News & Insights

Consistency in branding is not just about looks; it's a strategic imperative that can significantly impact customer loyalty and your bottom line. According to a study by Lucidpress, consistent brand presentation can increase revenue by up to 33%. Furthermore, a report by Edelman revealed that 81% of consumers need to trust a brand before making a purchase decision. Additionally, a survey by Accenture Research found that 65% of customers are frustrated by inconsistent experiences across different channels.

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The No-Fee Summer Celebration is ending on August 31st, 2024. Integro Bank's new fee schedule for personal accounts will be effective September 1st, 2024.

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Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced $3 million in new funding under the Cybersecurity for Small Businesses Pilot Program. Three grants will be awarded to state agencies to provide training, counseling, and other tailored cybersecurity services for startups and emerging entrepreneurs. “With small businesses accounting for 99.9 percent of all American businesses and employing nearly half of the private workforce, any cyber threat to our small businesses is a threat to our country’s overall economy,” said SBA Administrator Guzman.

Applications will be accepted from July 2-Aug. 2, and applicants can apply for awards ranging from $1,000,000 to $1,045,000 for a performance period of 24 months ending September 2026.

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Check fraud remains a significant threat to businesses of all sizes. According to the Association for Financial Professionals' 2022 Payments Fraud and Control Survey, 65% of organizations experienced actual or attempted check fraud in 2022, with checks being the payment method most often targeted. The losses from these incidents can be substantial - the Great American Insurance group found the median loss reported was $1,988. That’s more than six times the median loss on all frauds tracked by the FTC. 

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Regulatory compliance is a critical aspect of running a small business that often feels overwhelming. According to a survey by the National Small Business Association, 44% of small businesses reported spending more than 40 hours per year dealing with federal regulations alone. However, understanding and adhering to rules is essential for avoiding penalties, maintaining reputation, and ensuring smooth operations.

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One of the most significant challenges small businesses face is the perceived lack of negotiation power compared to their larger counterparts. Small businesses often feel disadvantaged due to their size and limited market influence. To counteract this, small business owners should focus on their unique value propositions. Highlighting specialized expertise, personalized service, or niche market presence can make a significant difference. Testimonials and case studies that demonstrate the value your business brings to the table can also bolster your negotiating position. According to a report by the Small Business Administration (SBA), 29% of small businesses cite limited purchasing power as a significant barrier in negotiations.

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