Welcome back to SmartBrief on Small Business! In this issue, we will cover:

Starting July 4, the Small Business Administration will double its borrowing limit for small businesses to $10 million, marking the highest cap in the agency's history. This increase is open to all industries and is designed to support significant business expansions, especially for those seeking larger funding. However, the actual amount a business can borrow depends on factors like income, credit history and business location.

The US Chamber of Commerce and Anthropic have launched initiatives to help small businesses adopt AI. The Chamber's Small Business B(AI)sics, backed by a $5 million grant from Google.org, offers free AI training nationwide, while Anthropic's Claude for Small Business connects platforms such as QuickBooks and Canva to streamline operations.

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Hiring skilled individuals to address specific challenges is a better strategy than adding head count based on revenue milestones, writes Lisa Wertzbaugher. The strategy involves identifying bottlenecks that hinder growth and hiring qualified personnel to resolve them, allowing business owners to focus on their strengths. The approach requires investment but promises significant returns by accelerating goal achievement and business expansion.

Small businesses are struggling to navigate the US Customs and Border Protection's Automated Commercial Environment portal to claim refunds on tariffs imposed by President Donald Trump. Megan Sweeney, CEO of Pacific International Bearing, highlights the difficulties small businesses face due to limited resources. The CBP has approved $35.5 billion in tariff refunds but has rejected 19% of claims due to errors on customs entries.

Cash flow management is a challenge for independent retailers, often leading to a cycle of financial strain. Dax Dasilva of Lightspeed emphasizes that modern inventory and payment tools can help businesses understand their margins and manage cash flow more effectively. With rising costs and unpredictable expenses, having a clear financial picture and leveraging alternative lending options are essential for maintaining healthy cash flow and seizing growth opportunities.

According to Gartner, AI will begin generating more jobs than it eliminates as early as 2028. However, this transition is expected to disrupt millions of existing careers, as nearly 40% of companies have already removed obsolete roles due to AI. The report emphasizes that while net job creation is likely, many employees will experience significant career upheaval as organizations restructure and adapt to AI-driven workflows.

Instead of giving all feedback or critiques equal weight, author and former CEO Brendan Keegan suggests developing a "source filter" by asking yourself if you would hire that person to fix a problem or seek out their advice. If not, don't focus on their input. Instead, create a trusted circle of three to five people who have experience and a track record of good judgment to bounce your ideas off of, Keegan writes.

If you're prone to mashing the crosswalk button, the "door close" button in an elevator or adjusting the office thermostat, you may be fiddling with what's known as "placebo buttons" that don't do anything except give you a feeling of control. Cities time most crosswalk buttons to traffic flow; laws require elevators to remain open for a set period to accommodate people with disabilities, and many companies install fake thermostats to minimize complaints. The psychological benefit of perceived control is significant, as studies show it can improve alertness and activity.