Goldman Sachs survey: Small businesses lack funding to operate in the time of COVID-19

Providence Business News | March 24, 2020

Half of U.S. small business owners don’t have enough money to operate for more than three months in the current economic climate caused by COVID-19, according to a new survey published by Goldman Sachs. The survey of more than 1,500 participants in Goldman Sachs’ 10,000 Small Businesses program, a national small business training program with a local offering through the Community College of Rhode Island, highlighted the funding challenges faced by small businesses amid the global COVID-19 crisis.

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TECHNOLOGY

OYO UK partners with PredictHQ to drive more accurate forecasts with AI and data-driven demand solutions

OYO | March 16, 2022

OYO, the leading travel technology brand today announced a partnership with PredictHQ, the demand intelligence company, to provide OYO with the necessary data and insights to drive demand and enable smarter pricing and packaging of its rooms. The collaboration will see OYO use PredictHQ's enriched and verified event data and allow OYO to use data and AI, to empower patrons and guests, turning the challenges of a post-pandemic era into opportunities for the future. It will also see OYO become a more data and tech-focused company that makes data-informed decisions, and enables guests to easily research, book and change their reservations and allow patrons to prepare for busy and quiet periods as effectively as possible. "The pandemic blew demand patterns to pieces, but there is a lot for travel companies to be optimistic about if they're armed with the right data. With domestic travel being super competitive and as international and business travel rebound, it's never been more important for accommodation providers to uncover and quickly act adapt to events driving surges in demand, to ensure they are ready to meet very welcome influxes of guests." PredictHQ CEO & Co-Founder Campbell Brown "We work with many of the world's largest accommodation providers, and the partnership with OYO, especially given their focus on providing a cutting-edge user experience for their customers, is one we're very proud of." Welcoming PredictHQ as a partner, Aman Aneja, Director of Revenue Management at OYO UK says, "While OYO has always been a tech-first, data-driven organisation, the collaboration with PredictHQ offers us additional data and deeper insights to deliver more value and solutions to our patrons and guests." He adds, "OYO is accelerating its innovation in travel and hospitality by implementing fresh tech that can accommodate and adapt to new customer expectations. This is a requirement to remain a healthy business in today's reality, but equally important is to offer new technologies that exceed current customer expectations and preferences." "Technology-led businesses have emerged from the pandemic in a stronger position, which is why it was so important for OYO to invest in technology, and learn to do more from less so that we are positioned to be the best partner for our patrons and the best brand for guests," concludes Aman. PredictHQ covers 19 categories of events, including sports, conferences, school and college holidays, and unscheduled events such as severe weather and natural disasters. About PredictHQ PredictHQ, the demand intelligence company, empowers global organizations to anticipate changes in demand for their products and services. PredictHQ's demand intelligence API aggregates events from hundreds of sources and verifies, enriches, and ranks them by predicted impact so companies can proactively discover catalysts that will impact demand. With PredictHQ, businesses gain a leg up on the competition and remain confident in their ability to meet customers' ever-changing needs. About OYO OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases revenue and eases operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 157,000 hotel and home storefronts across India, Europe, Southeast Asia and 35 countries.

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FINANCE

OneConnect Inks New Strategic Partnership Agreement with Chengfang Financial Technology

OneConnect | January 10, 2022

OneConnect Financial Technology Co., Ltd. ("OneConnect"), a leading technology-as-a-service platform for financial institutions has today announced it has entered into a strategic partnership with Chengfang Financial Technology Co. Ltd., (abbreviated as "Chengfang Financial Technology"), a financial technology company established by the People's Bank of China ("PBOC"). Working with shared principles of equal collaboration, joint development, honesty and trustworthiness, both parties will work together to address common pain points in the financial industry, deliver technological innovations, and enhance data processing and governance. Under the agreement, OneConnect and Chengfang Financial Technology will harness cutting-edge technologies -- including AI, cloud computing and big data -- to explore new applications for data privacy technology in bank surveillance systems, promote the introduction and sharing of new data standards, and identify the financial data collaboration and circulation models needed by businesses to meet the requirements for secure cloud computing. In addition, the two parties will carry out research and development in areas such as secure computing technology, blockchain, and graph data; as well as nurture and cultivate new FinTech talents for the future. "This partnership with Chengfang Financial Technology is a significant step forward for OneConnect. China's digital banking sector has continuously remained at the forefront of digital transformation, and technology is at the core of its integrity and innovation. As a FinTech B2B business, OneConnect upholds its responsibility to promote the development of the financial services sector. Together with Chengfang Financial Technology, we will continue to adhere to our ongoing mission: to develop and empower the industry with our unique combination of professional expertise and technology, in order to build a new way forward for digital banking." Wangchun Ye, Chairman of OneConnect A subsidiary of PBOC, Chengfang Financial Technology is entrusted with the construction, operation, and maintenance of the digital banking system for China's central bank. The company performs resource scheduling and operation management for PBOC's network and data centers, and operates its data transfer management platform to provide the entire system with services ranging from network communications and infrastructure to systems maintenance and data transfer. Its partnership with OneConnect promises to accelerate the digitalization of China's banking sector, and cements OneConnect's position as a leader in digital financial development. As the world's leading technology-as-a-service platform for financial institutions, OneConnect harnesses cutting-edge technologies to improve efficiency and services for banks, government agencies and exchanges, while also reducing costs and minimizing risk. OneConnect helps providers accelerate digital transformation across four key pillars: the construction of a digital ecosystem, the cultivation of green finance, the integration of the Greater Bay Area, and the continued development of the FinTech sector. In addition to its partnership with Chengfang Financial Technology, OneConnect has established strategic alliances with the China Securities Regulatory Commission's Technology Supervisory Bureau, Insurance Asset Management Association of China, and China Insurance Asset Registration and Trading System Co., Ltd. The company has also successfully implemented major FinTech projects around the world, including the Hong Kong Stock Exchange's FINI IPO settlement platform, Singapore Stock Exchange's ESG platform, a corporate financing platform for small to medium-sized enterprises in the Guangdong province, Hong Kong's trade finance linkage platform, Guangxi Province's cross-border digital finance platform, the Hainan Provincial Financial Supervisory Bureau's smart integrated financial services platform, and more. OneConnect has also been aggressively exploring and leading the development of privacy computing in recent years, leveraging its advantages in privacy computing technology and cooperation practices. The company has won China Merchants Bank's bid for the "Privacy Computing Platform Interoperability" project, and the two companies will begin working together closely to build China's first multi-party cross-heterogeneous privacy computing platform. The project will be applied to financial scenarios such as financial risk control, anti-fraud, and blacklist query. By collaborating on this platform, both parties will jointly activate the full potential of big data and boost customer business value on the basis of meeting regulatory data privacy protection regulations. Looking ahead, OneConnect plans to continue exploring new partnerships with domestic and foreign organizations, government agencies and financial exchanges; strengthen its technological innovation and IP protection; and improve its R&D capabilities in technology in order to accelerate the digitalization of the global financial services sector.

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BUSINESS STRATEGY

SetSchedule Announces New Innovative App Tools for Small Businesses

SetSchedule | December 18, 2021

SetSchedule, a technology company that has had great success in the real estate business development space, is releasing an update to its app. This update will add onto the app’s current features, and is set to be a place where entrepreneurs and solopreneurs can network, market their business, and collaborate on projects with other professionals from any industry. “I’m extremely excited to challenge and disrupt an industry of social networks that produce a lot of garbage content and non valuable connections for professionals. Tie that with the newly created software as a service tools, I believe SetSchedule is positioned to grow very fast and support solopreneurs in a totally new innovative way." CEO Roy Dekel, SetSchedule Features such as “Ask the Pro” allows users to ask questions geared towards certain professions to connect qualified professionals. By having users select areas of professional expertise this will connect users with experts that are outside of their personal network. The “Broadcast” feature is meant for users to conduct digital marketing locally by selecting a geographic area and geo targeted location, connecting solopreneurs with their target audience.. The Irvine based company has experienced rapid growth, going from under 50 to over 200 employees, winning numerous awards, and has been featured on the INC 5000 for three consecutive years. About SetSchedule: SetSchedule is an American technology company which disrupts the real estate industry by leveraging SAAS and consumer cloud communication products, artificial intelligence, and autonomous business flow applications to eliminate the struggle behind establishing a connection. SetSchedule's goal is to innovate the real estate industry with cutting-edge tools that allow for better connections, easier communication and stronger relationships between consumers and their local experts.

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FINANCE

Slice Adds Remodeling Contractors to Small Business General Liability Insurance Coverage

Slice | April 04, 2022

Slice Labs Inc. (Slice), a technology company with the first on-demand insurance platform, announced the addition of remodeling contractors to the covered classes under the AERO Insurance brand. Agents can now quote, bind and issue for 70 different classes in 42 states + D.C. In the fall of 2021, Slice and Appalachian Underwriters partnered on the development and distribution of Contractors General Liability Insurance via the new brand AERO Insurance. Data from the first quarter of 2022 continues to show tremendous growth with 46% month-over-month growth. “With remodelers being such a large group of the contractors industry, we’re very pleased to offer coverage. Not only do we want agents to have the best digital experience, we want them to be able to have access to the widest set of coverage, including hard to place coverage.” Tim Atta, founder and CEO of Slice Labs About Slice Labs Slice Labs Inc. is building the future of insurance by enabling insurers, MGAs, and technology platforms to build intelligent and intuitive, on-demand digital insurance products via Slice’s cloud-based platform. Founded in 2015 and headquartered in New York City, Slice has been consistently recognized as an insurance and technology leader by industry publications, awards, and Tier 1 publications. About Appalachian Underwriters, Inc Appalachian Underwriters, Inc. (AUI) offers a leading insurance wholesale brokerage outlet for agents looking to bring their clients a broad selection of quality products. AUI is a Nationwide MGA that specializes in Workers'​ Compensation, Commercial Specialty, and Personal Lines products. The company also offers a brokerage unit that expands their product offering beyond their Managed Programs and allows them to place large specialized risks. AUI’s “one–stop” approach affords the convenience of dealing with one sales and administration staff, while gaining access to a wide range of high quality companies. Appalachian Underwriters is a wholly owned subsidiary of Acrisure.

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Spotlight

Get Top 20 Best Small Business Ideas in India. These 20 Small Business Ideas for Small Investment & Without Investments in India Country. In INDIA if you are searching for Best Small Business Ideas then, you are at right place. These 20 Best Small and Good Business Ideas helps you out for finding your perfect business. So, Watch this video and share it with your friends.

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