Small Biz Flash

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 Last week, the official second quarter GDP number came in, and as suspected, the economy shrank. But what has economists most concerned is persistent inflation. Consumer confidence is still on a downward trend. So far, cons...

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 Last month, the US Department of Labor announced it was going to engage in new rulemaking on determining employee or independent contractor status under the Fair Labor Standards Act. https://blog.dol.gov/2022/06/03/misclass...

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 Inflation is roaring and on the top of everyone’s mind.  The CPI and PPI for June both exceeded experts’ predictions. The Atlanta Federal Reserve’s GDPNow tracker currently estimates that the US gross domestic product contr...

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 The CBIZ Small Business Employment Index saw a seasonally adjusted increase of 0.29%.  In June, 29% of companies increased their headcounts, while 17% decreased their staffing. https://www.cbiz.com/insights/articles/article...

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 Late last week, the Atlanta Federal Reserve’s GDPNow tracker estimated that the US gross domestic product contracted by 2.1% in the second quarter. Consumer spending, which has an immediate impact on many small businesses,...

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/ . ----------  NEWS ROUNDUP 1 Small businesses are fearful a new climate rule under consideration by the US Securities and Exchange Commission could have dire consequences on sales, by driving away their larger, corporate customers. https://www.wsj.com/...

NEWS ROUNDUP 1  The vast majority of small business owners, 83%, are expecting a recession, according to the Small Business Recovery Report issued today by Kabbage. https://newsroom.kabbage.com/news/new-kabbage-survey-shows-80-of-u-s-small-businesses-are-confident-they-could-withstand-a-u-s-economic-recession/ ----------  2 Rent costs are going up.  52% of small businesses have experienced rent hi...

NEWS ROUNDUP 1 The top story this week continues to be the overall state of the economy, as it has an obvious impact on small business.  A slew of data came in over the last few days, almost all of it negative. First, the Consumer Price Index, a widely used measure of inflation, surged 8.6% in May from a year ago.  Second, partially fueling the red-hot inflation, is the price of gasoline, which is...

NEWS ROUNDUP 1  Small businesses continued shedding jobs in May, even though the overall job market remained strong.  Businesses with less than 50 employees lost a total of 91,000 jobs, according to the ADP Small Business Report.  https://adpemploymentreport.com/2022/May/SBR/Report ----------   2 Consumers are planning changes to their buying habits to cope with rising costs.  According to a surve...

NEWS ROUNDUP 1 Small business CEOs are growing concerned about a recession, according to a report published earlier this month by the Wall Street Journal and business-coaching firm Vistage Worldwide.  57% of small businesses believe the economy will worsen in coming months.   https://www.vistage.com/research-center/wp-content/uploads/2022/05/WSJ-CEO-Survey-0522.pdf ----------  2 As gas prices cont...

NEWS ROUNDUP 1 The Small Business Administration is offering a great opportunity for free, executive-level training through its T.H.R.I.V.E. Emerging Leaders Reimagined initiative. https://sbathrive.com/ ----------  2 Small businesses in the manufacturing sector continue to be more optimistic about recovering from the pandemic’s economic hardships than their peers in the services sector. https://w...

Small businesses increased both spending and deposits from April 2021 to April 2022, according to a new publication by the Bank of America Institute.  https://business.bofa.com/content/dam/flagship/bank-of-america-institute/economic-insights/small-business-checkpoint-may-2022.pdf ----------  Indeed.com’s 2022 State of Small Business Hiring Report found that small businesses are struggling to keep...

Small businesses actually lost jobs last month, even though the overall job market remains strong.  The culprit?  Employees are going to larger companies that can pay higher salaries. https://adpemploymentreport.com/2022/April/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-April2022-Final-Press-Release.pdf https://adpemploymentreport.com/2022/April/SBR/SBR-April-2022.aspx https://www.goldmansachs.com/cit...

Small businesses continue to grapple with inflation.  According to a newly released poll, 93% of owners revealed their companies are being substantially or moderately impacted by rising prices. As bad as it is now that the vast majority of companies are seeing inflation take a bite out of their income statement, more trouble could be on the horizon, because economists worry about consumer behavior...

The metaverse is a hot topic, but few really understand it.  In a poll, 48% of people had never even heard of the term “metaverse.”  But small business leaders need to prepare now for the coming hypersonic growth of the virtual world. Amazon is making two changes that will impact small business merchants. National Small Business Week is May 1-7, and your small business can tap into some resources...

Strategies small business owners and managers can use to cope with cost increases. If you would like to contact us, we'd love to hear from you!  Please email Adam at adam@smallbizflash.com. ---------- Email me at adam@smallbizflash.com . Please give me feedback on the podcast. Show web site:  www.smallbizflash.com  

85% of small businesses experienced financial challenges in 2021, up from 66% in 2019.  At the same time, small businesses saw a reduction in the rate at which they were getting their full funding needs met - from 51% in 2019 to 30% in 2021. Alternative financing strategies. Other current headwinds facing owners and managers - including supply chain challenges and new hire ghosting. If you would l...