Instagram tests a new way to let you buy products directly on the app
News Roundup for SMBs is a new series we’ve started this year, with a new issue coming out every week. We’re putting together news regarding Finance, Economy and Small Business Opportunities, so you can spend less time reading up on the news and more time focusing on growing your business.
Facebook-owned Instagram is testing a new feature that will allow you to buy products in-app.
The feature, called checkout, will eliminate the need to leave the photo-sharing app for the brand’s site. That means that Instagram users may enter their payment information in-app and buy directly from brands. Current testing is limited to established brands, but we’re looking forward to a complete roll-out.
Apple is making changes on his ecosystems of services, gearing towards offering access to quality content. The company has launched a streaming video service called Apple TV+ with Apple produced content, a premium magazine content and newspapers subscription, a video games bundle and its own credit card in partnership with Goldman Sachs.
One year after the Chicago-based company True Value, sold a majority stake to a private equity firm, it’s time to draw a line and see how the new business model is performing. And it’s good news all around, as the marketing-as-a-service model helps stores compete with big chains and e-commerce, while also ensuring high-value dividends.
A survey made public this month by the government indicated the slowdown in the manufacturing industry is linked to the decrease of optimism seen in small businesses.
The same survey showed that owners of small companies are expecting to have a decline in revenue in the year ahead. The National Association of Manufacturers has estimated that over 98 percent of U.S. manufacturing companies are small businesses with fewer than 500 workers, so the slowdown affects them most.
The New Jersey State Senator Nellie Pou proposed a bill that states a minimum 3-day waiting period between when contract terms are disclosed to an applicant and when they can actually go through with getting a business loan. The motivation behind the bill is to push owners of small business to think about the terms of the contracts. The bill, if passed, will affect small businesses with a maturity of under two years and where the loans are more frequent than bi-weekly.