President Joe Biden announced Monday that he’s putting in place new rules for the PPP loan program that gives exclusive access to it to Main Street mom-and-pop businesses.
These smallest of small businesses, he said, haven’t gotten a fair shake at aid programs designed to help keep companies from going out of business during the pandemic.
“Small businesses are getting crushed,” Biden said. “Since the beginning of this pandemic, 400,000 small businesses have closed. Millions more are hanging by a thread.”
According to a study by Wolters Kluwer Legal & Regulatory 25 states will raise their minimum wage in 2021, with 21 of those states enacting the increases on New Year’s day.
By the beginning of the New Year, New York and Oregon, which both have regional minimum wage rates, will see the highest wages reaching $15.00 in New York City and $14.00 in the Portland Metro Area effective July 1, 2021.
At the end of the spectrum, the lowest minimum wage rates of $5.15 are in Georgia and Wyoming. However, most employers and employees are subject to the higher federal minimum wage rate of $7.25 per hour.
Content marketing is widely successful for generating new leads and attracting new customers to your business. A full 70% of companies say they invest in content marketing strategy, and 60% say that content marketing is very or extremely important to their overall business strategy.
How to Make Content Marketing Work for Your Small Business
But successful content marketing requires more than simply starting a blog and posting on social media. You need an effective strategy that connects up all your content marketing efforts, and that’s far more challenging. Many marketers still aren’t handling it efficiently, with one study reporting that only 23% of marketers agreed that they are succeeding at managing content across the organization.
If you’re part of the remaining 77%, don’t panic. We have some essential tips for boosting your content marketing strategy.
Problems with Free Accessibility Plugins
A 2018 statement by the Department of Justice confirmed that ADA requirements to make your business accessible to customers with disabilities applies to your internet presence as well as your physical stores. Recent headlines about the Supreme Court ruling against Domino’s Pizza for running an app that can’t be used by blind pizza-lovers only underlined the importance of this issue.
Web accessibility should concern every small business owner
Web accessibility isn’t just for the big fish to worry about. Disability activists, tired of waiting for companies to comply with web accessibility guidelines like WCAG 2.0, are increasingly sending lawyer demand letters and initiating lawsuits against small businesses that have an online store or simple web presence that doesn’t comply with ADA title III requirements for web accessibility.
The tariffs the Trump administration is about to impose on wine, liquor and cheese from Europe couldn’t come at a worse time for small retailers.
“It’s kind of scary in the sense that we’re getting to the holiday season,” says Joseph Kakos, owner of Kakos Fine Wine & Spirits in Birmingham, Michigan. “October, November and December are the time when you really make your money for the year.”
No one expects consumers to completely abandon Bordeaux and other wines from France, Scotch whisky or cheeses like Parmesan or Roquefort when the 25% tariffs take effect Friday. Still, Kakos says, shoppers may turn price conscious just as shelves are well-stocked for the holidays.
A wide range of new technologies are making it easier than ever to start and run a small business. From online businesses to local businesses to solopreneurs enterprises like freelancing and consulting, there is no shortage of ways to avoid the corporate rat race. Here are 5 types of technology that will have an impact on the future of small business.
When entrepreneurs are first starting out, they usually are not thinking of “rocking the boat” when it comes to marketing. Yet a very creative promotion can work wonders for a new business, generating a positive buzz that will get it noticed.
To find out which approaches work best, we asked 10 entrepreneurs from YEC Next and Young Entrepreneur Council this question: Q: What is one out-of-the-box promotion that worked wonders for your fledgling business?
Often in life, we wait until a change in circumstances to make a big decision. Exit planning is an example of something so many entrepreneurs put off. In business, our focus is firmly on the here and now decisions: marketing, HR, inventory, cash flow, etc. It doesn’t feel like there is the time or the impetus to create an exit strategy, especially if you don’t plan to sell soon.
But, you can’t be complacent about exiting your business. A study by Securian Financial revealed that 72% of small business owners have no exit strategy at all. The reality is it can take years to execute a successful exit, so the endgame needs to be in your mind from the start.
As a manager or business owner, it is of the utmost importance to stay on top of industry standards and government regulations. If you don’t, you risk costly lawsuits, might miss out on valuable government grants and tax breaks, and could garner a poor reputation with a jaded customer base.
Review Regulations That Apply Now
It can seem daunting to wade through all the required licenses for your industry and to keep track of when they need to be renewed, but fortunately there are lots of sites that list permits you’ll need for your business by industry or by state. Many government websites also explicitly list rules and regulations for industries such as the liquor and nuclear industries.