The launch of TikTok Shop led to significant sales growth for small and medium-sized businesses, such as Michelle Silva’s Kali Rose Boutique which is mentioned in this CBS News piece. The potential ban of TikTok in the United States poses a threat to these businesses’ revenue streams and could lead to layoffs and economic consequences, prompting concerns among business owners and experts about the impact on the digital ecosystem and economy.
FemTech is a rapidly growing sector encompassing technology-enabled solutions for women’s health which usually includes maternal health, menstrual health, pelvic and sexual health, fertility, menopause, and contraception, as well as a number of general health conditions that affect women disproportionately or differently (such as osteoporosis or cardiovascular disease). The article posted by McKinsey explores FemTech’s recent growth, market opportunities, and potential to address unmet needs. With over 70% of FemTech companies having female founders, the field is seen as a disruptive force in healthcare, offering innovative solutions to improve care delivery, enable self-care, enhance diagnoses, and address stigmatized areas, with the potential to catalyze positive social changes.
According to this piece posted by the US Chamber of Commerce, small businesses are expected to undergo significant changes in 2024. The adoption of artificial intelligence (AI) is anticipated to grow rapidly, with applications in marketing, HR, customer service, and logistics, providing efficiency and productivity gains.
Augmented reality (AR) and virtual reality (VR) are predicted to be leveraged by businesses, especially in retail, real estate, and hospitality, to create immersive customer experiences.
Remote operations are expected to become the norm for many small businesses, allowing access to a global talent pool and reducing overhead costs.
Finally, customers are expected to take greater control of their journeys, requiring businesses to provide more personalized and educational experiences. Check out the link above to read more!
According to this recent article in Inc., while most small business have websites, many small business owners don’t realize that business websites need to comply with the Americans with Disabilities Act. With a rise in lawsuits against companies for failure to comply, it is in every small business owner’s best interest to understand the rules. Read the article to learn more!
Even if you are a small business, you can still be thinking about ways in which you can reduce your environmental impact. This article posted in Entrepreneur shares 8 items to consider when determining practical ways to reduce your company’s impact on the planet. From energy efficiency in the office to flex scheduling to rethinking the office supplies you purchase, every change we make helps to make a difference.
This article in Forbes discusses the impact of Artificial Intelligence (AI) on small businesses and how AI can yield potential benefits. Specific areas where AI can be applied include analysis, customer care, marketing, operational efficiency, and recommendation algorithms. The article emphasizes the need for careful consideration before integrating AI, taking into account company size, resources, and operational goals. It also highlights steps for small businesses to follow, including defining goals, assessing tasks suitable for AI, conducting cost-benefit analysis, and tracking progress. Take a look at the piece and consider how AI can help you work smarter and not harder!
Srishti Mendhekar and Priyansha Mishra are the founders of On Her Way, a platform that connects women travelers to a local woman who can help them awareness about safe spaces and general information about the area. “Women have needs and issues, which can be broadly categorized into safety and hygiene, and no one is solving that. The current travel ecosystem is made by men for men. We want to change that,” says Srishti. Read more by accessing an article about how they founded their startup in YourStory.com.
Led by ocean advocate and skipper Emily Penn and founded in 2014, the nonprofit organization eXXpedition strives to shift the way people feel, think and act by building a global network of multidisciplinary women who can contribute to world-class scientific studies, explore solutions, and use their unique skill sets to tackle the problem from all angles. eXXpedition has been on a mission to “make the unseen, seen”—the unseen being women in sailing and science, the plastics and toxins polluting our oceans, and the diverse solutions to the problem. Read more about their work in this Upworthy article.
In October 2020, Raven Hernandez decided to launch an eco-friendly rideshare service in Nashville that uses only electric vehicles (EVs). Earth Rides has grown quickly. In 2021, the company moved more than 180,000 passengers, offsetting 230 million grams of carbon. Hernandez’s company has since expanded from Nashville to Austin, Texas, too, and now has some 100 employees. Read more about her story in this article in Marie Claire.
Dr. Jennifer Doudna, who is a professor at the University of California-Berkeley as well as a 2020 Nobel prize winner for her pioneering work in CRISPR gene editing, has recently launched a program entitled “Women in Enterprising Science” (WIES). The goal of the program is to enhance gender equity in bio-entrepreneurship. The program seeks to achieve this by offering scientific entrepreneurs the opportunity to receive up to $1 million of funding to create and grow new ventures around promising genomic and emerging biotechnologies. To learn more about this initiative, read this article in Genetic Engineering and Biotechnology News.