With good news in short supply these days, the addition of 51,000 jobs by small businesses in January is more than welcomed. This as more vaccines are being administered in cities across the country, and indeed around the world, to slowly begin to break free from the grips of the COVID-19 pandemic.
As 2020 came to an end, December delivered some abysmal job numbers with losses across the board nationally. But it was altogether a different story for January as the ADP National Employment Report revealed a total of 174,000 new jobs. Small, medium, and large businesses, as well as franchises, rebounded nicely. And here is to the new year bringing more prosperity as cities and countries get control of the pandemic.
The Latest ADP Report: Small Businesses Add 51,000 Jobs in January is one of the articles in this week’s roundup that will inform you about issues affecting small businesses. Other related topics include travel plans of Americans in 2021, the increase of bartering by small businesses during the pandemic, what you need to know about filing your taxes in 2021, and much more. See what else the weekly roundup has to offer below.
Small Business News Roundup – February 5, 2021
Some of the headlines making news for small businesses.
It looks like there is good news in the pipeline for businesses in the hospitality and tourist sector. Research shows that more than half (56%) of Americans are likely to travel for a vacation in 2021. A survey, conducted by Morning Consult, shows optimism is aplenty among US travelers.
AdAmp is a one-stop advertising platform that makes it possible for small businesses to feature their brand on leading streaming and cable networks for as little as $25 per day. Most small business owners think advertising on TV is beyond their budget. And this has left them out from experiencing the power of TV advertising.
The cost of social media promotion is getting more expensive as the platforms are becoming increasingly more popular for advertising. And for small businesses, the cost is high, especially during these times. That is why Bordo’s launch of its new, free social media platform for small business is welcomed.
As many as 63% of workers are confident that if they quit their job, they could start a business immediately from scratch. This was a key finding of new research by Invoice2go. The survey asked 2,500 people – including 500 small business owners – their thoughts on running their own business in the current climate.
According to BizX, the barter exchange platform, more and more businesses are opting towards creative ways to solve the issue of cash flow by trading in services and products rather than transacting in cash. The trend seems to have grown in popularity among small businesses as they seek to find creative means to remain afloat during the COVID-19 pandemic.
While it will still take a few more months into 2021 to get back to something near normal (or at least pre- 2020 normal), one thing that hasn’t changed is tax season. Although the tax deadline was pushed to July last year because of the coronavirus pandemic, this year, the deadline returns to April 15, which means it’s time to get organized.
Top talent lives everywhere. Hiring these international contractors has its pros: access to specialized expertise, diversity of ideas, savings on benefits and entitlements, and more. Nonetheless, working with contractors from other countries can be a slippery slope if you fail to do your homework. Rule No.
Even before the COVID-19 pandemic, there has been a rise in the use of contingent workforces as a result of the gig economy. This is because small business owners are always looking for easier ways to work with resources instead of making them employees for their company.