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In the News: Small Business Community Braces for Coronavirus



Corona-virus Business Risk

The one issue business owners, government leaders  — and everyone else — seem to be talking about this week is the coronavirus. Even though the flu in the U.S. alone has killed and hospitalized more people, COVID-19 is getting all the attention.

In turn, this has affected travel, manufacturing and everyday life of tens of millions of people around the world. Schools are being closed, events with large crowds are being canceled and even the 2020 Olympics might be postponed.

A survey from Veem this week says 27% of businesses expect the coronavirus to have a moderate to high impact on their revenue. When it comes to their supply chain, another 30% expect the virus to have a moderate to high impact.

In addition to the coronavirus, this week’s roundup also looks at how much time small business owners spend at work. Seventy percent of them work way past their bedtime.

If you want to stay informed on the latest issues affecting small businesses, make sure to take a look at the weekly roundup as well as all of the content in SBT.



Management

What Your Small Business Needs to Know About Coronavirus and What You Should Do Now

Coronavirus has made its way to the U.S. And the CDC recently released guidance for businesses that are concerned about its potential impact. Coronavirus, also known as COVID-19, is a virus that causes a wide range of symptoms. Mild cases include cough, shortness of breath, fever, and respiratory issues. Severe cases can lead to viral pneumonia, which cannot be treated with antibiotics.



27% of U.S. Small Business Owners Believe Coronavirus Will Impact Revenue

The 2019 Novel Coronavirus (2019-nCoV) is steadily spreading around the world. And it is having a dramatic impact in the personal and business lives of people in the countries which it is spreading. Even though it hasn’t spread with the same ferocity in the U.S. as it has in Wuhan, China, small business owners are beginning to worry.

70% of Business Owners and Self-Employed Work Past Their Bedtime

Almost three quarters (70%) of self-employed and business owners work past their bedtime. Half of workers in total stay up late, while 1 in 3 are unable to finish work during regular hours. These work habit statistics were unveiled by research by mattress and sleep products reviewers The Sleep Judge, which surveyed over 1,000 people about their working habits and performance.

10 Tips to Help You Make the Most of Your Time as a Small Business Owner

Small business owners only have a finite amount of hours each day. How you use them can have a major impact on your overall success. If you want to make the most of your limited time, you need to increase productivity in new and creative ways. See what has worked for members of the online small business community below.

Marketing Tips

How to Use Customer Case Studies as Effective Marketing

Customers don’t want to be the first. They want other people to provide the proof that your product or service is effective. As a result, customer case studies become an effective marketing tool for small businesses. Customer Case Studies Marketing On the Small Business Radio Show this week we speak with Brian McCarthy.



Product Lists

Guide to Voice Assistants in Business

We’ve all heard about Apple’s Siri, Google’s Assistant, Amazon’s Alexa and Microsoft’s Cortana but what do they do? They are voice assistants that use voice-activated apps and AI technology. As a result, they can help us get directions, research, make appointments and more.

Small Business News

Podium Changes the Way Local Businesses Process Payments

Now SMBs can get money 80% faster through texting. That’s the claim made by a company focusing on messaging tools for local businesses. Podium’s new payments product lets small businesses request customer payments with messaging. Podium Payments Small Businesses Trends contacted Chase Petrey, VP of International and Payments to learn about this .

6 Things Small Business Owners Need to Know About 5G

By 2025, the number of 5G subscriptions will reach 2.61 billion. If you’re a small business that hasn’t taken steps to get ready for this fifth generation wireless technology, the time is now. 5G in 2020 Here’s 6 things small business owners need to know about 5G in 2020. You’ll Get Faster Connections This is good news if you’re an e-commerce business.

Tech Industry Sees 27% Growth in New Companies

Do you want to venture into the tech industry? If yes, then you have a reason to rejoice. According to the latest State of Swyft Industry Report, the technology industry witnessed 27.3% year-over-year growth in new business formation between 2018 and 2019. Considering last year’s negative growth for the same, this is a significant increase.



82% of Younger Self-Employed People Change Their Voice on Business Calls

82% of 18 to 24-year-olds who are self-employed admit to changing their voice when on the phone to sound more professional. Furthermore, 77% of business owners and freelancers use their personal mobile for business purposes.

66% of Americans Check Phone 160 Times a Day, Here’s How Your Business Can Benefit

A study reveals 66% of Americans check their phones 160 times every day. Almost the same number (65.7%) of people in the United States admit to sleeping with their smartphones at night. These statistics were unveiled by Reviews.org’s survey titled ‘America’s Love Affair with their Phones.

Vimeo Launches AI Powered Suite Geared to SMBs

Vimeo’s new suite of video tools geared toward small businesses harnesses the power of AI for less than your monthly internet fee. Vimeo Create is available across iOS, Android mobile apps and the web so SMBs can focus on high impact social videos. Vimeo Create Launch Small Business Trends contacted Mark Kornfilt, Vimeo’s CTO/CPO. He highlighted some of the big advantages here.

DriverChatter App Lets Uber and Lyft Drivers Connect

An Uber and Lyft driver from Chicago has launched a new app designed to enable drivers to connect with colleagues on their own social site. The app is known as DriverChatter and is available to download to Uber and Lyft drivers. DriverChatter has successfully launched in Chicago and aims to develop its userbase in cities throughout the United States.



Startup

20 Business Name Generators for Small Businesses

Choosing the right business name can help you get your new venture off to a strong start. However, some entrepreneurs struggle to find names that are relevant, memorable, and available. Luckily, name generators can help spur ideas. There are plenty of these available online, including those for specific industries and niches such as craft business names.

What are the Best States to Open a Restaurant?

The restaurant industry is about to experience a significant upturn in economic growth during 2020, with sales predicted to hit $899 billion over the course of the year. That will represent a 4% increase on 2019, so it is clearly a good moment to open a restaurant business. This is great news for small business owners either in the restaurant industry already or looking to get started.

Can Incfile Really Help You Form a New LLC for Free?

Filing costs for forming an LLC range from under $100 to several hundred dollars depending on the state. And that’s just the beginning. Then there’s paperwork and attorney’s fees that add up. And a host of other ongoing requirements. Still, stats point to the fact thousands of people start businesses every year.

Technology Trends

5 Types of Business Intelligence Tools You Didn’t Know You Needed

Better business intelligence leads to smarter business decisions, yet many companies continue to rely on outdated equipment and practices. Some do it because they can’t find room in the budget. Others don’t even realize they have options.



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