New Small Business Report: Severe Economic Impact on Nation’s Small Business Community

National Association for the Self-Employed

With the novel coronavirus impacting small business community, the National Association for the Self-Employed (NASE) today highlighted the survey results of the State of Small Business Report conducted by the Small Business Roundtable and Facebook, which indicates that small and medium-sized businesses in the United States are being hit hard by the COVID-19 crisis. NASE has … [More]

2.4M Jobless Claims Last Week, Making 9-Week Total more than 38M

U.S. Department of Labor

In the week ending May 16, the advance figure for seasonally adjusted initial claims was 2,438,000, a decrease of 249,000 from the previous week's revised level. The previous week's level was revised down by 294,000 from 2,981,000 to 2,687,000. The 4-week moving average was 3,042,000, a decrease of 501,000 from the previous week's revised average. The previous week's average … [More]

Updated Economic Projections See Resumption Downturn

Congressional Budget Office

The Congressional Budget Office has updated its economic projections through 2021 to account for the 2020 coronavirus pandemic. CBO’s latest estimates, which are based on information about the economy that was available through May 12, update the preliminary projections that the agency made in April. In developing those projections, CBO reviewed many private-sector forecasts. … [More]

Business Solutions Surfacing from the COVID-19 Pandemic

by Jeff Friesen

As COVID-19 continues its worldwide spread, there is no crystal ball to predict how or when this will end. While public health and safety remains front and center, and rightfully so, the disruption the virus has waged on businesses is hard to ignore. While industries such as sanitation services and technology providers are faced with overwhelming demand and potential … [More]

COVID-19 Buying Behavior

by Commerce Signals

The bottom fell out, of course, on many U.S. consumer spending categories during the month of March. But others, like grocery, drug and discount retailers, actually climbed significantly last month as consumers cooked at home and stocked up their pantries and medicine cabinets for an extended stretch of sheltering in place. Meanwhile, consumers were doing much more of their … [More]

Pandemic Ends Longest Economic Recovery

by Dean Baker

The Gross Domestic Product shrank at a 4.8-percent annual rate in the first quarter, as the shutdowns in the second half of March more than offset the modest growth earlier in the quarter. This was the sharpest fall since the 8.4-percent decline reported for the fourth quarter of 2008, following the collapse of Lehman. The biggest factors in the decline were a 10.2-percent … [More]

2020’s Best Business Credit Cards & Bank Accounts

by Mike Hunter

WalletHub’s Coronavirus Small Business Survey — which gauged business owners’ attitudes on government assistance, plans to reopen the economy and more — found that 87 percent of small business owners are struggling due to the coronavirus. Addressing this, the personal-finance website today announces its editors’ selections for the best business credit cards and best business … [More]

New Markets Tax Credits

Jeff Friesen

Whether it’s time to expand to a new market, expand operations or open a new location, most businesses need a loan at some point. Traditional loans work well for many financing needs. But there are other creative financing options — sometimes with more favorable terms — that a businessperson should consider for his or her next project. There are many ways to finance growth … [More]

Managing Risk for Business Owners

by Tim Brunner

People often associate “risk” with big things, like a fire, accident or major theft. After all, the definition of risk can be most commonly described as “a situation involving exposure to danger.” But risk can be more subtle, like rising raw material prices or a slow sales period. And what about a business’s risk of losing its top salesperson or its most experienced … [More]

Financial Considerations before Launching a Startup

by Lennard van der Feltz

Even seasoned entrepreneurs will tell you taking your startup from a pipe dream to an actualized business can be an overwhelming process — requiring a serious time and financial commitment. One might have the right idea. One might have the drive. One might even have the initial funding to get one’s startup off the ground. But what really sets an entrepreneur up for long-term … [More]