Small Biz Flash

Today’s guest is Damon Zick, owner of Life Brand Academy:

Damon’s email:  [email protected]
Damon’s LinkedIn page:  https://www.linkedin.com/in/damonzick/
Life Brand Academy’s YouTube page:  https://www.youtube.com/@lifebrandacademy

----------

NEWS ROUNDUP

1
The number of new jobs created soared to 517,000 in January.
https://www.kiplinger.com/investing/jobs-report-shows-massive-hiring-in-january-what-the-experts-are-saying

January one-month annualized hourly earnings growth for small business employees fell to 2.88%, the lowest level since 2020, according to Paychex.
https://www.paychex.com/employment-watch/#!/news-release/

2
Xero has found that sales growth for US small businesses continued to slow and recorded its two smallest increases of the past 20 months in July 2022 and September 2022.
https://www.xero.com/us/media-releases/xero-small-business-insights-usa-january-2023/

According to an estimate by Goldman Sachs, by the end of this year Americans will have spent two-thirds of the extra savings they were able to stash away during Covid.
https://www.wsj.com/articles/once-flush-savings-accounts-are-starting-to-run-dry-11675691637

3
Walmart has launched an e-commerce site for small and medium-sized businesses called Walmart Business.
https://www.retaildive.com/news/walmart-business-e-commerce-site-small-businesses/640946/

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

Join us at Illuminate 2023 on Tuesday, February 7.  FREE admission!  Details and registration:  https://www.eventbrite.com/e/illuminate-feb-7th-2023-tickets-519912471197

----------

Today’s guest is Jonathan Bill, owner of SBS Accounting & Advisors:
Jonathan’s email:  [email protected]
Jonathan’s LinkedIn page:  https://www.linkedin.com/in/sbsaccounting/
SBS Accounting & Advisors:  https://sbsaccountants.com/

----------

NEWS ROUNDUP

1
Small business owners are more upbeat now than in mid-2022 about inflation, staffing issues, and a possible recession, according to a new poll
https://ioufinancial.com/wp-content/uploads/2023/01/IOU_SMALL-BUSINESS-SURVEY-DEC-2022_12-pg-Booklet.pdf

2
Small businesses have fueled all of the net job growth since the beginning of Covid.
https://www.wsj.com/articles/surge-in-hiring-by-small-business-complicates-feds-effort-to-cool-economy-11674627479?mod=business_minor_pos4

3
Small Business Deduction is set to expire in 2025, making it difficult for small business owners to plan ahead.
https://www.nfib.com/content/press-release/economy/new-nfib-op-ed-in-washington-times-congress-should-make-small-business-deduction-permanent/

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

Join us at Illuminate 2023 on Tuesday, February 7.  FREE admission!  Details and registration:  https://www.eventbrite.com/e/illuminate-feb-7th-2023-tickets-519912471197

----------

Today’s guest is Jonathan Bill, owner of SBS Accounting & Advisors:

Jonathan’s email:  [email protected]
Jonathan’s LinkedIn page:  https://www.linkedin.com/in/sbsaccounting/
SBS Accounting & Advisors:  https://sbsaccountants.com/

----------

NEWS ROUNDUP

1
The producer price index, a wholesale measure of inflation, dropped 0.5% in December.
https://www.cnbc.com/2023/01/18/wholesale-prices-fell-0point5percent-in-december-much-more-than-expected.html

Retail sales fell significantly in December, by 1.1%, the largest in a year.
https://www.reuters.com/markets/us/us-retail-sales-drop-more-than-expected-december-2023-01-18/

Industrial production was also down 0.7% in December, much more than predicted.
https://www.nasdaq.com/articles/u.s.-industrial-production-decreases-much-more-than-expected-in-december

2
According to the US Census Bureau, a whopping 5 million Americans filed new business applications last year.
https://www.inc.com/melissa-angell/small-business-applicants-smash-another-record-in-2022-as-more-americans-turn-to-entrepreneurship.html

3
Apple has announced Apple Business Connect, allowing businesses to verify and edit their listing information and to add photos on apps such as Maps and Messages, as well as information used by Siri.
https://www.theverge.com/2023/1/11/23550077/apple-business-connect-maps-listings

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

NEWS ROUNDUP

1
The rate of inflation, as measured by the consumer price index, cooled in December to 6.5% compared with a year earlier.
https://apnews.com/article/december-2022-inflation-report-72bb938a443ab0500bd72d23f62214ad

In a recent poll of economists by the Wall Street Journal, experts put the likelihood of a recession at 61% in the coming months.
https://www.wsj.com/articles/despite-easing-price-pressures-economists-in-wsj-survey-still-see-recession-this-year-11673723571?mod=hp_lead_pos1

The Index of Consumer Sentiment is currently at 64.6, up from 59.7 in December and 56.8 in November.
http://www.sca.isr.umich.edu/

2
Small company owners’ opinions of the business environment are on the upswing.  Sixty percent of small businesses expect increased revenues in 2023.
https://www.vistage.com/research-center/business-financials/economic-trends/20230110-small-business-confidence-largest-surge-wsj-survey/

3
New data from online lender Biz2Credit finds that loans to small businesses grew very little in 2022.
https://www.biz2credit.com/small-business-lending-index/december-2022

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

NEWS ROUNDUP

1
The December jobs report was released late last week, showing continued strength in the labor market.
https://www.bls.gov/news.release/pdf/empsit.pdf

Small business owners still plan to add workers in 2023.
https://www.nfib.com/content/press-release/economy/nfib-jobs-report-hiring-plans-weaken-in-december-as-labor-shortages-challenge-small-businesses/

The rate of hourly wage growth at small businesses continued to decline to 4.95% year-over-year in December.
https://www.paychex.com/employment-watch/#!/news-release/

The Index of Consumer Sentiment for December from the University of Michigan came in at 59.7.
http://www.sca.isr.umich.edu/

2
Congress passed “The Securing a Strong Retirement Act of 2022” in December, which offers tax credits to small businesses that start an employer-sponsored retirement plan.
https://www.forbes.com/sites/rhettbuttle/2023/01/05/secure-20-5-things-small-business-owners-need-to-know/?sh=6421a1c58bff

3
According to data released by the Small Business Administration this week, and since analyzed and report on by National Public Radio, 92% of the loans issued under the Paycheck Protection Program have been granted full or partial forgiveness.
https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected]. 

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

FEATURE

Get More Customers Through Referrals – Surviving the Economic Downturn – Tactic #5

https://www.nielsen.com/insights/2012/consumer-trust-in-online-social-and-mobile-advertising-grows/

https://news.constantcontact.com/press-release-customer-engagement-major-focus-small-business-technology-according-constant-contact-t

----------

NEWS ROUNDUP

1
Retail sales in November fell short of expectations, down 0.6% from the previous month.
https://www.forexlive.com/news/us-november-retail-sales-06-vs-01-expected-20221215/

Manufacturing also slowed in November by 0.6%, as a reduction in output of cars and trucks offset other factory gains.
https://finance.yahoo.com/news/u-manufacturing-output-dragged-down-151932250.html

AAA reports the national average price for regular unleaded is $3.12/gallon, the lowest since July 2021.
https://gasprices.aaa.com/

2
Business owners remain pessimistic about the near term, according to the November Small Business Optimism Index, which rose 0.6 points in November to 91.9, but is still well below the 49-year average of 98.
https://www.nfib.com/content/press-release/economy/inflation-pressures-ease-slightly-on-main-street-but-remains-the-top-business-problem/

3
Small businesses are taking yet another hit in the aftermath of COVID.  Millions took on loans through the Small Business Administration’s Economic Injury Disaster Loan, or EIDL, program during the pandemic to help keep their doors open, and now the loan payments are beginning to kick in, at a time when the economy is struggling.
https://www.cbsnews.com/news/small-businesses-eidl-loans-repayment-inflation-covid-19-pandemic/

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

NEWS ROUNDUP

1
The producer price index, a measure of wholesale inflation, rose 7.4% in November from a year earlier.
https://www.bls.gov/news.release/ppi.nr0.htm

The consumer price index also eased last month, to a year-over-year increase of 7.1%.
https://www.bls.gov/news.release/cpi.nr0.htm

2
Nearly half of small business owners – 47% – described current conditions as middle of the road for their companies.  A majority, 58% said they expect changes in government regulations to negatively affect their business in the next 12 months, and 61% said they expect changes in tax policy to negatively affect their business over the same time period.
https://www.surveymonkey.com/curiosity/cnbc-small-business-q4-2022/

3
The average income for small business owners nationally slightly under $61,000.
https://www.fool.com/the-ascent/small-business/articles/heres-the-average-small-business-owners-income/

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected]. 

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

FEATURE – Health Insurance Options for a Small Business

Today’s guest is Monica Watson, owner and president of Hene Watson Advisors:

Monica’s email:  [email protected]
Monica’s LinkedIn page:  https://www.linkedin.com/in/monica-watson-6582a413

Suggested resource:
Health Insurance Marketplace Calculator
https://www.kff.org/interactive/subsidy-calculator/

----------

NEWS ROUNDUP

1
The November jobs report was not as good as the headlines seem.  The household survey show a loss of 138,000 jobs.
https://www.bls.gov/news.release/empsit.nr0.htm

Small business job and wage growth held mostly steady in November.
https://www.paychex.com/employment-watch/#!/news-release/

2
Rising interest rates are causing more headaches for small businesses, that are already dealing with numerous economic woes, from inflation to a tight labor market.
https://www.wsj.com/articles/rising-interest-rates-put-small-business-owners-plans-on-hold-11668911299

3
Small businesses chalked up a record $1 billion in sales on Amazon over Thanksgiving weekend.
https://smallbiztrends.com/2022/12/small-business-amazon-sales-black-friday-2022.html

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected].

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

NEWS ROUNDUP

1
Durable goods orders were up sharply in October, by 1%, far surpassing analysts’ expectations.
https://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf

First time jobless claims jumped by 17,000 last week, and are now at a three-month high.
https://www.dol.gov/ui/data.pdf

2
The Small Business Administration is proposing a rule to allow more financing companies such to offer SBA-backed 7(a) loans.
https://www.federalregister.gov/documents/2022/11/07/2022-23597/small-business-lending-company-sblc-moratorium-rescission-and-removal-of-the-requirement-for-a-loan

3
Marking a new record for 2022, 41% of small business owners reported they failed to pay their rent in full and on time.
https://www.alignable.com/forum/rent-crisis-breaks-new-22-record-41-couldn-t-pay-in-nov-up-4

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected]. 

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com 

NEWS ROUNDUP

1
Retail sales surged last month 1.3%, exceeding forecasters’ expectations.
     https://tradingeconomics.com/united-states/retail-sales
A new report out by the Federal Reserve Bank of New York shows an increase in total household debt in 3Q22 of 2.2% to an all-time high of $16.5 trillion.
     https://www.newyorkfed.org/newsevents/news/research/2022/20221115

2
The National Small Business Association is filing a lawsuit challenging the constitutionality of the Corporate Transparency Act of 2019 – also known as “Beneficial Ownership” rules.
     https://www.nsba.biz/_files/ugd/601769_6e4c8814fad44357ba4fb466cd6202bd.pdf

3
A new survey finds that 24% of small businesses reported their upcoming Christmas sales will determine if their business can survive into next year.
     https://investors.amexglobalbusinesstravel.com/investors/news/news-details/2022/New-American-Express-Survey-Shows-60-of-U.S.-Small-Businesses-are-Investing-in-Cash-Flow-Tools-Ahead-of-the-Holidays-/default.aspx

----------

This podcast is sponsored by SBS Accounting & Advisors.  Use the promo code FLASH and get 20% off your set up fee!  https://sbsaccountants.com/.

----------

I would love to hear from you!  Please email me at [email protected]. 

----------

Email me at [email protected].

• Please give me feedback on the podcast.

Show web site:  www.smallbizflash.com