In this latest episode of Small Business Breakdown, our panel of experts discusses the trend among some social media users to ditch their X accounts in favor of bluer skies…pun intended.
See what our panel thinks about the rush to join Bluesky and how they believe small business owners, no matter why users decide to join one platform or another, should go where their customers interact.
Check out this full discussion and all the other topics our panel discusses ahead of the Thanksgiving holiday in this episode of Small Business Breakdown.
Small Business News
Here are the rest of the important headlines for small business owners from the past week:
75% of microbusiness owners relaunch after setbacks
Microbusiness owners are demonstrating their resilience: 75% are relaunching new businesses after setbacks, according to GoDaddy’s annual Venture Forward 2024 report. Despite economic uncertainty, these entrepreneurs persist: 39% of new ventures become the main source of income for their households.
Wix Launches AI-Powered Visual Sitemap and Wireframe Builder for Agencies
Wix has introduced a new AI-powered visual sitemap and wireframe generation tool for Wix Studio, designed to streamline the website planning and creation process for agencies and businesses. The tool allows users to accelerate site planning by generating dynamic visual sitemaps and custom wireframes, helping agencies plan, structure, and build websites efficiently.
Lucihub Launches Creative Copilot AI Platform and Voiceover Studio to Revolutionize Video Production
Lucihub, an award-winning AI-powered video production platform, has unveiled its latest advancements designed to streamline video production and improve global collaboration.
North Carolina auto company owner sentenced for failing to pay more than $2 million in employment taxes
A North Carolina man was sentenced today to one year and one day in prison for failing to pay more than $2 million in employment taxes, causing significant tax losses to the IRS. According to court documents and statements made in court, George Taylor Jr., of Wilmington, North Carolina, owned and operated National Speed, a high-performance automotive service company.
IRS announces interest rate decrease for the first quarter of 2025
The Internal Revenue Service (IRS) announced today this week that interest rates will decrease for the calendar quarter beginning January 1, 2025. The revised rates, which apply to overpayments and underpayments, are the following: 7% for overpayments (payments that exceed the amount owed) for individuals and 6% for corporations. 4.
From Cults to Culture: Four Ways to Develop Cultural Leadership Habits
On this week’s The Small Business Radio, I interviewed someone who grew up in a cult and what it taught him about developing cultural leadership habits. Having grown up in a religious cult and then confronted its toxic culture, Tobias Sturesson became a leading advocate for the vital importance of cultural health for organizational success and human flourishing.
Holiday Spending Trends in 2024: Americans Switch to Basics Amid Inflation
A new holiday spending survey from BizInsure reveals a shift in spending habits this year, as Americans focus on essential items like clothing and cut back on travel and expensive gifts. The survey, conducted in early November with 1,200 respondents, highlights the impact of inflation on holiday spending, as 85% of Americans report having cut back on their discretionary spending.
Survey highlights financial industry’s dependence on manual processes and urges modernization by 2025
PayEm today released a new survey that highlights the financial industry’s lag in adopting modern technologies. The findings reveal that 86% of financial professionals still rely on Excel for budgeting and forecasting, while 75% rely on manual reviews and approvals instead of leveraging AI or automated solutions.
T-Mobile Improves Internet Backup Plans for Homes and Small Businesses with More Data
T-Mobile (NASDAQ: TMUS) recently announced an upgrade to its Home Internet Backup and Small Business Internet Backup plans, offering more data to help traditional ISP customers stay connected during outages. New and existing customers will receive three additional free 130GB data passes per year, on top of the 130GB of 5G data per month already included in these plans.
SBA Encourages Shoppers to Support Local Businesses on Small Business Saturday with “Give Big, Shop Local” Campaign
The U.S. Small Business Administration (SBA) announced the start of its Season of Small Business holiday campaign, beginning with the 15th annual Small Business Saturday on November 30, 2024. The event, funded by American Express, encourages consumers to support local small businesses during the holiday season.
Gasoline prices near $3 as Gulf monitors possible arrival of Hurricane Sara
The national average price of a gallon of gasoline is approaching a milestone, now just under 10 cents away from falling below $3 for the first time since May 2021. However, the possible formation of Hurricane Sara in the Gulf of Mexico could alter this decrease. according to AAA.
Snapchat introduces new AR lenses, platform features and glasses capabilities
Snapchat has introduced a number of new lenses, platform features, and tools aimed at improving augmented reality (AR) experiences for both developers and users. The updates are part of the Snap OS v5.58 release, which introduces innovative capabilities for Spectacles, Snap’s AR-enabled smart glasses, along with expanded tools for developers to create and experiment with AR apps.
In the news: Which city has the most forgetful Uber passengers?
Our Small Business Breakdown team is back for another week and they’ll be covering a wide range of topics. In this week’s episode, the team focuses on several stories that made headlines this week on Small Business Trends, including a fascinating look at Uber data on what are the most popular things passengers drop off and what Cities have the most forgetful passengers.
New York Business Owner Pleads Guilty to Payroll Tax Fraud
Victor Aguayo, owner and president of Mabel Interior Design Inc., an interior painting company in Westbury, New York, pleaded guilty today to employment tax crimes. Aguayo admitted to failing to collect and pay payroll taxes on his employees’ salaries, resulting in significant tax losses for the federal government.