Top Stories
U.S. small business confidence reached an 8-month high in July
The National Federation of Independent Business’s most recent Small Business Optimism Index rose 0.9 points to 91.9 in July, hitting the highest level since November of 2022. Furthermore, inflation was cited as the top issue for 21% of business owners, a decrease of three percentage points from June. Investments in labor and capital investment plans appeared to reflect the optimism’s ongoing improvement, with more than 25% of businesses revealing plans to invest in capital. Read More
Shopify soft launches free artificial intelligence service for entrepreneurs
eCommerce platform Shopify has launched Shopify Magic, a service giving businesses access to powerful artificial intelligence tools for free. The eCommerce platform revealed the launch during its recent Summer 23 Edition event, where it described the features included in the new toolkit. While development is ongoing, the main attraction of Shopify Magic is an AI-powered assistant titled Sidekick. Businesses can use Sidekick in a similar manner to ChatGPT, writing prompts to direct responses from the software. Read More
Tech startups to receive historical NATO investment for defense and security
The North Atlantic Treaty Organization (NATO) has officially secured $1.1 billion to invest in defense and security tech startups.The fund represents the first instance of a private-sector defense and security investment backed by multiple nations. While the U.S. did not contribute to the initiative, 23 NATO-allied governments donated toward the final amount over the course of a year. One of these countries, Sweden, has yet to officially join the alliance, although it is in the process of entering the treaty. The money will go towards contractors and tech startups developing “dual-use emerging technologies.” This broadly defined category can include artificial intelligence systems, autonomous vehicles, biotechnology, quantum-based computing and propulsion systems for aerospace travel. Read More
Vice Pres. Harris announces $125M funding allocation for small businesses
On August 4, 2023, Vice President Kamala Harris announced that the administration would invest $125 million to aid small businesses in underserved communities. The administration’s investment will be awarded to 43 small businesses, chosen due to the support they offer entrepreneurs, specifically in underserved areas. Harris stated during remarks in Washington, D.C., “As Bidenomics continues to demonstrate, when we invest in the dreams and ambitions of small business owners and entrepreneurs, it produces opportunity and prosperity for us all.” Read More
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