Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the … [More]
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Third-Quarter GDP Record Increase on Heals of Worst in Second Quarter
U.S. Bureau of Labor Statistics
SBA Achieves Historic Small Business Lending for Fiscal Year 2020
U.S. Small Business Administration
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the … [More]
$7 Million Announced for Housing and Rental Assistance
State of Arizona Office of the Governor
Governor Doug Ducey announced $7 million to expand available rental assistance and help keep people in their homes. The funding comes from the Crisis Contingency and Safety Net Fund, established in March through a bipartisan state budget agreement that added $50 million for Arizona’s COVID-19 response. “Ensuring Arizonans have safe, reliable housing during this pandemic is … [More]
Local First Arizona Launches We Rise Black Business Accelerator Program
Local First Arizona
Local First Arizona is expanding on its work of building an inclusive, diverse local economy through a new initiative, the We Rise Business Accelerator program. Tailored to Arizona’s Black-owned businesses, at all stages of development and all sectors, We Rise will equip businesses with the entrepreneurial skills and resources to thrive and become part of a larger network of … [More]
New USA-Made COVID-19 Tests Replace Invasive Nasal Swab Test
USA Rapid Test
The improper use and application of COVID-19 nasal swab PCR tests are endangering people’s health, while rapid antibody tests are giving too many false negatives and delaying the reopening of American businesses. The United States economy is still operating about 20% below where it was in early March and experts don’t anticipate any major economic traction until 2021. Getting … [More]
EN NEGOCIOS: Destacar su negocio. 5 consejos para ayudar a su pequeña empresa a diferenciarse durante COVID-19
por Edgar R. Olivo
La pandemia es una bola de demolición para la economía estadounidense y, con ella, se produjeron muchos cambios nuevos en la vida cotidiana, especialmente en la forma en que los consumidores gastan su dinero y su tiempo. Las consecuencias positivas han llevado a los consumidores a profundizar sus relaciones con sus comunidades locales mientras se enfocan en dónde gastar su … [More]
Stand Out from the Crowd. 5 Tips to Help Differentiate Your Small Business during COVID-19
by Edgar R. Olivo
The pandemic is a wrecking ball to the American economy and with it came many new changes to everyday life, particularly on how consumers spend their money and time. The positive consequences have led consumers to deepen their relationships with their local communities while focusing where to spend their money. This new reality sets the stage for small businesses to rise up and … [More]
Amazon Promotes Over 35,000 Employees Across North America, Opens 100,000 New Seasonal Jobs Heading Into the Holidays
Amazon
Amazon announced it has promoted more than 35,000 Operations employees in 2020, that 30,000 employees have taken advantage of Amazon’s Career Choice program, and that it’s creating an additional 100,000 seasonal jobs. With more than 12 million Americans out of work according to the U.S. Bureau of Labor Statistics these new seasonal roles in several locations across the US and … [More]
Coming Soon: 2021 Transaction Privilege Tax License Renewals
Arizona Department of Revenue
The Arizona Department of Revenue (ADOR) is sending renewal letters to businesses next month to renew their Arizona Transaction Privilege Tax (TPT) License. You must renew on or before January 1 every year. Penalties will apply to renewals received after Jan 31. Before renewing, ADOR encourages businesses to update and verify their account information to prevent unnecessary … [More]
Phoenix Expands COVID-19 Business Relief Grant Eligibility, Grants End Oct. 30
City of Phoenix
Small businesses with 25 or fewer employees in the city of Phoenix can now apply for grants up to $10,000 to offset lost revenue during the Covid-19 pandemic. The opportunity to apply for a grant ends Friday, October 30 at 5 p.m. With just over $1 million left to award, the Phoenix City Council approved the expanded eligibility requirements to allow more businesses to … [More]
Deepening Inventory Shortage Slows Home Sales Even Further
Zillow
The housing market's recent record of superlatives marches on according to Zillow's Weekly Market Report1, as prices soared to new heights and inventory reached record lows — down nearly 50% annually in some major metros. The lack of available homes and an overdue seasonal slowdown may finally be pulling pending sales down after a scorching hot few months. Time on market … [More]
Election Day Is Near: Are You Required to Give Employees Time Off to Vote? Likely!
by Joshua C. Black, Esq.
The 2020 presidential election could end up with the highest voter turnout seen in the U.S. in more than a century. As an American, it is not only your right to vote, it is an important civic duty. But, as an employer, are you required to give employees time off to vote? Currently, there are 30 states in the U.S. that require business owners to give workers either paid or … [More]
Cactus Bowl Has New Name, New Sponsor
Fiesta Bowl Organization
With college football Bowl Season coming soon, Guaranteed Rate has joined with the Fiesta Bowl Organization to become title sponsor of the newly-named Guaranteed Rate Bowl. Formerly known as the Cactus Bowl, this is the only postseason matchup between members of the Big Ten and Big 12 Conferences. Guaranteed Rate, one of the largest retail mortgage lenders in the United … [More]
U.S. Weekly Jobless Claims Fall Below 800K, Sign of Leveling Off
U.S. Department of Labor
In the week ending October 17, the advance figure for seasonally adjusted initial claims was 787,000, a decrease of 55,000 from the previous week's revised level. The previous week's level was revised down by 56,000 from 898,000 to 842,000. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week's revised average. The previous week's average was … [More]
Recently-Opened and Coming-Soon Tenants at Block 23 and CityScape Phoenix
RED Development
RED Development continues to see strong demand from companies looking to expand business into Downtown Phoenix as the mixed-used developer announced today a number of recently-opened and coming-soon tenants at Block 23 and CityScape Phoenix, including a variety of new restaurant concepts from locally and nationally recognized restaurateurs and hospitality groups. On Nov. 13, … [More]
Venture Capital Firm Canal Partners adds New Partners, Expands Focus
Canal Partners
Canal Partners, a venture capital firm founded in 2008, has added two seasoned investors as partners, expanded its investment thesis to include high-growth, anything-as-a-service (XaaS) and subscription-based, recurring revenue companies to diversify its portfolio, and is actively seeking investments in Arizona and southern California. The two new partners, Chad … [More]
EN NEGOCIOS: ¿Necesita más clientes? Utilice estas 5 estrategias de ventas para atraer a más clientes durante COVID-19
por Edgar R. Olivo
Con las fiestas importantes a la vuelta de la esquina y una pandemia que está cambiando la forma en que los consumidores gastan, los propietarios de pequeñas empresas deben comenzar a pensar en actualizar sus estrategias de marketing para la temporada. Un informe reciente de Google proporcionó algunas ideas interesantes sobre los comportamientos de los consumidores que pueden … [More]
Need More Customers? Try These 5 Marketing Strategies to Attract More Business during COVID-19
by Edgar R. Olivo
With a few big holidays around the corner and a pandemic that is changing the way consumers spend, small business owners need to start thinking about updating their holiday marketing strategies. A recent report from Google provided some interesting insights on consumer behaviors that can serve as a helpful guide to understand how the market is evolving during COVID-19. Here are … [More]
