Record 21M business applications filed under Biden admin. | Generative AI reshapes TV ads for small businesses | Focus Lab CEO on building trust through B2B branding
Small businesses played a crucial role in the economic recovery under President Joe Biden's administration, contributing significantly to GDP and job creation. A record 21 million new business applications were opened, and federal agencies awarded a record $183 billion in contracting opportunities.
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Generative AI platforms like Streamr.ai and Comcast's Universal Ads local businesses more easily run commercials on streaming and connected TV. Trident Coffee CEO Eric Johnson says that Streamr's geolocation feature "really helps us keep advertising costs down" by limiting campaigns to people within range of the coffee shops and notes generative AI's ability to convert still photos into video ads.
Focus Lab CEO Bill Kenney emphasizes the importance of trust in B2B branding, noting that it begins before a customer is aware of a company and extends beyond a signed contract. Kenney advises companies to be genuine and consistent to build trust and highlights the role of customer reviews in supporting a brand's trust-building efforts.
If you're looking to create a connected culture for your teams, Philadelphia Eagles head coach Nick Sirianni embodies three habits you should develop, writes Michael Lee Stallard, including leading with consistent positivity, expressing appreciation and communicating a vision for the future. "This level of trust and respect makes the Eagles' team dynamic stronger and more cohesive, as players are more receptive to coaching and more willing to push themselves for the collective good of the team," Stallard writes.
Small business owners are increasingly turning to tax advisors for strategic planning as tax laws become more complex, as these experts can help owners navigate tax codes, optimize financial decisions and prepare for the future. Traditional tax preparation services are no longer sufficient, says Mark Kohler, a tax professional, emphasizing the need for year-round support and comprehensive tax strategies.
Small businesses choosing between professional employer organizations and payroll service providers should consider differences in cost, services and compliance. PEOs offer comprehensive HR support and assume tax liabilities, while PSPs focus on payroll processing and tax filing under the business' employer identification number.
Small businesses are increasingly looking to adopt AI, but many face challenges such as budget constraints, integration issues and concerns about tech failures, according to Builder.ai CEO Sachin Dev Duggal. Despite these hurdles, AI can act as a stabilizer for small businesses by enabling smarter, data-driven decisions. It helps streamline processes and improve overall efficiency, providing structure and support to keep businesses on track.
A study in Cognition and Emotion reveals that subtle eye features like pupil size and iris brightness significantly influence perceptions of attractiveness and friendliness. Larger pupils and brighter irises in non-human primates were linked to higher ratings of cuteness and generosity, suggesting these traits affect social impressions.