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Bipartisan Legislation to Help Small Businesses Adopt Digital Tools

U.S. Senators Todd Young (R-Ind.), Jacky Rosen (D-Nev.), Ted Budd (R-N.C.), and Jeanne Shaheen (D-N.H.) introduced bipartisan legislation to help small business owners integrate digital tools into their businesses. The Small Business Technological Advancement Act would clarify that small businesses can utilize the Small Business Administration’s (SBA) 7(a) loan program to finance technology that supports daily operations, including inventory management, product delivery, and accounting systems. The bill is meant to mitigate the economic barriers associated with the adoption of digital tools by small businesses.

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Inaugural Small Business Human Resources Benchmark Report

Asure Software, Inc. (NASDAQ:ASUR) recently released its inaugural Small Business Human Resource Benchmark Report, which surveyed 2,065 "fast growth" companies to determine the link between rapid growth and employee-centric best practices. The survey highlighted the clear link between these "fast growth" companies and their embrace of every stage of the employee lifecycle and how applying the best HR practices across each respective area helps to foster growth. More than 80% of responding companies stated they applied the HR best practices across the employee lifecycle of recruiting, hiring, onboarding, compliance, development, performance management, retention, and post-employment. Overall growth between "fast growth" companies and "down year" respondents provided a clear indication that the people aspect of a business is important to your company's overall growth.

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Small Business Accounting Software Market to Reach New Heights by 2030

The latest report published by Global Market Vision, titled ‘Small Business Accounting Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030,’ offers a comprehensive analysis of the industry, which comprises insights on the Small Business Accounting Software market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. It highlights the latest trends in revenue and Market progress, and all realistic statistics on ventures. It provides prevention and pre-planned management and highlights a summary of the global Small Business Accounting Software, along with classification, definition, and Market chain structure. Global Small Business Accounting Software, including gross margin, cost, Market share, capacity utilization, income, capacity, and supply. It also highlights the future scope of the global Small Business Accounting Software during the upcoming period.

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Fed Tech for Small Businesses

TechLink is an innovative solution for entrepreneurs and businesses seeking to harness the power of technology. By enabling JavaScript, one gains access to a range of functionalities that can revolutionize their operations. With the ability to run commands such as npm start or yarn start, developers can kickstart their development process. Additionally, creating a production bundle is seamless with commands like npm run build or yarn build. TechLink empowers users to leverage technology for enhanced productivity and growth.

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Navy Connects Small Business

The Department of the Navy has established 15 tech bridges across different locations with the aim of connecting small businesses with innovative solutions to meet the Navy's needs. These physical locations outside of the bases work as connectors between local businesses and the Navy, facilitating conversations and collaborations to develop technological advancements. The Navy's Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs provide opportunities for small companies to develop and commercialize their technologies while benefiting the Navy.

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Trends in Small Business Tech

In 2023, small businesses will need to embrace technology to stay competitive and scale effectively. Some key tech trends for small businesses include applied AI and machine learning, edge computing and distributed infrastructure, hyperautomation and super apps, hybrid work engagement and retention, clean energy and sustainable tech, metaverse and virtual reality, zero-trust cybersecurity and architecture, datafication and analytics, cloud-based solutions, and embedded finance. By understanding and adopting these trends, small businesses can enhance productivity, streamline processes, improve customer experiences, and ensure long-term growth.

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U.S. Supreme Court Decision Upholds Small Businesses' Right to Arbitration

The U.S. Supreme Court recently ruled in favor of small business owners' rights to favor arbitration over costly litigation in their disputes. The decision, handed down in the case of Coinbase Inc. v. Abraham Bielski, affirms that arbitration can be a preferable alternative to litigation. The ruling serves to safeguard small business owners' rights to arbitration, while also protecting their right to appeal a district court's decision. This article was published by Small Business Trends on July 5, 2023. 

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Small Businesses Take Stand Against Federal Minimum Wage Increase

The National Federation of Independent Business (NFIB) has filed an amicus brief in the State of Nebraska et al. v. Martin Walsh, a case currently being heard at the U.S. Court of Appeals for the Ninth Circuit. The case is asking whether the Department of Labor's (DOL) decision to raise the minimum wage for federal contractors is in line with the power granted by Congress under the Federal Property and Administrative Services Act. Nebraska and 20 other states are arguing that the DOL's rule exceeds the authority granted by Congress. This move could potentially bear significant implications for small businesses nationwide. 

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NFIB Advocates for Small Businesses in Hearing on Tax Policies

The National Federation of Independent Business (NFIB) voiced its concerns about the future of small business taxes during a hearing held by the U.S. House Budget Committee. Kevin Kuhlman, NFIB Vice President of Federal Government Relations, argued that unless Congress takes action to extend the beneficial tax provisions from the Tax Cuts and Jobs Act (TCJA) of 2017, small businesses will face a substantial tax increase. Most of these provisions are set to expire at the end of 2025.

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Concerns Over New Energy Dept. Rule Impacting Small Business

Congressman Roger Williams (R-TX), Chairman of the House Committee on Small Business, and Vice Chairman Blaine Luetkemeyer (R-MO), issued a statement expressing concerns over a new regulation from the U.S. Department of Energy. The congressmen contend this new rule could potentially burden small businesses, stifle innovation, and increase operating costs. Chairman Williams has been vocal about the adverse impacts of what he views as over-regulation on small businesses.

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