Silicon Valley Bank’s collapse became the second-largest failure of a financial institution in the country’s history. The bank’s demise could have a long-term impact as it provided financing for almost half of US venture-backed tech and software companies.
Small business owner confidence improved further according to a new survey conducted by the National Federation of Independent Business. This was despite lingering concerns over inflation and difficulties in finding workers.
Source: Yahoo! Finance
Inflation increased slightly by 0.4% in February as expected putting the overall inflation rate at 6%. The Federal Reserve is expected to respond soon with another interest rate hike.
With Daylight Savings starting this month, entrepreneurs can make the most of an extra hour of sunlight. That includes getting exercise, participating in networking opportunities, and taking time for self-care.
The Washington State Department of Commerce recently announced a new $100 million grant program for businesses in the hospitality and lodging industry. The fund is designed to help eligible businesses that suffered losses due to the recent pandemic.
Source: Small Business Trends