A recent study of the 100 largest metro areas in the U.S. determined one Southern state as having three out of the top five best cities to start a business, due to a low unemployment rate and a highly educated workforce. On the flip side, three California cities ranked at the very bottom.
With October being Employee Ownership Month, many small businesses are encouraged to explore the benefits of having their team members be more than just paid staff. From increased profits to a more motivated workforce, employee ownership can be a win win solution for everyone.
Bank loan approvals for small businesses rose from August to September signaling an increase in positive outlook for the economy and employment trends. Non-bank approvals, including from alternative lenders, grew even higher.
Source: Small Business Trends
With new data, Amazon highlighted the success of the nearly two million small businesses that sell products on its marketplace. This despite growing concerns from lawmakers and watchdog groups on if the mega retailer discriminates against third party sellers in favor of its own product line.
Many businesses continue to suffer from rampant staff turnover due to the pandemic and labor shortages. One small business owner found a solution by providing free childcare services to her employees.
Source: Fast Company