In the News: Gas Price Hikes Will Hurt Small Business

rising gas prices

The price for a gallon of gas continues to rise in the US, with some forecasts suggesting they haven’t peaked.

As the price at the pump continues to go up, it has an effect on nearly everyone’s wallet, including those of small business owners across the country.

Check out how the rising gas prices in the US will impact small businesses in more than one way, both directly and indirectly. The top story in this week’s news roundup focuses not only on forecasts for gas prices in the US but also how that cost likely will hurt millions of businesses.

Read: Rising Gas Prices Will Affect Small Business in the US

Small Business News – November 5, 2021

This week’s roundup has more news related to small businesses:

Small Wins on TikTok Highlights Small Business Success

TikTok, the video-focused social networking site, is playing an important role in helping small business owners recover from the pandemic by connecting with audiences and driving their business forward. To help small businesses achieve more from TikTok, the fashionable social networking site has launched a new initiative aimed at the small business community.

National Veterans Small Business Week Celebrated This Week

The Small Business Administration (SBA) is hosting National Veterans Small Business Week from November 1-5, 2021. The goal of this event is to support close to 1.8 million veteran-owned small businesses through the SBA’s 22 Veterans Business Outreach Centers. SBA Marks National Veterans Small Business Week Veterans make up around one in 10 of all small business owners in the U.S.

New Small Business Grants for COVID Relief Available from State, Local Governments

For local and state governments, the job of supporting small businesses affected by the pandemic is still not over. While things are slowly returning back to normal after the height of the pandemic, the impact on small businesses will be felt for some time. Funds from the PPP have helped millions of small businesses stay afloat, but many still need help.

SBA Says $44.8 Billion in Small Business Loans Awarded in 2021

The Small Business Administration (SBA) has announced it has reached $44.8 billion in funding to small businesses for the 2021 fiscal year, equating to more than 61,000 traditional loans.

Can Your Small Business Replicate the Success of McDonald’s McRib?

November 1 brought the much-loved McRib back to the McDonald’s menu. The legendary sandwich will be available for a limited period at participating restaurants nationwide. The marketing tactics of the return of one of McDonald’s most iconic products provides some invaluable lessons for small businesses.

Louisiana Man Indicted on $1.1 Million PPP Loan Fraud Charges

A man from Louisiana has been charged with fraudulently obtaining more than $1.1 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program loans.

Etsy Sellers Avoiding Supply Chain Shortages, CEO Says

As supply chain issues continue to disrupt major retailers in the US, smaller businesses, which are less reliant on complex global supply chain procedures, are less predisposed to disruption this holiday season. An example of small businesses avoiding supply chain issues can be found at Etsy.

1040 Form Basics for Small Business Owners

Filing federal taxes can be confusing. Even the most financially savvy among us may have difficulty keeping track of the many forms and calculations required. Luckily, we’re here to answer a few of your most pressing questions about the main tax filing documents: 1040 forms.

Basics About 1099 Forms for Small Business Owners

As a small business owner or independent contractor, you probably already know at least a little about 1099 forms. However, you may still have unanswered questions. To whom do these forms apply? How do you fill them out? Who should issue them? If you need one, when do they arrive? Read on to discover the answers to these questions and several others that you may have about 1099 forms.

W4 Form Basics for Small Business Owners

A W4 form is an essential document that every small business owner should collect from their employees before issuing their first paycheck. While the IRS does not obligate you to report any information claimed by your employees on their W4, these forms are still subject to review. The revenue service may ask you to send the W4 form to them.

W2 Form Basics for Small Business Owners

As a small business owner, there’s an abundance of tax forms you need to familiarize yourself with – and one of them is the W2 form. The IRS requires every employer to submit this form for their employees. However, this form may not apply to all those who work for your company.

Image: Depositphotos

More in:

Joshua Sophy Joshua Sophy is the Editor for Small Business Trends and has been a member of the team for 16 years. A professional journalist with 20 years of experience in traditional media and online media, he attended Waynesburg University and is a member of the Society of Professional Journalists. He has held roles of reporter, editor and publisher, having founded his own local newspaper, the Pottsville Free Press.