When Community Banks Die: How Small Businesses Are Affected | Business News Daily

October 21, 2024October 20, 2024 ~ knjohn ~ Leave a comment

When it comes to financing, community banks have been providing support to small businesses for decades. However, a problem is emerging that’s affecting small business: Community banks are closing and consolidating due to pressure from regulation and an uneven lending playing field. Here’s what to know about how the decline in community banking might affect your small business.

What is community banking?

A community bank is an institution that caters to a smaller, local audience rather than the large national audience of larger banks. These banks typically develop close relationships with their customers, and this personal connection is often a selling point for community banking.

Notably, there’s no one accepted size that defines the term “community banking.” In general, though, a community bank has just a few branches, all of which are located in the same city.

‘Diablo wind’ to descend on California, elevating wildfire risk | Fast Company

October 18, 2024 ~ knjohn ~ Leave a comment

A major “diablo wind”—notorious in autumn for its hot, dry gusts—is expected to whip up across Northern California on Thursday evening, causing humidity levels to drop and raising the risk of wildfires.

Forecasters have issued red flag warnings for fire danger until Saturday from the central coast through the San Francisco Bay Area and into northern Shasta County, not far from the Oregon border.

Sustained winds reaching 35 mph (56 kph) are expected in many areas, with possible gusts topping 65 mph (104 kph) along mountaintops, according to the National Weather Service.

Midwest Chicken Farmers Struggle to Feed Flocks after Supplier Shuts Down | Fast Company

October 18, 2024 ~ knjohn ~ Leave a comment

BY ASSOCIATED PRESS 2 MINUTE READ Dozens of farmers in Iowa, Minnesota and Wisconsin are scrambling to feed their flocks after a struggling organic broiler chicken producer abruptly closed a year after getting a $39 million federal loan.

Pure Prairie Poultry shuttered its Charles City, Iowa, plant after filing for bankruptcy last month. The Minnesota company provided farmers with chicks and feed to raise until the birds were ready to be slaughtered and prepared for sale at the northeastern Iowa processing center.

“We know that our difficulties are causing real hardship for our growers and for others,” Pure Prairie spokesperson Jon Austin said in an email. “And for that we apologize without reservation.”

Creating a Go-To-Market Plan for a New Product: A Hands-On Guide | All Business

October 17, 2024October 16, 2024 ~ knjohn ~ Leave a comment

Achieving product-market fit (PMF) is the holy grail for any business. As founders, we often start our journey with a brilliant idea and the illusion that we already know our target audience. Once we get our first customer, we are naturally inclined to believe that we have found our PMF. Yet, this might be a dangerous mistake.

In a world where more than half of startups close before five years, poor product-market fit is a top reason why a company goes out of business. And even if you don’t fail right away, you might still be one of the 72% of startups facing product-market-related issues, which includes no market need or mistiming that cripple your growth. The median time from idea to PMF is about two years, however. So it’s never too late to change your go-to-market plan and find your market fit.

Time-Tracking Software Pros and Cons: Should Your Business Use It? | All Business

October 17, 2024October 16, 2024 ~ knjohn ~ Leave a comment

Time-tracking software has, in some ways, revolutionized productivity and workforce management. Thanks to automation and centralization, as well as intuitive, convenient employee interfaces, it’s now possible to get a more accurate, reliable read on how your employees are (or aren’t) spending their time.

But is time tracking all it’s cracked up to be? Sure, there are some obvious and subtle advantages, but there are also some weaknesses to keep in mind before making time tracking mandatory.

SBA Exhausts Funds for New Disaster Loans, Urges Continued Applications as Agency Awaits Additional Funding | Small Business Trends

October 16, 2024 ~ knjohn ~ Leave a comment

The U.S. Small Business Administration (SBA) announced today that it has exhausted available funds for its disaster loan program due to the high demand for financial relief following Hurricane Helene.

As a result, the SBA is pausing new loan offers for its low-interest, long-term disaster loans until Congress appropriates additional funding.

However, the SBA is encouraging disaster survivors, including individuals and small businesses, to continue submitting loan applications, with assurances from congressional leaders that more funds will be allocated once Congress reconvenes in November.

30 Mission Statement Examples and How to Write One for Your Business | Small Biz Trends

October 16, 2024 ~ knjohn ~ Leave a comment

In today’s business world, companies face fierce competition in their respective markets. To stand out among competitors, businesses need to have a clear understanding of their goals and objectives. One way to achieve this is through the development of a mission statement. By exploring mission statement examples from some of the leading brands in the world, you will learn what to do and what not to do to create an impactful mission statement for your own business.

How to Use Print Marketing to Reach Gen Z | Business

October 15, 2024October 14, 2024 ~ knjohn ~ Leave a comment

Just when marketers and small businesses have figured out how to market to millennials, a new demographic is capturing their attention.

Gen Z is a budding consumer powerhouse cohort that, according to NielsenIQ, is expected to reach $12 trillion in buying power by 2030. Gen Z is known for being digitally attuned and culturally diverse, and you can’t talk to them the same way you’d talk to other generations. We’ll examine Gen Z’s buying preferences and how businesses can use print media to attract these consumers.

What is Generation Z?

Generation Z, typically defined as those born between 1997 and 2012, now includes individuals in their teens to mid-20s. Many of them have already entered the workforce or are pursuing higher education. According to the NielsenIQ data cited above, by 2030, Gen Z will comprise 30 percent of the global workforce.

Why Should You Hire Someone Without a College Degree? | Business

October 15, 2024October 14, 2024 ~ knjohn ~ Leave a comment

When you’re hiring, you want to find a candidate with a solid work ethic, the right skill set, and values that align with your company’s. If you’re struggling to find the perfect candidate, you might consider widening your applicant pool to include individuals without a college degree.

For certain candidates and roles, real-world experience and soft skills can make up for the lack of a college degree. Read on to discover why you should consider employing someone without a college degree and what to look for in these candidates.

Why you should consider hiring people without degrees

You should never feel pushed into hiring someone who doesn’t have the proper qualifications for the role. However, there are many reasons to consider hiring someone even if they don’t have a college degree.

SpaceX’s Starship landing shown in stunning close-up videos | Digital Trends

October 14, 2024 ~ knjohn ~ Leave a comment

SpaceX has shared footage, which you can watch below, showing a spectacular close-up view of the Starship’s launch and landing on Sunday.

The mission involved the fifth test flight of the Starship, comprising the first-stage Super Heavy booster and upper-stage Starship spacecraft.

The first video shows the 120-meter-tall vehicle roaring skyward from SpaceX’s facility in Boca Chica, Texas, creating 17 million pounds of thrust at launch as it goes.