Business Owner
Here’s why salaries in the U.S. don’t keep up with inflation
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they’re not keeping up with inflation. Wage growth has been consistent with an inflation rate of about 4.5%. Meanwhile, as of November, […]
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Layoffs mount, and Main Street still can’t find any workers to hire for open jobs
A “Now hiring” sign is displayed on the window of an IN-N-OUT fast food restaurant in Encinitas, California, May 9, 2022. Mike Blake | Reuters When it comes to salary, small business owners generally don’t play in the same league as larger companies. It’s even trickier now in a tight labor market with rising wages […]
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How the pay transparency movement’s success will change the way jobs are listed
A growing number of states and municipalities are enacting salary transparency laws, a stepping stone toward eliminating wage discrepancies based on gender, race and other unfair practices. One immediate result, however, is a patchwork quilt of regulations that can be confusing and challenging for businesses, especially smaller ones, to comply with. It’s something companies have […]
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How much small business owners should pay themselves
Many small business owners have trouble figuring out an appropriate take-home pay as the company expands, and some don’t pay themselves at all. These mistakes can easily come back to bite the founder and the business. Understanding how to pay yourself appropriately — even if it’s only a small amount that grows over time — […]
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Small businesses are still desperate for workers even as other companies slow hiring
While some companies have slowed the pace of hiring due to concerns about an economic slowdown, the demand from small businesses for new workers has not yet shown signs of declining, Paychex CEO Marty Mucci said. “We’re still not really seeing any strong recessionary measures here for small business,” Mucci said on CNBC’s “Squawk Box” […]
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Why Mark Zuckerberg’s other big bet, outside the metaverse, is Whatsapp for business
Facebook’s new rebrand logo Meta is seen on smartpone in front of displayed logo of Facebook, Messenger, Intagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. Dado Ruvic | Reuters WhatsApp is already widely popular with U.S. consumers. Now Meta Platforms is turning more attention to building its small business base. The […]
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The lesson for Main Street from the Walmart, Target inventory failures
Filip Radwanski | Lightrocket | Getty Images The retail battle narrative over the past few decades has cited one of two wars: Amazon and e-commerce against the big bricks-and-mortar retailers, and everybody big against small Main Street entrepreneurs. But in the current confusing economic environment — marked by inflation, supply chain bottlenecks and a volatile […]
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Self-made millionaire Bethenny Frankel on why good ideas are not enough to be successful in business
“I truthfully didn’t even know the word entrepreneur. I was in my late thirties, and I didn’t know the word ‘brand,’ I didn’t know the word ‘entrepreneur,’” Bethenny Frankel, founder of SkinnyGirl, told Sharon Epperson at the CNBC Small Business Playbook virtual summit on Wednesday. Now, just over a decade later, Frankel is a widely […]
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Small business confidence hits all-time low on worsening sales outlook and belief on Main Street recession is here
Fg Trade | E+ | Getty Images Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft landing for the economy. In fact, the majority of small business owners (57%) taking part in the CNBC/SurveyMonkey Small Business […]
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Main Street lands record $154 billion in federal contracts, but fewer small businesses benefit
The federal government awarded $154.2 billion to small businesses in fiscal year 2021, an $8 billion increase from the previous fiscal year, according to data from the Small Business Administration released Tuesday. That’s a record 27.2% of total federal contracting funds, exceeding the government’s goal of 23%. “We are excited to see that more dollars […]
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