Tag: small businesses

Late Holiday Shoppers are a Key Demographic for Small Businesses | Small Biz Trends

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As small business owners wrap up an intense Black Friday and Cyber Monday season, they should brace for a significant wave of late holiday shoppers. According to the latest Shopify-Gallup Holiday Shopping Pulse, a substantial portion of U.S. consumers, nearly 49%, intend to do most of their holiday shopping in December. This trend presents a unique opportunity for small businesses to capitalize on the late shopping surge.

The survey, which included 1,888 U.S. adults, revealed some intriguing insights. Notably, 16% of participants admitted they wouldn’t begin their holiday shopping until December, with a striking gender divide: 21% of men versus 11% of women. Additionally, younger shoppers, particularly those under 50, are more prone to delay their shopping, with 53% stating they’ll do most or all of it in December. This behavior is primarily driven by financial considerations, as younger shoppers often need to accumulate enough funds to buy gifts.

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What Are Paid Leave Policies? | Business News Daily

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Paid leave encapsulates several benefits, allowing employees to take a leave of absence for approved reasons. But what do these policies mean for workers and small businesses? Are they affordable, or do they unbearably balloon entrepreneurs’ budgets? Do they contribute to staff well-being and productivity? Read on to learn how paid leave policies can help your business.

What are paid leave policies?

Paid leave policies are regulations that extend job protection and paid time off (PTO) to workers for specific situations, such as illness and family emergencies. Different kinds of paid leave policies exist, including sick leave, family leave and parental leave. The exact provisions of these laws tend to vary widely locally and by state. Here’s a quick look at two of the most common types of paid leave policies.

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Government Grants for Small Businesses | Business News Daily

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Find out how you can take advantage of these government grants to start or grow your business.

  • Government grants are free federal, state and locally funded programs to help launch or grow small businesses.
  • Only apply for grants for which you are eligible and ensure you meet all the grantor’s conditions.
  • Increase your grant approval chances by perfecting your resume, working with a prominent local organization or consulting your city or county economic development council.
  • This article is for entrepreneurs and small business owners hoping to secure a government grant to help launch or grow their organizations.

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3 Ways To Keep Customers at Your Small Business Happy | Cool Business Ideas

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We know that it can be a challenge at times to keep all your customers happy. That’s why we are offering up a few tips to keep in mind when it comes to fostering and maintaining a quality relationship with your customers!

Go The Extra Mile

Creating an atmosphere your customers feel comfortable in has such a positive impact on your business. You want to keep them there longer, and you want to keep them returning! In order to do this, you need to stand out among the rest. Consider the question: how can I be different than my competition? Then, ask yourself: what can I do to keep my customers happy? You can look at businesses like Inhstl.com which is a natural health facility that is uncommon in the area they are in. What are other businesses doing that works for them, and how can you do it better?

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Mastercard Installments Buy Now-Pay Later Coming to More Small Businesses | Small Business Trends

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Mastercard Installments Buy Now-Pay Later Coming to More Small Businesses

Mastercard are seeking to meet the demand for powerful Buy-Now-Pay-Later (BNPL) schemes, especially with familiar and trusted brands. Their new partners will be providing support for the program, including US-based financial institutions such as Cross River, Live Oak Bank, MOCA Financial and WebBank, as well as others from the UK and Saudi Arabia.

Consumer Protections and Data Transparency

As well as providing more payment options, Mastercard Installments will also focus on responsible lending practices to support consumers with an enhanced set of protections such as data transparency and insight-driven programs for product improvement.

Using technology, data and insights, as well as their wealth of consulting expertise, Mastercard aims to create a ‘more intelligent way’ to provide installment lending at scale.

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Hourly Wages at Small Businesses Hit Record Level in December | Small Business Trends

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As 2021 drew to a close, the average hourly wage at small businesses locked in at $30, according to the Paychex IHS Markit Small Business Employment Watch.

The December data shows hourly earnings growth improving to 4.27%, which is the highest level since Paychex began reporting 10 years ago.

Hiring at small businesses also closed 2021 on an optimistic stat, improving 7.31% from the prior year, according to the same report.

Hourly Wages at Small Businesses Hit Record Level in December

Paychex CEO Martin Mucci summed the stats.

“Employers are responding to the pressure of the tight labor market by raising wages, and workers are benefitting,” Mucci said.

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Time and Attendance: Which Timeclock Is Right for You? | businessnewsdaily.com

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Not all timeclocks are compatible with every time and attendance system, so the one you select may be a factor in the system you end up using.

  • Timeclocks help business owners maximize employee productivity and minimize time theft.
  • Types of timeclocks include punch cards, RFID, password, biometric, IVR and mobile.
  • You can have your tablets and access control systems double as timeclocks as well.
  • This article is for small business owners searching for the right timeclock for their staff.

Each year, U.S. employers lose $11 billion to time theft. Much of this comes from employees stealing a few minutes each day, which can be prevented with a comprehensive time and attendance system.

As the number of available time and attendance solutions grows, there’s no shortage of timeclock options for your business. You can select either a stand-alone timeclock or a time and attendance system that includes timeclock features. It depends largely on your business and what you feel makes the most sense for monitoring your employees.

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55% of Small Business Owners Say Providing Healthcare is Their Biggest Challenge | Small Business Trends

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More than half (55%) of small businesses say providing health insurance to employees is the biggest challenge they face.

Providing adequate healthcare cover comes ahead of Covid challenges, taxes, and competition from large corporations.

This was the finding of Small Business for America’s Future national survey of small business owners. Small Business of America’s Future is a national coalition of business owners and leaders. The coalition’s aim is to provide small businesses with a voice at each level of government. Its recent national survey asked 827 small business owners their opinions on the cost of health and potential solutions to bring down these costs.

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Biden Changes PPP Loan Rules to Benefit the Smallest Small Businesses | Small Business Trends

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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.”

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Minimum Wages Increase in 25 States in 2021 | Small Business Trends

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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.

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