WJR Business Beat: The Great Story Behind Better Made (Episode 407)

National Federation of Independent Businesses, small business optimism index edge down to 89.4% in Feb 2024. The lowest in 9 months. Small business owners reported that inflation was their single most important business problem as is the cost of capital and labor.

Data released from Ascend reveals 70% of online shoppers in the US would purchase something from a competitor versus from their favorite online store if they were given a coupon for just 20% off the purchase. More powerful than brand loyalty these days.

Governor Whitmer has issued a release urging small businesses impacted by lack of snow to apply for federal funding available to them in the form of federal economic injury disaster loans, those loans are available because of ongoing federal drought declarations affecting 42 Michigan counties. Submit applications and find additional disaster assistance information@lending.sba.gov

Marketing for an SMB, small and medium sized businesses, new data shows just how and where they're spending their time, energy, and dollars to achieve that. Websites and social media still reign supreme for small and medium sized businesses to establish presence and to drive traction, ultimately leading to sales.

Brad Smith, Microsoft President, announced new AI access principles at the Mobile World Congress in Barcelona. Part of an effort to address Microsoft's growing role and responsibility as an AI innovator and market leader. "The new AI economy is creating not just new opportunities for existing enterprises, but new companies and entirely new business categories."

According to research from Gallup, and that puts a price tag on workplace unhappiness. In 2023, employees in the US continue to feel more detached from their employers with less clear expectations, lower levels of satisfaction with their organization, and less connection to its mission or purpose than they did just four years ago.

Michigan State University research and development expenditures for 2023 was $844 million. Doug Gage, VP for Research and Innovation at MSU, in DBusiness, "the research enterprise at MSU is growing because of the long-term sustained investments we have made in areas of strength, support of ongoing initiatives, and enhanced efforts to capture emerging areas of discovery".

To keep pace you simply must at least consider putting the power of Gen AI to work in your content development campaigns in order to stay competitive.

Looking for new ways to incentivise consumers to sign up to your e-newsletter or to receive email promotions from your business, put the power of coupons to work.

The restaurant sector is vitally important to local community economies, and as a whole is an important source of employment with a projection of over 15.7 million people projected to be employed by this industry in 2024.