News (2425)
Customers Influenced by Online Reviews
Online reviews matter, reports the Huffington Post. According to a survey 90 percent of those responding report being influenced by an online review. Your small business should devote time to managing your online reputation by responding to bad reviews and managing your social media accounts.
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New Card Readers Burden Small Business
According to Fox Business, the new mandate requiring business switch to chip and pin card readers will cost small businesses. While the actual cost to switch processing systems varies, it averages between a few hundred dollar up to thousands of dollars. Small businesses are most likely to pay more because they typically don’t qualify for any volume discounts and they often lack the technical staff to set the equipment up, so they have to pay someone to do it.
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Online Business Lender Gets More Funding
Online small business lender Bond Street announces a new round of funding, reports Forbes. The company recently raised $110 million dollars in venture capital funding, of which, they will use $100 million to finance loans for small businesses.
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Qualified Workers Scarce
Small businesses are finding it difficult to find skilled employees, reports the Guardian. According to a new survey by the National Federation of Independent Business, 80 percent of small business who were hiring reported finding little to no qualified applicants for their open positions.
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Should Small Businesses Adopt Wearable Technology?
As the interest of wearable technologies by consumers continues to grow, small business owners are beginning to collect data that can uncover how they can leverage these platforms in order to support their brand's products and services.
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Small Business Administration Boosts Access to Services
Administrators and campus and deaf and hard of hearing community leaders to announce a new initiative to boost access to SBA services for deaf and hard of hearing entrepreneurs. Using videophone technology, the agency will have staff fluent in American Sign Language (ASL) available to provide a direct connection to services available to help small business owners start and grow their ventures.
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New program Seeks to Bring Funding to Small Businesses
A new lending program by Opportunity Fund and the Lending Club seeks to increase funding available to underserved small businesses in California, reports NerdWallet. The program seeks to bring over $10 million in funding to businesses in the target areas.
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Fast Growing Small Business Industries
A new survey by Sageworks finds that trucking companies and building contractors are two of the fastest growing industries for small business. In addition, janitorial and pest control are also growing small business industries.
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Small Business Needs to Switch to Chip and Pin Tech
According to the Street, despite warnings that they must switch to chip and pin technology by October, but many small businesses have yet to do so. Failure to do so will result in a liability shift, if a company fails to change over to the chip and pin technology the credit card companies will no longer cover the expense in case of fraudulent activity.
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Small Business and Mobile App Spending Increase
Fifteen percent of small businesses have a mobile app, and another 18 percent are considering developing one in 2015 or later, according to a survey conducted by Clutch , the leading source of mobile app developer reviews. However, some have yet to be convinced, as 40 percent of respondents said they are unlikely to have a mobile app in the future.
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