In the News: Don’t Miss a $35,000 Grant Opportunity

Grants can help small business owners grow and sustain their operations. These funds provide financial support for a range of needs, such as purchasing equipment, expanding facilities, or hiring staff. Grants can help cover costs associated with marketing, research, and development, enabling businesses to innovate and stay competitive.

Grants also reduce financial strain, allowing business owners to focus on strategic growth and long-term planning. By leveraging grants, small businesses can enhance their stability, boost profitability, and ensure continued success in their market.

• NAACP, HoneyBook, and More Launch Small Business Grant Programs

Small business grants can come from a huge variety of sources: nonprofit organizations, corporations, cities, business groups, and more. There are currently grant opportunities available within the U.S. from all of these groups.

Small Business News June 28, 2024

This week’s roundup starts with the NFIB expressing its disappointment in the Supreme Court’s decision to broaden the definition of “income” under the Sixteenth Amendment to include unrealized appreciation of property. The NFIB is also in the news on another matter opposing the U.S. House of Representatives regarding H.R. 8639, the Warehouse Worker Protection Act. The NFIB warns that this legislation would result in increased costs, burdensome mandates, and additional red tape for small businesses. For these and other small business news here is the rest of the weekly roundup.

NFIB Opposes Warehouse Worker Protection Act, Citing Harmful Impact on Small Businesses

The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, has sent a letter of opposition to the U.S. House of Representatives regarding H.R. 8639, the Warehouse Worker Protection Act. The NFIB warns that this legislation would result in increased costs, burdensome mandates, and additional red tape for small businesses.

Supreme Court Decision in Moore v. U.S. Harms Small Businesses with Expanded Taxing Power

The National Federation of Independent Business (NFIB) has expressed significant disappointment with the U.S. Supreme Court’s decision in the case of Moore v. United States. This ruling upheld the Ninth Circuit’s decision, which broadened the definition of “income” under the Sixteenth Amendment to include unrealized appreciation of property.

Florida Fisherman Pleads Guilty to Tax Evasion on Massachusetts Income

A Florida fisherman has pleaded guilty to evading taxes on income he earned while working in Massachusetts. Christopher Garraty, from New Port Richey, admitted to evading over $400,000 in taxes on income he earned as a commercial fisherman and deckhand for companies based in New Bedford, Massachusetts.

Pinterest Launches Board Sharing Feature for Seamless Social Media Integration

Whether showcasing dream home decor or an ultimate travel bucket list, the new board-sharing feature allows users to effortlessly share dynamic videos of their favorite Pinterest boards on other social platforms. With board sharing, Pinterest streamlines the process of sharing Pinned content and enables users to include a link for others to explore their entire board on the platform.

Wix Studio Introduces Figma Plugin for Seamless Design-to-Web Transition

Wix.com Ltd. has announced the launch of a new plugin that allows professionals to export their Figma designs directly into the Wix Studio platform. This new tool, named the Figma to Wix Studio plugin, simplifies the process of transforming design concepts into functional, interactive websites.

Annual Lemonade Stand Event Fosters Entrepreneurial Skills for Kids

A business support organization in Texas is helping local youth build entrepreneurial skills by hosting their own lemonade stands. The initiative, supported by the United Corpus Christi Chamber of Commerce Foundation, culminated in a recent event, the 12th Annual Lemonade Day Coastal Bend 2024.

Target, Shopify Partnership Could Benefit Small Businesses

Target and Shopify just announced a new partnership that may benefit some small businesses. This partnership will allow Target to source and onboard new online sellers from Shopify into its Target+ platform, an online marketplace for third-party products. Target hopes the deal will help draw more customers to its online marketplace with unique products.

Amazon’s 10th Prime Day Event: Exclusive Deals for Prime Members on July 16 & 17

Amazon announced customers can save big this summer during its 10th Prime Day event. From July 16 at 12:01 a.m. PDT through July 17. Prime members get exclusive access to millions of deals across more than 35 categories including electronics, kitchen, beauty, and apparel.

Small Businesses Racking Up Credit Card Debt to Combat Inflation Pressures

Small business credit card debt is on the rise. And it’s likely due – at least in part – to inflation. According to data from Bank of America Institute, small business credit card balances are up 18 percent since 2019. Small businesses reach for credit cards for many reasons. But in 2024, the main factor putting financial pressure on businesses seems to be inflation.

Portland Asking Local Businesses to Chip in for Community Improvements

Portland, Oregon, is trying to improve the Cathedral Park neighborhood in north Portland. But they’re asking local businesses to chip in for infrastructure improvements. The neighborhood, which currently features many potholes, broken sidewalks, and other aesthetic issues, is being designated as a Local Improvement District.

How This Couple Turned a Flea Market Stand into Upscale Las Vegas Store

Opening an upscale boutique on the Las Vegas Strip might seem like a lofty goal for many new entrepreneurs. But for those who start small and do their research, it is possible to reach lofty goals like this. This was the case for Richard Clark and Clare Skinner, a couple who started their small business journey by selling at local flea markets in Jacksonville, Florida.

Small Businesses Gear Up to Serve Customers Through Heat Waves

Heat waves often lead to lower activity for small businesses. But for companies that help customers stay cool, from frozen treat stands to AC repair services, heightened temperatures create a frenzy of activity. So, these businesses need to keep an eye on the forecast and prepare their teams for these periods.

Escalating Fraud Attempts Can Lead to Permanent Losses for Small Businesses

An increased number of small businesses are falling victim to fraud. And as two Sarasota, Florida entrepreneurs recently learned, this can lead to permanent losses that are often difficult to recover from. Joyce and Stan Fox, who run a home-based promotional products company, lost $10,000 from their business account due to fraud this year.

Minneapolis Businesses Concerned About Potential One-Size-Fits-All Labor Rules

The city of Minneapolis is considering creating a new labor standards board to provide recommendations about potential regulations. Proponents say that the board would create more labor-friendly policies to support the local workforce. But many small businesses in the city argue that increased regulations would stifle their businesses.

Verizon Business Launches Complete Smartphone Management Solution for Enterprises

Verizon Business has unveiled a new end-to-end smartphone management solution for midsize businesses and enterprises. This solution, Verizon Business Complete, is unique in the U.S. market for offering comprehensive smartphone management, including shipping, setup, replacement, and recycling, all for a predictable monthly price.

Child Care Shortages Negatively Impacting Small Businesses

Small businesses across the U.S. are struggling to maintain productive teams due to lack of childcare options, according to a recent survey. This finding comes from Goldman Sachs 10,000 Small Business Voices, a nationwide survey of more than 1,200 small business owners.

Small Businesses Taking Proactive Steps to Prevent Cyber Attacks

An increasing variety of cyber attacks are negatively impacting small businesses. So, it’s often necessary for teams to take proactive steps to protect their data. According to recent data from Accenture, 43 percent of cyberattacks target small businesses.

How Gary Kusin Founded GameStop and the First Meme Stock

I remember when my kids were growing up, my youngest son Daniel visited GameStop the day it opened up near our home. He said that now since we were so close to GameStop, our home would be more valuable. I am not sure about that but certainly GameStop has had a big effect on the gaming industry and the stock market.

IRS Announces 2024 Tax Forum Seminars

The IRS has announced the agenda for the 2024 Nationwide Tax Forum, which will offer 45 seminars to help tax professionals serve their clients better. These sessions will cover a wide range of topics, including tax law updates, managing client examinations, digital assets, the Secure Act 2.0, Employee Retention Credit, and clean energy credits.

SBA Provides Disaster Assistance to Louisiana Following Severe Weather

The U.S. Small Business Administration (SBA) has announced low-interest federal disaster loans for Louisiana businesses and residents affected by the severe weather and tornado that struck on May 13. This announcement was made by Administrator Isabella Casillas Guzman, highlighting the SBA’s swift response to the request from Governor Landry received on June 13.

TikTok Showcases Creative Bravery at Cannes Lions Festival

TikTok is taking the spotlight at this year’s Cannes Lions International Festival of Creativity, championing “Creative Bravery” and showcasing how brands can boost their marketing efforts through innovative and daring creative strategies. This new approach highlights the importance of creative freedom and experimentation in modern marketing.

Snap Unveils GenAI-Powered AR Experiences and Tools in Lens Studio 5.0

Snap is introducing new AR experiences powered by GenAI for Snapchatters and the AR developer community. This innovation marks a significant advancement in real-time image modeling, bringing users’ imaginations to life instantly through augmented reality.

SBA Offers Disaster Loans to Mississippi Businesses and Residents

The U.S. Small Business Administration (SBA) has announced that low-interest disaster loans are now available to businesses and residents in Mississippi affected by the severe storms and tornadoes from April 8-11. This follows a Presidential disaster declaration.

Apple Unveils New Features for Services This Fall

Apple is rolling out new features for its services this fall with the release of iOS 18, iPadOS 18, macOS Sequoia, watchOS 11, visionOS 2, and tvOS 18. Users can explore hikes in Apple Maps, redeem rewards and access installments with Apple Pay, enjoy a redesigned Apple Fitness+ experience, and more. These updates add new functionalities to popular Apple services.