While the news may seem like all is doom and gloom, American entrepreneurship says otherwise. According to a study by LendingTree, business applications in the USA exceeded the number of the previous year by mid-October in 2020.
LendingTree reports that new business applications have already passed the 3.4 million mark in 2019 and are still almost three months out of the year. In addition, an average of nearly 74,000 businesses applied for employer identification numbers (EINs) each week in the first 13 weeks of 2020.
This week’s recap story is one of many that shows the entrepreneurship of small businesses and Americans alike. You can read the rest of Americans starting new businesses at a record pace, as well as many other topics aimed at small business owners.
Small Business News Roundup for December 11, 2020
Here are the top small business headlines this week:
TechSmith Audiate makes audio editing as easy as editing documents
TechSmith has announced the launch of its new audio recorder and editing solution, Audiate. High quality audio and associated transcriptions coupled with great video are important as they not only make it easier for your viewers to understand what you are trying to convey, they also enjoy the video.
Shopify data – customers want free and fast shipping (including returns!)
Ecommerce customers want free and fast shipping according to Shopify’s The Future of Commerce 2021 report. The report from the e-commerce platform shows trends in changes in consumer behavior in e-commerce. According to the report, consumers are more likely to look for more interactions than mere transactions.
57% of marketers admit that they are not prepared to change consumer behavior
With the holiday season in full swing, consumer shopping behavior is expected to shrink with in-store purchases. This is evident from research by BlueVenn. More than half of marketers (57%) admit they are concerned that they won’t be able to adjust to changes in shopping behavior this holiday season. The study shows that 64% of US consumers will dramatically change the way they shop this year.
Bluehost identifies the top three problems small business owners face in 2021
As we say goodbye to a year, no one will be disappointed to see small businesses both optimistic and cautious about what lies ahead in 2021. A survey by Bluehost reveals what are the top concerns for small businesses as the new year begins. The number one small business concern for 2021 is attracting new customers.
Business loan approval rates have dropped 50% over the past year
According to the Biz2Credit Small Business Lending Index, approvals for small business loans with large banks are down 50% year over year. Credit approvals from major banks with assets of more than $ 10 billion were 13.2% in November of this year, compared with 28.1% in the same period.
Google is introducing new small business capabilities in Maps and Search
There is a lot of information in your online small business profile. And you need to provide that information quickly and accurately. Google makes this possible by providing messaging capabilities and customer information on Google Maps and search. This new feature is the second part of Google’s effort to make it easier for businesses to update information.
Soundstripe and Waymark offer developers unlimited music access and licenses
The more businesses and consumers go online, the more important content becomes. A new partnership between Soundstripe and Waymark gives developers unlimited access to music and licenses. Whether it is music or video, quality content is essential to communicate more effectively with your audience.
ADP: Small businesses create 110,000 jobs in the US economy
Small business employment growth in the United States is growing, but slower than it was in early 2020. Small business employment in the private sector increased by 110,000 jobs from October through November, according to the November ADP Small Business Report. This is only a marginal decrease from September through October numbers, but is well below the nearly one million new jobs reported in June.
Strikingly introduces custom checkout boxes and other upgrades for ecommerce users
Strikingly has announced the launch of its custom checkout boxes and upgrades for ecommerce users. With the latest offer from the website builder, users with a website shop can offer additional options to their customers. This includes checking out, options to expand sections on their website store to showcase additional services, and much more.