Low-income Microentrepreneurs Get $7 Million in Business Grants

Entpreneurship really knows no bounds when it comes to a person’s income level. Many times, a great idea for a business is born out of someone’s desire to lift themselves out of a tough economic situation.

However, people in those positions generally have a difficult time finding access to the capital they need to get their business idea off of a piece of paper and on the ground and running.

This week, the Small Business Administration announced that it awarded $7 million in PRIME business grants for low-income entrepreneurs that will help those folks get their ideas moving forward.

That was one of the top headlines in a week full of news for small business owners. Let’s take a look at that and other headlines in our Small Business Trends Weekly News Roundup:

Wix Expands Partnership with Google to Offer Gemini for Workspace

Wix has announced the expansion of its strategic partnership with Google by becoming the first reseller of Google’s Gemini for Workspace. This collaboration enables Wix users to leverage advanced generative AI solutions across Google Workspace, significantly enhancing productivity, creativity, and efficiency.

T-Mobile Unveils Exclusive Deals on New Google Pixel 9 Series and Pixel Watch 3

T-Mobile (NASDAQ: TMUS) announced today that Google’s latest Pixel lineup, including the Pixel 9, Pixel 9 Pro, Pixel 9 Pro XL, Pixel 9 Pro Fold, and Pixel Watch 3, will soon be available through its service. T-Mobile is offering exclusive deals for new and existing customers, making it easier than ever to access these new mobile devices on the T-Mobile 5G network.

New NFIB Survey Reveals Top Concerns for Small Businesses: Inflation, Taxes, and Uncertainty Lead the List

The National Federation of Independent Business (NFIB) has released the 11th edition of its quadrennial report, Small Business Problems and Priorities, which provides a detailed analysis of the challenges facing small business owners across the United States.

Adobe Launches AI-Powered Journey Optimizer to Revolutionize B2B Marketing

Adobe (Nasdaq: ADBE) has announced the general availability of Adobe Journey Optimizer (AJO) B2B Edition, a groundbreaking tool designed to transform how businesses engage with buying groups— the committees of individuals responsible for major purchasing decisions.

IRS Provides Tax Relief to Minnesota Victims of Severe Storms and Flooding

The Internal Revenue Service (IRS) has announced tax relief for individuals and businesses in 25 Minnesota counties affected by severe storms and flooding that began on June 16, 2024. Taxpayers in these areas now have until February 3, 2025, to file various federal tax returns and make tax payments.

SBA and Department of Veterans Affairs Partner to Boost Veteran Entrepreneurship

The U.S. Small Business Administration (SBA) and the U.S. Department of Veterans Affairs (VA) have announced a new partnership aimed at promoting veteran entrepreneurship.

US Forest Service Announces Hazardous Fuels Transportation Assistance Grants to Support Wildfire Crisis Strategy

The U.S. Forest Service has announced the availability of Hazardous Fuels Transportation Assistance grants, aimed at supporting projects that remove hazardous fuels from national forests and grasslands. These grants are designed to enhance forest health and resilience, reduce wildfire risk, and support local forest product facilities and rural economies.

TikTok Releases 2024 Shopping Trend Report: “Bending Reality”

TikTok has unveiled its second annual “What’s Next 2024: Shopping Trend Report,” highlighting the transformative shifts in consumer behavior influenced by economic uncertainty and inflation.

Meta Announces Llama 3.1 Impact Grants Program to Support Societal Benefits of Open Source AI

Meta has opened applications for the Llama 3.1 Impact Grants program, designed to support innovative and impactful uses of its open source AI model, Llama 3.1. This initiative builds on last year’s successful Llama Impact Grants program, which aimed to tackle global challenges in education, the environment, and open innovation.

IRS Requires Multi-Factor Authentication for Tax Professionals to Enhance Security

The Internal Revenue Service (IRS), in partnership with the Security Summit, announced today that multi-factor authentication (MFA) is now a federal requirement for all tax professionals under the Federal Trade Commission’s safeguards rule. This mandate aims to bolster the security of sensitive client information by requiring more than just a username and password for system access.

Fiverr Expands eCommerce Solutions with Acquisition of AutoDS, a Leading Dropshipping Automation Tool

Fiverr has announced its acquisition of AutoDS, a subscription-based platform that provides end-to-end solutions for dropshippers. AutoDS offers tools for product research and sourcing, inventory management, and automated fulfillment, catering to tens of thousands of paying subscribers worldwide.

SBA Announces $7 Million in PRIME Grants to Support Low-Income Microentrepreneurs

The U.S. Small Business Administration (SBA) has announced the awarding of $7 million in PRIME grants to 28 nonprofit organizations across the country. These grants are part of the 2024 Program for Investment in Microentrepreneurs (PRIME) and are aimed at providing training, program development, and increased access to capital for disadvantaged microentrepreneurs.

Ohio Man Pleads Guilty to Employment Tax Fraud Related to Dentistry Practice

An Ohio man, Eric Moesle of Pickerington, has pleaded guilty to charges of failing to pay more than $750,000 in employment taxes and not filing employment tax returns, according to an announcement from the Department of Justice.

This article, “Low-income Microentrepreneurs Get $7 Million in Business Grants” was first published on Small Business Trends