Will Rhode Island’s Economy Receive A Boost from Marijuana Legalization?

Legalizing marijuana is a conversation that is always being talked about nationwide, and now the chatter has made its way to smallest state in the country.

Check out smallbizri.wordpress.com for the latest news on small businesses and our most recent blog post, which has to do with legalizing marijuana in Rhode Island and how that will affect the economy.

VID

Telling An Untold Story In the Digital Age

VID

Via Flickr/ Graham Stanley 

The journalism landscape is not changing anymore; it has basically changed to a fully digital industry. Newspapers will soon be only online, and so will other types of publications, but the digital age gives opportunities to tell stories in many different ways.

Podcasts, video packages, slideshows, and other interactive features are making life easier for journalists to convey a story. Sometimes, you want to hear emotion when you are in the car or listening on your phone, which is why audio podcasts can be effective. If you want to see people’s emotion and facial expressions , especially if the topic is very controversial or intense, then maybe a video podcast is the way to go.

Podcasts are defiantly one of the best ways to tell a story because it is was to access, and they really convey the story, especially if you can edit audio and video.  Learning all of these aspects of digital journalism in my classes, I realize how important it is to be good at almost every aspect of digital journalism.

You can now live-blog today when you are encountering breaking news, or you can use Twitter, or even Periscope, which is used for live-streaming. We have all this access to great tools online, and all of these tools are making us better journalist and better storytellers.

Medical Cannibas

Medical Marijuana Might Not Be Great for Business YetMa

Medical Cannibas

Via Flickr/ Neeta Lind 

Medical marijuana is a topic that many people like to talk about, and there are few local dispensaries in Rhode Island, but are the dispensaries thriving and what is next for medical marijuana?

Marijuana is not yet fully legal in Rhode Island, but medical marijuana is. States across the country are starting to allow the recreational selling of marijuana, and more states should be allowing the recreational use in the next coming months.

The three dispensaries in Rhode Island include the Thomas C. Slater Compassion Center in Pawtucket, Greenleaf Compassionate Care Center in Portsmouth, and the Summit Medical Compassion Center in Warwick. These three places are the only medical marijuana dispensaries in Rhode Island, and there will be no other dispensaries opening.

Stay tuned for the next video package about medical marijuana in Rhode Island, you can find it at smallbizri.wordpress.com

Digital Advertising

Digital Advertising Could Help Small Businesses

Digital Advertising

Via Flickr/ Daniel Oines 

Digital advertising: http://www.nytimes.com/2015/04/27/technology/packed-field-stokes-competition-for-digital-ad-dollars.html

Digital dollars are sometimes the only way a company can make money today, especially online companies.

Digital Content NewsFronts is hosting an even to attract advertising dollars online, and many big companies from around the world will be attending this event because companies need to strengthen their digital advertising revenue.

Television is still the juggernaut in the United States market, with $68.5 billion of ad spending last year, but the amount spent on digital video ads increased to $5.8 billion in the United States in 2014. This is expected to grow to $12.8 billion by 2018, according to the research firm eMarketer.

Since, the rise of digital advertising in the past couple years, businesses around the country are starting to find revenue through Internet advertising. A company like BuzzFeed, relies almost entirely on Internet advertising and some companies are looking to only rely on digital advertising.

Small businesses could receive help from small businesses because of the demand of digital advertising as of late, and this could be a huge help for small businesses in the country, and in Rhode Island.

Crowdfunding

Crowdfunding Could Be the New Risky Answer for Small Businesses

Crowdfunding

Via Flickr/ Rocío Lara 

qz.com: http://qz.com/389001/once-idealistic-crowdfunding-is-now-an-unholy-hybrid-of-retail-investment-and-risk/

Quartz published an article on April 24 about how crowdfunding may seem risky for small businesses, but the idea might have some real value in the future.

Dave Bogaty, is the example that is highlighted in the article. He successfully used Kickerstarter.com, a crowdfunding website to raise money to make coffee machines for his clients. He received $370,000 in a couple days, but his company ended up folding because he could not supply the demand.

The article highlights how people and companies have used crowdfunding to try and start a business or raise money. Sometimes it campaigns are success, and like Bogaty, sometimes it is a failure.

Worldwide crowdfunding reached $16.2 billion in 2014, up from just $6.1 billion the year before, according to research and advisory firm Massolution. There are different types of crowdfunding that comes into account when looking at worldwide crowdfunding, but the number do not lie; crowdfunding is certainly growing.

Businesses and people everywhere are starting to adopt crowdfunding and use it for their businesses, even countries like the United Kingdom sees the positives of crowdfunding.

Although, in the end, crowdfunding does not work for everybody, but it could be a fundraising answer for some companies and people

Earth Day Helping Small Businesses

5 Things to Make Your Business More Green

Earth Day Helping Small Businesses

Via Flickr/ Photologue__np 

HuffingtonPost Article Link: http://www.huffingtonpost.com/saudia-davis/5-ways-your-business-can-_b_7109244.html

Saudia Davis, founder and CEO of GreenHouse Eco-Cleaning published an article on HuffingtonPost.com about five things that can make a businesses more environmentally-friendly.

The article was published on April 22, which is national Earth Day. The five things that she lists in the article include changing your paper, find out how much energy you are using, change your lights, make your computers sleep, and try an encourage “green transportation.”

All five of those things will benefit any business environmentally, and help businesses save money in the long run, according to Davis. She also stresses that everyday should be Earth Day because everyone should care about the environment, and these five things can help the environment tremendously.

Small businesses in Rhode Island that are just starting up should consider these five things, and so should other businesses around the world.

Go to smallbizri.wordpress.com for more coverage on small businesses in Rhode Island.

Small Businesses Are the Backbone of the Rhode Island Economy

Bristol, R.I.___ Small businesses have a huge impact on the Rhode Island economy, and many people seem to know how important small businesses are to the country in general.

Jerry Dauterive is a professor of economics at Roger Williams University, and he believes that small businesses are not just vital to Rhode Island, but they are vital to the rest of the United States. Dauterive talked about how small businesses have many different definition depending on who one is talking to.

“The SBA has established two widely used size standards – 500 employees for most manufacturing and mining industries and $7.5 million in average annual receipts for many non manufacturing industries,”according, to the U.S. Small Business administration, in regards to what the actual definition of a small business is.

Small businesses continue to be a huge contributor to the economy in Rhode Island and stay tuned for more updates on local small businesses.

Spring Winter Closed Northeast Businesses

Spring is the Time for Northeast Small Businesses to Thrive

Spring Winter Closed Northeast Businesses

Via Tallent Show/ Flickr

Small businesses in the northeast have been waiting for Spring since Winter started because the snow has affected the performance of many small businesses.

An article from ABC6 that was posted at the beginning of March talked about how some small businesses in Massachusetts were struggling due to the snow.

“In fact, things are so bad this winter that the chamber of commerce tells us, that some businesses are off by 40 percent,” said Chief Political reporter Mark Curtis from ABC6.

As warmer weather approaches, small businesses everywhere in the northeast are hoping to make up for inclement Winter days and nights.

Small businesses are the “backbone of the Rhode Island economy,” according to Rhode Island Governor Gina Raimondo and warmer weather should help small businesses thrive in Rhode Island and the rest of the northeast.