Month: October 2024

Building Community Support to Shop Local

Faire’s “Main Street Shopping” report (Faire is a leading online wholesale marketplace that connects locally-owned and operated shops with brands to stock their stores) highlights a growing trend: consumers are willing to spend more and travel farther to support local retailers, driven by a strong desire to engage with their communities. The report encourages small businesses to embrace this trend by building a unique, locally-focused shopping experience through curated products, partnerships with nearby businesses, participation in community events, and active social media engagement. You can read more in this piece on the US Chamber of Commerce site.

“Show Her The Money” movie

“Show Her The Money” highlights the struggles and triumphs of female entrepreneurs as they battle for venture capital funding, which women receive less than 2% of, while also demystifying what venture capital is. Featuring successful female investors and visionary entrepreneurs, the film demonstrates how financial backing empowers women to turn innovative ideas into billion-dollar businesses, ultimately reshaping the American economy. See this link to learn about the film.

Verizon Survey Shows Doubling in AI Adoption Among Small Businesses

Verizon Business’s fifth annual State of Small Business Survey, conducted with Morning Consult, highlights a notable increase in AI adoption among small and midsize businesses (SMBs), driven by growing awareness and accessibility. The survey found that AI usage has more than doubled in the past year, with 39% of SMBs now utilizing AI tools to streamline tasks and improve efficiency—up from just 14% in 2023. This increase reflects the perception among SMBs that AI can significantly enhance business operations, although it also raises new security concerns. Despite financial anxieties, SMBs are investing in AI, faster internet, and digital solutions, underscoring a strong commitment to technology as they adapt to changing consumer demands.

2024 Bank of America Women & Minority Business Owner Spotlight

The 2024 Bank of America Women & Minority Business Owner Spotlight reveals that 78% of small and mid-sized business owners anticipate revenue growth over the next year, with high levels of confidence among Hispanic-Latino, Black/African American, and AAPI entrepreneurs. Many business owners, especially women, plan to expand, hire, and invest in employee development, though concerns about inflation, labor shortages, and the political environment remain top challenges.

Celebrating Latina-run Businesses

This article in Hispanic Executive highlights ten Latina-owned businesses that are revolutionizing their respective industries, from beauty and fashion to coffee and children’s literature. Despite facing significant gender and racial barriers, these Latina entrepreneurs are breaking new ground with innovative products, ethical practices, and a commitment to cultural representation, inspiring future leaders in the business world.