Congratulations on making it through another week. If you don’t already have plans for the weekend, consider supporting a local farm or orchard tomorrow to buy a pumpkin or two for jack-o-lantern carving and a gallon of apple cider. But first, check out these stories on internet search trends for small businesses and a Wisconsin program that pays students to study!
Uptick in small biz search terms, says Google
According to Google, internet searches for “Mom-and-pop” shops has hit a 3-year high. The tech company released a new report on the increasing popularity of the search terms “local” and “near me” over the past decade, which comes on the heels of their Small Business program that debuted in June of this year.
The Number: 350x. According to Google’s report, the search interest in terms like “local” and “near me” is 350 times greater than it was 10 years ago.
The Quote: “Local business search is experiencing ‘tremendous’ momentum.”
Wisconsin program turns concept of ‘unpaid internship’ on its head
Foxconn Technology Group is rolling out a new program in Wisconsin for working college students. Unlike most on-the-job internship programs that pay in “experience,” the Earn & Learn program hires students as full-time employees and then provides paid time off to study.
The Number: 3. Currently, the program is open to students at 3 Wisconsin schools, though it’s expected to expand across the state.
The Quote: “It’s a valuable opportunity to learn in and out of the classroom, observe and immerse in a company culture, and receive financial support to achieve the goal of a university degree.”
Lending fraud causes problems for SMB FinTech companies
A problem among lending institutions of all sizes, small business loan fraud impacts smaller lenders to a greater degree, according to a new study. As the process for applying for funds becomes increasingly based online, fraudsters have greater opportunity.
The Number: 5.8%. Smaller banks lose an average of 5.8% of their lending revenue to fraud, compared to the 2.9% loss experienced by large lending institutions.
The Quote: “Small banks and credit unions — undoubtedly an important part of our economy — experience higher rates of lending fraud, and our surveys suggest this is due to lower investment in technology and greater reliance on human assessments.”
When you wish upon a star … your business grows
And just because it’s Friday, here’s a fun piece on “10 Walt Disney Quotes that Could Boost Your Small Business.” We’d say “That’s All Folks!” for this week, but that’s Looney Tunes and not Disney.