Weekly RoundUp – October 10, 2024

The Small Business Breakdown crew is back with another episode this week and they’re a little fired up … once again.

Our panel of experts doesn’t hold back when discussing Canva’s decision to back away from its decision earlier this year to drastically raise the cost of its Teams subscription rates for existing users.

When Canva hit existing users with news of a price increase, loyal users reacted as you’d expect them to react. They flipped.

The good news is, Canva listened to the collective reaction from its loyal base and backed away from the decision to raise their rates. The question is: Will that convince users to stay or come back or has Canva lost many of its existing Teams users?

Check out this week’s episode to see how our experts feel about it and other big issues affecting small business owners this week:

And don’t forget to check out the rest of this week’s headlines that affect small business owners in our Small Business News Roundup …

SBA Offers Working Capital Loans to Small Businesses in Kentucky Affected by Drought

The U.S. Small Business Administration (SBA) announced that federal Economic Injury Disaster Loans (EIDLs) are now available for small businesses, small agricultural cooperatives, businesses engaged in aquaculture, and most private nonprofit organizations in Kentucky.

Upwork Study Reveals Companies Using Distributed Work, Flexible Talent, and Advanced Technology Achieve Superior Financial Performance

Upwork released its latest Work Innovators Report today. The report reveals that companies integrating distributed work models, flexible talent strategies, and advanced technology are seeing better financial results than their peers.

Adobe Launches Free Web App to Help Creators Protect Content and Ensure Attribution

Adobe (Nasdaq: ADBE) announced the launch of the Adobe Content Authenticity web app, a free and easy-to-use tool designed to help creators protect their work and ensure they receive proper attribution.

Meta Launches New Facebook Local Tab, Messenger Communities, and AI Features

Meta recently unveiled several new features and enhancements to Facebook and Messenger aimed at improving user experiences, especially for young adults and small communities.

Gift Card Market Launches Innovative Platform for Local Gift Card Gifting

Gift Card Market, a leading provider of digital gift card solutions, today announced the launch of a groundbreaking platform at the Retail Gift Card Association’s Forum event in San Diego. This new technology simplifies the process of sending gift cards to over 5 million local restaurants, spas, and salons across the U.S.

Smartsheet Unveils Revamped User Experience and New Features

Smartsheet just announced a major transformation of its platform today during its annual ENGAGE customer conference. The company unveiled a new user experience alongside several innovative features designed to enhance collaboration and scale work across organizations.

GoDaddy Survey Reveals Key Issues for Small Businesses Ahead of Election Day

As we get closer to Election Day on November 5 – and people in some states have already voted – small business owners are emerging as a crucial voting bloc.

Owner of Massachusetts Cellular Phone Tower Installation Business Pleads Guilty to Employment Tax Crimes

The owner of two Massachusetts-based companies, Bowmar Steel Industries Inc. and Teleconstructors Inc., pleaded guilty on Friday to willfully failing to collect, account for, and pay over payroll taxes owed to the IRS.

California Real Estate Agent Indicted on Tax Evasion and Obstruction Charges

A federal grand jury in Los Angeles has indicted Gabriel Guerrero, a commercial real estate agent based in Los Angeles, on charges of tax evasion and obstructing the Internal Revenue Service (IRS) in its efforts to collect outstanding taxes.

New Study Finds Generation Z Less Motivated to Start Their Own Businesses

A recent survey conducted by VoiceNation has revealed that only 9% of Americans are dreaming of starting their own business, with Americans aged 45-54 showing the most interest in entrepreneurship. According to the survey, 13% of individuals in this age group consider starting a business their dream career, while only 10% of those aged 18-24—representing Generation Z—see it as a goal.

Amazon Launches Business Prime Rewards and Offers Discounted Business Prime Memberships

Amazon Business has announced the introduction of Business Prime Rewards, a new benefit for Business Prime members, offering up to $1,000 annually in rewards on qualifying purchases. This program is designed to help business buyers save money while shopping on Amazon Business.

NFIB Jobs Report: Small Business Job Openings Drop to Lowest Level Since 2021

The National Federation of Independent Business (NFIB) released its September jobs report, revealing that 34% of small business owners (seasonally adjusted) reported job openings they were unable to fill. This is a six-point drop from August, marking the lowest level of unfilled job openings since January 2021.

FedEx Launches fdx Platform to Enhance Customer Experiences for Businesses of All Sizes

FedEx Corporation recently announced the launch of fdx.com, a data-driven commerce platform now available to U.S. customers. The fdx platform, powered by insights from the extensive FedEx network, aims to improve every stage of the customer journey—boosting demand, increasing conversion rates, optimizing fulfillment, and simplifying returns for businesses of all sizes.

Coming Soon: 3-Minute YouTube Shorts!

YouTube has announced a series of updates to its Shorts platform, aimed at making it easier and more fun for creators to express themselves and connect with audiences. Beginning on October 15, creators will be able to upload Shorts up to three minutes long, giving them more flexibility to tell their stories and engage with viewers.