Fake reviews can have a devastating effect on a small business. And the Federal Trade Commission (FTC) is ready to hold the people or businesses responsible for this practice accountable. The FTC Says It’s Cracking Down on Fake Reviews Online by committing to protect consumers and competition.
It aims to do this by preventing anticompetitive, deceptive, and unfair business practices and using its Penalty Offense Authority to make advertisers aware of the law and prevent them from breaking said laws.
This practice is being driven by the proliferation of social media and the way it has obscured the distinction between authentic content and advertising. And this has resulted in deceptive and dishonest endorsements becoming commonplace online, thus resulting in the growth of fake online reviews. Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, says, “Advertisers will pay a price if they engage in these deceptive practices.”
Small Business News – October 22, 2021
Yelp, a leading provider of user reviews of products and services, is introducing a series of new features designed to support small service businesses. From the research phase to discovery stage, to writing an online review, the features support users through each stage of a project.
Small business loan approval rates at big banks increased from 13.9% in August 2021 to 14% in September. Approvals from small banks also rose from 19.3% in August to 19.5% in September. The data comes from the latest Biz2Credit Small Business Lending Index.
A lot of small biz owners think that you can only get a review after the customer has purchased their product or service.
A niche market can be defined as a subgroup of a larger market that has its own unique identity, needs, and, preferences making it stand out from the overall market. Niche marketing entails channeling marketing efforts towards first identifying a particular type of clientele and their particular needs. And then attempt to deliver a better solution not being offered by other companies.
According to an economic profile by the U.S. Small Business Administration, American small businesses employed 60 million people in 2019. That figure pre-dates the pandemic, and it’s fair to say small businesses have been particularly challenged over the past 18 months keeping and expanding their workforce, however small.
No matter where you live in the US, The Small Business Expo is coming to a city near you. As a small business owner, you’d be wise to attend. The Small Business Expo is the largest business-to-business trade show, conference and networking event for small businesses in the country. The Small Business Expo is tailored to small business owners, entrepreneurs and start-ups.
Amazon Renewed is one of the best marketplaces if you’re looking to sell refurbished products in good condition. There is a large audience of buyers, so the chances of selling items are quicker than others. Plus, there is more trust among users so that you can ensure a fast sale without risking losing products or money.
Zoho One is adding 5 new apps, 3 new services, 3 updated services, and 7 major platform enhancements. “We’re very excited about what’s included in the updates,” said Taylor Backman, Zoho One senior evangelist/customer advocate. “It’s a unified offering using different technology, for a personalized experience.
This article, “In the News: Online Fake Reviews Coming Under FTC Scrutiny” was first published on Small Business Trends
Source: Small Business Trends