PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

AI Powers Small Biz

AI Powers Small Business:
$273.5 Billion Saved Annually

●75% of small businesses are utilizing AI tools for an expansive range of functions
●Nearly half (48%) of small businesses started using AI tools in the past year
●93% of business owners report that AI tools offer cost-effective solutions that drive savings and improve profitability
●83% of small business owners plan to invest more in AI over the next 12 months
●85% of small businesses agree that the government must balance AI regulation and innovation

Read more about the AI tools small business owners are using and the BIG benefits here.

Check-Up Survey

Small Business ‘CHECK UP’ Survey Q3

● 61% of small business owners believe economic conditions will deteriorate for the remainder of 2023. 52% report that revenues have not kept pace with inflation.
● 49% say the lack of credit or access to capital is impeding business operations and growth.
● 48% of small business owners report that labor shortages and limited access to skilled labor are hampering operating capacity.
● Amazon small business sellers express alarm about possible FTC action to break up company: Nearly 80% expect harmful effects.

Read more results about current business conditions, outlook for profitability, and how President Biden scores on top issues here.

TechnoMetrica Survey

SURVEY: Immersive Technologies, Innovation and Small Business

● Only 5% of small business owners fear that immersive technology and the metaverse will put them out of business. Most are excited about their applications for business growth.
● 93% use cloud services, and 97% express satisfaction with their service providers.
● R&D expensing is prevalent and if not restored, 35% will need to borrow funds to pay higher tax bills, 19% say their firm may go out of business.

Read more on small business and the metaverse, R&D expensing, and their views on cloud services here.

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A collaborative partnership of organizations sharing knowledge and intelligence about the use, potential, and convergence of Web3 technologies.

Energy Production

Pandemic Startups

Pandemic Startups: Their Motivation, Outlook, Top Issues of Concern, and More

- New entrepreneurs were driven “to be their own boss” and “to have more flexibility and control of their time.”

- 37% started their business due to an opportunity, 9% out of necessity, and 45% said it was a combination of the two.

- Tech tools and e-payments were key to their launch.

- Top issues? Inflation, taxes, interest rates, supply chain issues, access to capital, affordable health coverage, and the labor shortage.

Read the full survey results.

Manufacturing PMI Points to Recession

The Value of Electronic

Payments for

Small Business Owners

Growth Without Barriers

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Small Business Insider

UPDATE: IRS Delays $600 1099-K Reporting Threshold, CTA Reporting for Small Biz Still a Go in 2024

November 30, 2023

One Down, Another Must Go: IRS Delays $600 1099-K Reporting Threshold for 2023 ($5,000 threshold established), New CTA “Beneficial Ownership” Reporting MUST be Next by Karen Kerrigan – 1099-K Reporting Threshold Delayed On November 21, the IRS announced that it will once again delay implementation of the lower threshold for 1099-K reporting, which dropped from […]

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POLICY ROUNDUP: Regulatory Overreach and Response, Capitol Hill Oversight and More

November 28, 2023

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Thank Small Business by Shopping Small Business

November 22, 2023

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News and Media Releases

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Manufacturing PMI Points to Recession

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November 30, 2023

Economic Snapshot: Revised GDP and a Bleak Beige Book

November 28, 2023

Consumer Confidence Up Slightly, But Recession Fears Persist

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