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Small businesses

Increasingly, small businesses are adopting AI

by Elizabeth Trovall
Dec 4, 2024
Large businesses tend to lead the pack in AI adoption, but very small businesses have also been using AI at relatively high rates.
Artificial intelligence can do simple tasks that would otherwise require expensive manpower. That's one reason small business AI use is growing.
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Here's why veterans, on average, tend to start more businesses

by Kimberly Adams
Nov 11, 2024
Turns out, the military teaches a lot of the skills that make good entrepreneurs.
Veterans own about 5.4% of the nation’s businesses, generating more than $900 billion in revenue.
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Health care costs are rising for employers, but many hesitate to cut benefits

by Kimberly Adams
Nov 5, 2024
Workers' contributions follow trend of wages and inflation, but in a weaker labor market, businesses will have more leeway to reduce spending.
Small businesses are working to withstand rising health care costs.
Brian van der Brug/Los Angeles Times via Getty Images
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Small businesses could see big gains by boosting productivity

by David Brancaccio and Alex Schroeder
Apr 25, 2024
And they can achieve that through better collaboration with companies big and small in their industries.
"Small businesses are, really, the backbone of the economy in so many ways," says McKinsey's Anu Madgavkar.
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Some small businesses are squeezed between rising costs and customers with other options

by Stephanie Hughes
Apr 18, 2024
For restaurants and retailers in particular, it can lead to something the Federal Reserve's Beige Book calls "lumpy" pricing.
Restaurants and retailers don’t necessarily have to raise prices to protect their profit margins, says Adrienne Slack at the Atlanta Fed. They can also save money by cutting back.
Brendan Smialowski/AFP via Getty Images
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My Economy

This immigrant small businessman brings a taste of Bolivia to his community

by Sofia Terenzio
Apr 12, 2024
Adrian Espinoza, owner of Empanada Club in Portland, Maine, talks about starting his business dealing with rising costs.
Adrian Espinoza, owner of Empanada Club in Portland, Maine, makes and sells Bolivian style empanadas at farmers markets, festivals and through his online shop.
Courtesy Espinoza
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Small businesses have Now Hiring signs up — whether they need workers or not

by Justin Ho
Apr 2, 2024
So government stats on job openings may not be telling us much.
Frankesha Watkins, who owns a beauty supply store, said she always keeps a job listing posted because high turnover among her staff creates frequent openings.
Alexi Rosenfeld/Getty Images
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Small business optimism ticked down in November

by Mitchell Hartman
Dec 12, 2023
The National Association of Independent Business's small business optimism index has been below its historical average for nearly two years.
While the labor shortage have been easing, it's still a persistent issue for small businesses.
Scott Olson/Getty Images
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My Economy

From college friends to business partners, these stationers are celebrating 10 years in business together

by Sofia Terenzio
Nov 30, 2023
Danielle McCarthy and Ellen Kelly run a luxury wedding stationery business in Newport, Rhode Island, where they specialize in letterpress printing.
Kelly and McCarthy met their freshman year of college at an art school in Beverly, Massachusetts. Now, they both live and run their stationery business in Newport, Rhode Island.
Erin McGinn Photography
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'Tis the season for sugary treats: What pays the bills for this creative cookie business

by Kristin Schwab , Sofia Terenzio and Sarah Leeson
Nov 24, 2023
Maddie Gartmann of Garty Goodies enjoys sweet success with special event orders and cookie decorating classes.
There's an enthusiastic customer base for Maddie Gartmann's cookie decorating classes. "Luckily, that's what I enjoy doing the most," she says.
Courtesy Gartmann
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