*By Carlo Versano*
Shopify, the Canadian e-commerce and point-of-sale software company that built a small empire helping small businesses go online, is now expanding in downtown Los Angeles with its first brick-and-mortar space.
The space is less "store" and more "community space for entrepreneurs," said Shopify ($SHOP) product boss Satish Kanwar.
"Our goal is to make entrepreneurship more accessible," he said Thursday in an interview on Cheddar.
The space will be open seven days a week and feature workshops and classes with Shopify experts; host lessons on merchandising, marketing, and photography; and facilitate one-on-one appointments that merchants can book, à la Apple's ($AAPL) Genius Bar.
Downtown L.A. was the obvious location for planting the first brick-and-mortar flag in the ground, Kanwar said ー given how many Shopify merchants are from the Los Angeles area (10,000, by his count, and over 600,000 worldwide).
But the concept can be tailored to any area with a healthy population of small business and start-ups.
"Entrepreneurship can be difficult and hard at times," Kanwar said.
Shopify wants to provide a service for existing customers and attract a pool of new ones ー some of whom may not even know the service exists but may see the space and think about that business they've always wanted to start.
Of course, it's also indicative of a move into physical retail "experiences" for brands that were once synonymous with e-commerce operations. Sure enough, Kanwar used the "experience" buzzword to describe how he sees people interacting with the Shopify space. By having a retail footprint that isn't purely transactional, people can "learn about what you stand for," he said.
For full interview [click here](https://cheddar.com/videos/a-look-at-the-future-of-retail-with-shopifys-satish-kanwar).
Jade Warshaw, personal finance expert and co-host of 'The Ramsey Show, joined Cheddar News to provide tips on how to save on engagement rings and to look at cheaper alternatives.
As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
A Dutch recruitment firm found that only 42% of employees who have been laid off this year actually received severance, down from 64% who received severance in 2021.
Direct deposit delays due to a human error that happened last week have resulted in some customers still not receiving their paychecks.
Nestle is reportedly investing $100 million in food delivery startup Wonder Group.
Arturo Béjar testified before a Senate subcommittee on Tuesday about social media and the teen mental health crisis, hoping to shed light on how Meta executives, including Zuckerberg, knew about the harms Instagram was causing but chose not to make meaningful changes to address them.
Nike is suing two of its competitors for alleged patent infringement.
Uber missed analysts' projections for earnings per share and revenue this past quarter. Cheddar News takes a closer look at the numbers and explains what to expect for the rest of the fiscal year.
Cheddar News breaks down some of the top business stories to look out for, including WeWork's bankruptcy filing and fast-fashion retailer Shein reportedly expecting a $90 million valuation upon its market debut. Plus, a new EV truck will have a backup gas generator.
WeWork has filed for Chapter 11 bankruptcy protection.
