We saw more signs this week that the economy may be slowing down a bit. And it’s getting a little tougher to keep your business going.
For instance, a new report from Lending Tree saw a reduction in the amount of borrowing among Main Street businesses.
Perhaps the recent prolonged government shutdown had some impact on that figure, but it matches with reports in previous weeks. The economy may not be going downhill but it definitely looks to be leveling.
The lack of borrowing may be an issue when employers confront the recent trend of higher wages. New data from ADP this week shows U.S. wages grew 2.8% at the end of 2018 over the previous year. That’s likely to continue in 2019, too.
If you’re diverting funds to pay higher wages, it’s more likely you’ll need to borrow to grow your business.
So, it looks like it’s time to get strategic. Remember, successful businesses can be immune to most economic conditions. If you see this downturn happening, start planning a way to keep your business ahead.
But don’t fall in a trap of over-planning, especially in meetings. Consider this: new research from Doodle finds the average professional is wasting about 13 days a year in pointless meetings. Is this you?
Your time is money and if you’re forced into being more pennywise, you can ill afford to lose nearly three full work weeks in meetings.
Check out the rest of the week in small business headlines in our news and information roundup below:
Tight Labor Market Benefits People with Disabilities, Are You Expanding your Applicant Pool?
Disabled persons are entering the workforce as overall unemployment rates drop and companies consider an expanded pool of potential job applicants for entry-level and essential positions. Persons with disabilities have long been sidelined and unable to find employment, due in part to stigma and from an inability to perform tasks as quickly or accurately as their peers.
Piano Rental Business Plays All the Right Notes When Marketing to Customers
How will your company become top-of-mind in 2019 and beyond? Sometimes a simple modification to a business policy can lead to that memorable, unique edge. Even if your industry is more than 300 years old. Small Business Trends chatted with Sarah Binder Mehta about hitting all the right notes in a traditional niche.
Small Business Operations
Most Expensive Office Space in the World for Growing Small Businesses
How much office space do you need for your business and what will it cost you? For small business owners, this is a recurring problem as the company grows, more staff is hired, and leases run out.
Small Businesses Take Center Stage at Facebook Summit
Facebook has introduced a new way for Pages to connect with Instagram and another to widen or create new small business communities. The announcements came at a Facebook Communities Summit that took place on February 7 at the company’s Menlo Park HQ that hosted 400+ community and small business leaders.
70% of Your Customers Say Page Load Speed Impacts Buying Decisions
Did you know a staggering 70% of consumers admit that the speed pages load on a website affects their buying decisions? Page Load Speed Impacts Buying Decisions This was the finding of Unbounce’s 2019 Page Speed Report, which surveyed 750 consumers and 395 marketers.