Almost half or 49% of small business owners say they are finding it harder to find employees with the right skill sets to fill their positions. This is according to the US Chamber and MetLife State of the Workforce report.
The confluence of several economic conditions and mandates is responsible for a range of issues affecting small business operations. From vaccination mandates to supply chain issues and the availability of millions of jobs, it is an employee market for those with the right skillsets. This is giving workers more choice, which in turn is forcing small businesses to compete with limited resources against large companies.
Find out how small business owners are dealing with finding qualified candidates they can afford for their company. This week’s top roundup story looks at how this particular challenge will affect millions of small businesses across the U.S.
Small Business News – November 12, 2021
Here are the other stories making headlines for small business owners this week:
The US House has approved two bills aimed at improving the cybersecurity of small businesses. House Approves Cyber Security Awareness Act The legislation relates to the Small Business Administration (SBA) Cyber Security Awareness Act.
Small Business Deals
According to Fox Business, homebuilders face further inflation headwinds as costs are increasing across the board. The co-COO of D.R. Horton, the nation’s largest homebuilder by market capitalization, Michael Murray, told Fox Business, “We’re seeing costs really increasing across the board.
Fiverr, the online marketplace for the freelance community, has introduced the Fiverr Workspace, a series of tools designed to support small business owners and freelancers in managing their business. The complete suite of back office tools assist small businesses with essential admin tasks, such as payments and taxes. As well as a series of new tools, the Fiverr Workspace features AND.
With the roll-out of the vaccination program and the opening up of many industries, there had been a renewed sense of optimism facing the small business community in the US. Such optimism was, however, short-lived, marred for many small businesses in recent months by inflation.
Last week, Keap held its annual IKON conference, which gave solopreneurs ideas on automating, tweaking their lead capturing strategies and some new products. It also highlighted some small business growth trends. The event was held at Hilton Scottsdale Resort & Villas in Arizona and virtually online.
Vistaprint, specialists in design and marketing designed to empower small businesses, has announced the launch of Vista, a significant brand development for the company. Vista is the new parent company of Vistaprint. It incorporates Vistaprint, 99designs by Vista, Vista x Wix and the company’s most recent acquisition of Crello. Crello has now rebranded under Vista as VistaCreate.
The number of businesses being bought and sold continues to increase with the third quarter seeing a 17% rise in acquisitions from the previous quarter, according to BizBuySell’s latest Insight report. The report also indicates that sellers are feeling more confident that they can receive a good price for their businesses.
American Express, a leading card issuer for small businesses in the US, has launched a new fully digital Business Checking account for small businesses. The Business Checking account offers small businesses a secure, high-yield and low fee digital banking experience. It comes with an annual percentage yield (APY) of 1.1% on balances up to $500,000.
Even though many consider the worst of the pandemic to be in the rear-view, millions of small businesses across the country – and in Canada – are clearly still feeling the effects of that, hopefully, once-in-a-lifetime predicament. To help small businesses finally fully emerge from the pandemic, more small business grant programs continue to be created to lend a hand.