Small Biz Breakdown: New from OpenAI and the Latest Economic Indicators

This week, our Small Biz Breakdown crew is back and talking about some of the biggest stories that matter most to small business owners and entrepreneurs right now.

Check out the always lively discussion of this week’s panel as they discuss some of the latest innovations in AI technology, specifically a new offering from OpenAI, as well as a talk about some of the latest economic conditions and how they affect small business owners nationwide.

See what they had to say about these topics and much more on this week’s episode of Small Biz Breakdown below …

Small Business News

Here are the top headlines from Small Business Trends from the last week that are important to small business owners …

Omnisend Survey: 39% of Shoppers Abandon Purchases Due to AI Chatbots

A new survey by Omnisend reveals that AI-powered customer service tools may be driving shoppers away rather than improving their online experience. According to the survey, 39% of shoppers have abandoned a purchase due to frustrating interactions with AI chatbots, while 40% cite poor customer service as AI’s biggest drawback in ecommerce.

Google Expands Availability of Deep Research and Gems in Gemini App

Google has announced an expansion of Deep Research and Gems within the Gemini app, making the features available to additional Google Workspace customers.

NFIB Survey: Small Business Optimism Declines in February

The National Federation of Independent Business (NFIB) reported a decline in small business optimism for February, with its Small Business Optimism Index falling by 2.1 points to 100.7. Despite the decline, this marks the fourth consecutive month the index has remained above the 51-year average of 98. However, the index remains 4.4 points below its recent peak of 105.1 recorded in December.

OpenAI Introduces New Tools for Building AI Agents

OpenAI has announced the release of new tools designed to help developers and enterprises build AI agents that can independently accomplish tasks on behalf of users. The update includes a suite of APIs and tools aimed at simplifying the development of agentic applications.

Intuit QuickBooks Introduces Tap to Pay on iPhone for Seamless Contactless Payments

Intuit has announced the launch of Tap to Pay on iPhone for QuickBooks Online customers in the U.S., providing small and mid-market businesses with a streamlined way to accept in-person contactless payments using only an iPhone. The new functionality enables QuickBooks users to manage their business finances more efficiently while improving cash flow and payment processing.

Saltbox Launches ‘Luck of the Entrepreneur’ Grant for Small Businesses

Saltbox, a leading flexible co-warehousing and logistics provider, has announced the launch of the Luck of the Entrepreneur grant to support small businesses. Timed with St. Patrick’s Day, the initiative offers financial assistance to entrepreneurs, reinforcing Saltbox’s commitment to helping small business owners scale effectively.

New Report: TikTok Supports 28 Million Jobs Across 7.5 Million US Businesses

A new report from Oxford Economics reveals that TikTok has become a key driver of employment in the United States, with 7.5 million businesses on the platform supporting more than 28 million workers. The study, published today, highlights TikTok’s role in job creation and economic opportunity, particularly for small and mid-sized businesses. 4.

Zoho Unveils Projects Plus, a Unified AI-Driven Project Management Platform

Zoho Corporation has launched Projects Plus, a new AI-powered project management platform designed to enhance efficiency and collaboration for mid-sized and enterprise organizations.

California Businessman Indicted for Tax Evasion

A federal grand jury has indicted Edward Michael Greer, a Newport Beach businessman, on charges of tax evasion. According to the indictment, Greer, the owner of insurance salvage company Greer & Kirby Co. Inc., allegedly misclassified millions of dollars in personal expenditures as business expenses between 2017 and 2020.

Fiverr Launches Freelancer Equity Program, Offering Shares to Top Freelancers

Fiverr has introduced a Freelancer Equity Program, granting shares to top-performing, eligible freelancers based in the United States. The initiative aims to provide financial benefits beyond traditional earnings, reinforcing Fiverr’s commitment to its freelancer community. As freelancers are projected to represent half of the U.S.

SBA Launches Made in America Manufacturing Initiative to Boost U.S. Industry

The U.S. Small Business Administration (SBA) has announced the launch of the Made in America Manufacturing Initiative, an effort aimed at revitalizing American manufacturing by cutting regulations, expanding access to capital, and strengthening supply chains.

Constant Contact Report Highlights Social-First, Tech-Driven Small Businesses

Constant Contact has released its latest Small Business Now report, revealing that new small and medium-sized businesses (SMBs) are leveraging social media and technology to drive growth and navigate economic challenges. The study surveyed 1,600 SMBs across the United States, United Kingdom, Australia, and Canada that have been in operation for five years or less.

Apple Unveils New MacBook Air with M4 Chip and Lower Starting Price

Apple has announced the launch of the latest MacBook Air, featuring the powerful M4 chip, up to 18 hours of battery life, and a new 12MP Center Stage camera. The new MacBook Air models now start at $999, $100 less than the previous version, with an education pricing option of $899.

Small Biz Breakdown: Should Creative Companies Charge Less If They Use AI?

This week on Small Business Breakdown, our expert panel is back and talking about headlines saying that consumers are turning their attention to small businesses over bigger retailers. Is this actually happening or just something someone is saying? Our panel discusses. They also tackle the topic of creative companies and their use of AI.

Apple Unveils iPad Air with M3 Chip and New Magic Keyboard

Apple has introduced the latest iPad Air, now powered by the M3 chip, bringing significant performance improvements and enhanced portability. The new iPad Air is available in two sizes, 11-inch and 13-inch, with a starting price of $599 and $799, respectively. Customers can pre-order today, with availability beginning Wednesday, March 12.

New Survey Reveals Small Businesses Lag Behind Larger Counterparts in Security and Unification

Affordable technology has eased the friction of digital workplace transformation, opening the process up to businesses of all sizes and budgets. Yet, surprisingly, the majority of businesses are still lagging behind, and the trend applies extra to small businesses.

This article, "Small Biz Breakdown: New from OpenAI and the Latest Economic Indicators" was first published on Small Business Trends

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