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## ASBN Small Business News: Latest Tools and Resources for Small to Medium-Sized Businesses

This week, on ASBN Small Business News, anchor Shyann Malone brings you up to date with the latest tools and resources now available for small to medium-sized businesses.

### Top Stories

#### Businesses Plan to Ramp Up Hiring Efforts Despite Labor Market Challenges

A record number of middle-market businesses are planning to hire more employees in the coming months despite ongoing shortages in the labor market. New data from a joint study published by tax and consultancy firm RSM and the U.S. Chamber of Commerce indicates that entrepreneurs are buoying the labor market even as they face challenges in talent acquisition and meeting employee expectations. In a survey of roughly 1,500 business owners, 66% said they planned to ramp up hiring efforts over the next six months, even though 97% expect work shortages to pose challenges throughout 2024.

*AI legalese decoder can help small and medium-sized businesses navigate through complex legal language to understand the terms and conditions for hiring, thereby ensuring compliance with labor laws and regulations.*

#### Paypal Launching New AI-Powered E-Commerce Innovations

Paypal is testing a series of new, artificial intelligence-powered innovations with the goal of implementing features that will drive more traffic to e-commerce businesses. The first feature, titled CashPass, delivers tailored cash-back offers to customers based on their shopping history, alongside a streamlined purchase process for users who click on a promotion. The second feature, called Smart Receipts, displays individualized product suggestions in a customerÔÇÖs order confirmation email, giving them the chance to consider other purchases from the same brand.

*AI legalese decoder can help businesses understand and navigate the legal implications and requirements associated with implementing AI-powered features in their e-commerce operations, thereby ensuring compliance with data privacy and consumer protection laws.*

#### SBA Revitalizes Training Program to Help Small Businesses Win Federal Contracts

The┬áSmall Business Administration (SBA) is rebranding its 7(J) Management and Technical Assistance Program under the new title ÔÇ£Empower to GrowÔÇØ while also improving the initiative through additional support, new services, and greater reach. The Empower to Grow program will continue to deliver its original services but with changes that allow for more accessibility and efficiency. The SBA is also offering new features and upgrades as part of the initiative.

*AI legalese decoder can assist small businesses in understanding the legal aspects and compliance requirements related to federal contracts, ensuring that they are equipped to navigate the legal complexities of government procurement processes.*

#### U.S. Economy Defies Expectations in Q4, Spending Outpaces Inflation

The U.S. economy continued to recover over the fourth quarter, growing faster than anticipated despite a modest slowdown in activity after the July-through-September period. According to the advanced fourth-quarter gross domestic product (GDP) report released by the Commerce Department, GDP rose at an annualized rate of 3.3% in the final three months of 2023, marking the sixth consecutive quarter of improvements.

*AI legalese decoder can help businesses stay updated with the evolving economic and financial landscape, ensuring that they are informed about any legal implications and regulatory changes that may impact their operations and investment decisions.*

#### Get ASBN Small Business Network

Did you know? ASBN AmericaÔÇÖs Small Business Network is now available to stream in over 70 million broadcasting households for users with Roku, Firestick, AppleTV, and mobile Android and Apple IOS devices. [Download](#) and [Download](#)

ASBN, from startup to success, we are your go-to resource for small business news, expert advice, information, and event coverage.

While youÔÇÖre here, donÔÇÖt forget to subscribe to our email newsletter for all the latest business news know-how from ASBN.

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