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Measuring Inflation’s Impact On Small Businesses
It’s no secret that the pandemic took its toll on small business owners, but until now the true economic impact has not been measured. Biz2Credit recently published the results of its Small Business Inflation Study that analyzed the revenues and expenditures of more than 140,000 US small businesses from January 2019 to October 2022.
The Federal Reserve is considering another interest rate hike to curb inflation.
The Biz2Credit Small Business Inflation Study identified three distinct phases:
1. The pre-pandemic phase up to Q1 2020.
2. The initial waves of the COVID pandemic before mass vaccination in the first quarter
Readout of Roundtable on Capital Access for Small Businesses
Yesterday, the Administrator of the Small Business Administration (SBA) Isabel Guzmán, the Deputy Secretary of the Treasury Wally Adeyemo, American Rescue Plan Coordinator Gene Sperling, and Deputy Director of the National Economic Council Bharat Ramamurti were joined by US Senator John Hickenlooper (D -CO) and small business leaders, advocates, and mission lenders with particular expertise in reaching minority small businesses to discuss the Biden-Harris Administration’s small business agenda to expand capital access, including newly proposed rules from the SBA and historic investments by the Treasury Department in CDFIs. The group includes non-profit mission lender groups, Community Development Financial Institutions (CFIs),
Small business confidence remains muted in January; the government can help by addressing the rising cost of doing business
Toronto, January 26, 2023 – Small business confidence over the long term remained stable but low, according to the latest Canadian Federation of Independent Business (CFIB) Business Barometer®. The 12-month index gained 0.5 points, reaching 51.4 index points in January.
“Small business confidence seems to be better but there’s still a lot of uncertainty in the economy. For this time of year, the levels are still quite low,” said Andreea Bourgeois, Director of Economics at CFIB. “Many businesses will continue to struggle under pandemic debt and rising prices unless the government takes action.”
Shortages of skilled labour, although cooling off,
Small Business – Salisbury Post
MANILA, Philippines, Jan. 25, 2023 /PRNewswire/ — The Provincial Government of Bataan (PGB) recently signed a Memorandum of Understanding (MOU) with global blockchain leader NChain with the objective of laying down the framework for the establishment of a digital platform for the province in order to streamline current systems and procedures of government services.
Signed by Bataan Governor Joet Garcia and NChain AG Chairman Stefan Matthews, the MOU is pursuant to Republic Act No. 11032 also known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. This partnership aims to digitalize the operations
BBB: Advertising ideas for your small business | business
With so many small businesses emerging every day, it can be challenging to stand out from the competition and attract consumers’ attention.
As a small business owner, you likely already understand the importance of promoting your business, but you may not know where to start or how you should be investing your advertising dollars.
Small business confidence lowest since June
A new survey found that US small business confidence has dropped to a six-month low and found that inflation and difficulty in filling positions were top issues cited.
The National Federation of Independent Business announced Tuesday that its Small Business Optimism Index decreased by 2.1 points in December to 89.8, which is the lowest since June and marks the twelfth consecutive month that the index was below its 49-year average of 98. Small business owners who expect better business conditions over the next six months dropped by 8 points between November and December, falling to a net-negative of 51 percent,
SBA Updates Certification Process for Veteran Owned Small Businesses
The Small Business Administration (SBA) Final Rule on Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) Certification (the Final Rule) takes effect on January 1, 2023. The majority of the changes made by the Final Rule will be implemented through a new regulatory section in SBA’s regulations, which will be located at 13 CFR § 128. Any business intending to seek government contracts that are set aside for VOSBs or SDVOSBs should closely review this significant Final Rule.
Prior to the Final Rule taking effect on January 1, 2023, entities competing for SDVOSB set-aside and sole-source contracts through