing by nine percent from 2021. Financial stress is so bad that many Americans avoid looking at their financial situation.

Data Privacy Bills Can Badly Affect Small Niche Businesses

Congress is considering new legislation to protect consumer privacy. But limiting the ability to use certain user data for ad targeting can be harmful to some small businesses. For example, J. Landress Brass is a New York City-based company that manufactures, sells, and repairs brass instruments. Owner Josh Landress uses a lot of online ads targeted at people who play these instruments.

$400,000 in Grants Available to Minority- and Women-Owned Businesses

Small business grant programs come in many forms. Some local governments and organizations provide direct financing to businesses. And others may offer grant funds to support specific programs that provide training or assistance. Several programs in both categories are currently accepting applications. Read about the opportunities below.

Salesforce and Workday Unveil AI Workforce Service Agent to Improve Productivity

Salesforce and Workday announced a strategic partnership to launch a new AI workforce service agent. This partnership aims to simplify functions such as onboarding, health benefits, and career development by combining data from the Salesforce and Workday platforms.

Consumer Spending Slows Summer

Small business sales growth slowed in June as consumers generally spend less in the summer. However, sales are still up compared to this time last year. The data comes from payments service provider Fiserv, which analyzes point-of-sale transaction data from small businesses to track sales trends in its monthly Small Business Index.

SBA Offers Disaster Loans to Missouri Nonprofits After May Storms

The US Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for certain private nonprofit organizations in Missouri. This assistance follows President Biden’s declaration of disasters due to severe storms, high winds, tornadoes and flooding from May 19 to 27.

Bipartisan Bill Introduced to Improve Support for Rural Small Businesses

US Senators Jeanne Shaheen (D-NH) and John Kennedy (R-LA) have introduced legislation called the bipartisan Coordinated Support for Rural Small Businesses Act. This law directs the US Small Business Administration (SBA) to appoint an Assistant Director of its Office of Rural Affairs and formalizes ongoing cooperative efforts between the SBA and the US.

Adobe’s New Illustrator and Photoshop Tools Boost Design Efficiency

Adobe has introduced new features to Illustrator and Photoshop to speed up the creative workflow and give designers more control. These updates include tools powered by Adobe Firefly, an AI assistant designed to support creative professionals.

Xero Reports Small Business Sales Recovery in 2024

Xero’s latest data release shows that small business sales are starting to stabilize in 2024. Despite the decline in the March quarter, sales showed year-on-year improvement, with February marking the first increase in sales in 13 months. However, average payment times have improved slightly, while late payments have worsened, now almost 10 days late.

Canva Report on the Top Must-Have Creative Tools for Business

In today’s competitive marketplace, businesses must embrace creativity to stand out. Creative ideas inspire teams, engage customers, and inspire product innovation, yet not all workplaces encourage this mindset. A partnership between Canva and Harvard Business Review Analytic Services conducted a survey of more than 500 global business leaders.

Airtable Launches Cobuilder for Rapid No-Code App Creation

Airtable has launched Cobuilder, a tool that quickly creates code-free applications. Users describe their needs in words, and Cobuilder generates a customized app in seconds. This approach allows anyone to easily build and customize applications, transforming their work. Modern companies need custom applications to meet their unique business needs.

Upwork Study Reveals Increasing Workloads and Burnout Caused by AI

Upwork Inc. released new research from the Upwork Research Institute that reveals that AI is increasing the workload of full-time workers, hindering productivity, and contributing to burnout. Despite significant investment in AI by business leaders, research shows that many organizations fail to realize the technology’s full productivity potential.

Fiverr Transforms the Recruiting Platform with a Summer 2024 Product Release

Fiverr launched its summer 2024 product release, marking its transition from a service market to a rental space. This release includes deep AI integration with Fiverr Neo, a new professional catalog, a satisfaction guarantee, and a rewards program to meet the changing needs of today’s businesses.

American Airlines Introduces Automated Tags for Mobile Devices

American Airlines has become the first US airline to introduce automated tagging for mobile devices. This innovation is part of the airline’s commitment to improving the management of wheelchairs and mobility devices across its network. Developed by American’s Technology team, the tags are now being used in airports where American and its regional partners operate.

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