WJR Business Beat StartupNation

Cox Business commissioned a blind survey of 502 US based small business owners and asked them, how do you feel about AI in the workplace? The data clearly shows small and medium sized businesses are actually embracing AI, leveraging AI to boost productivity and enhance the customer experience.

US online retail spending posted a strong year in 2023 up nearly 20%. One of the fastest rising with $266 billion in total spend is online grocery purchases making up 20% of all online spending. Next biggest online spending, apparel and accessories at $204B in total spend. Together groceries and apparel account for roughly 36% of all digital commerce spending.

National Retail Federation report: In 2024, people plan to spend around $6.1 That means people are buying graduation gifts this year at a pace of $117 each. 52% plan to gift in cash, 33% on prepaid gift cards, 15% on apparel items, and 13% on electronics.

SBAM's entrepreneurship scorecard is a comprehensive assessment of how Michigan's entrepreneurial economy is performing: Michigan continues to rank in the top 10 for R and D and high-tech work. Jobs and sole proprietors have become more prevalent and job growth in the smaller employee categories has increased faster than the category of larger businesses.

The Small Business Association of Michigan annual meeting is scheduled for June 13th at the Lansing Center in Lansing. Be there if you're a small business owner in the state of MI. The event designed to help small business owners maximize their time, obtain valuable resources, and new information they can put to work to help them make their businesses successful.

Women are the fastest growing segments of new small business owners, but they often lack access to funding and resources, a new grant program by H & R Block, known as the Fund Her Future Grant program is available. Deadline is May 26th. Learn more at blockadvisors.com