More than 40% of U.S. small business owners say they couldn’t pay rent on time or in full for the month of November, the highest this year.
The small business network group Alignable released the survey, which found that the hardship varies by industry. A notable 57% of beauty salons said they couldn’t make rent as well as 45% of gyms, 44% of retail and 44% of restaurants.
Newly released small business survey data shows that an alarming number of businesses are unable to pay rent.
Alignable released its monthly small business report for October which showed 37% of American small business owners were unable to pay rent on time or in full last month. That is up from 30% who said the same the month before.
Newly released polling data shows inflation is a top concern for small businesses as prices continue to rise.
The National Federation of Independent Business released the survey, which shows that 30% of owners named inflation as the single-most important problem in running their business.
A small business advocacy group has partnered with former Republican House Speaker Newt Gingrich to announce a plan on Wednesday to boost small businesses, fix the economy and provide opportunities for all Americans. The group announced the plan at Washington, D.C.’s Capitol Hill Club with a variety of speakers, including Gingrich who appeared live from a virtual location.
The Job Creators Network says the purpose of their American Small Business Prosperity Plan is to give members of Congress and their midterm challengers specific policies that would move America toward a positive, pro-growth economic agenda.
Small businesses are increasingly unwilling to hire because they can’t afford to take on new costs, according to a newly released survey.
The small business network company Alignable released the survey Wednesday. It found that 63% report putting hiring on hold “because they can’t afford to add staff, and 10% of that group is laying off workers.”
Health insurance premiums offered under the Affordable Care Act (ACA), colloquially known as Obamacare, will rise next year, hitting small businesses particularly hard and potentially pressuring them to drop out of the program.
While recent provisions in the Inflation Reduction Act have provided additional subsidies for individual consumers that will likely offset the increased cost of premiums, no such support was granted to small business owners, according to the Wall Street Journal. Insurers are proposing median premium increases of 10%, but some are proposing increases as high as 20%.
Nearly half of small business owners are not willing to hire because of labor costs and “skyrocketing inflation,” a newly released small business report shows.
The small business network Alignable released its July Hiring report which found that “45% of small businesses (SMBs) are halting their hiring, largely because they say they can’t afford to add staff.
More than a third of small businesses can’t pay rent, newly released data shows.
The small business network Alignable released new survey results that found that 35% of U.S. small business owners “could not pay their rent in full or on time in June.”
America’s top financial regulator issued climate disclosure rules that are more burdensome for smaller companies than large companies, according to the agency’s own analysis.
While the rules would cost large corporations $640,000 at first and $530,000 in subsequent years, they would cost smaller publicly-traded companies $490,000 initially and $420,000 in following years, the Securities and Exchange Commission (SEC) said in its proposal. The regulator’s analysis suggests that smaller companies would feel a relatively larger financial burden as a result of the proposed disclosure rules.
Small business owners are increasingly pessimistic about U.S. economic conditions and overwhelmingly support an expansion of domestic fossil fuel infrastructure, the latest polling data showed.
Just 27% of small business owners agreed the economy was in “good” or “excellent” condition, according to a Job Creators Network Foundation poll released Friday and shared with The Daily Caller News Foundation. The figure represented the lowest rating of the current economic situation among small business owners since the group began the poll a year ago.
Gov. Brian Kemp signed a trio of bills he says will help small businesses in the state, including a measure that allows food trucks to operate in more than one county without needing multiple permits.
“As a small business owner for more than 35 years, I have always applied a pro-business approach to governing, helping to cut red tape and ensure we have an environment that allows good Georgia companies to thrive and serve their customers,” Kemp said in an announcement.
The Wall Street Journal Editorial Board said that a Democratic effort to crack down on tax cheating would give the Treasury Department access to almost every American’s bank account.
The Thursday op-ed focused on a proposal that would require financial institutions to report individual accounts containing at least $10,000 to the IRS. That effort, the board wrote, would affect the vast majority of Americans who did not exclusively use cash to make purchases and pay bills.
“The details are murky, but most Americans could still get ensnared in this dragnet unless they pay bills and buy goods in cash,” the editorial board wrote. “Democrats say banks will only have to report total annual inflows and outflows, not discrete transactions. But nearly all Americans spend more than $10,000 a year.”
Most IRS guidance documents make for poor pleasure reading. Then again, most IRS guidance doesn’t effectively impose a retroactive tax on small business owners merely for having a family. IRS Notice 2021-49, issued on August 4, includes a bizarre interpretation of the law that will effectively raise taxes for business owners with close relatives, even if their family members have no involvement in the company.
A core goal of the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed early on in the pandemic was to assist businesses in keeping employees on their payroll even as they dealt with the economic effects of lockdowns. Part of the plan was the Employee Retention Tax Credit (ERTC), which provides a tax credit against employer payroll tax liabilities.
Facebook is spending $100 million to buy up the outstanding invoices of small businesses owned by women, racial minorities, veterans, disabled people and LGBTQ+ people, the company announced last week.
The Invoice Fast Track Program allows certain “small, midsize and diverse-owned businesses” to submit outstanding invoices to Facebook. The tech giant then buys the invoices, giving the business cash immediately, and the business’ customers pay Facebook instead.
The program is designed to help “diverse-owned” businesses improve their cash flow and hire more employees, according to the program’s description.
As President Joe Biden promotes his several trillion dollars in proposed federal spending, Republicans and small businesses are raising the alarm, arguing the taxes needed to pay for those spending plans are a threat to the economy.
The House Ways and Means Committee met Thursday to discuss infrastructure development and in particular the impact of proposed tax increases to pay for it. Rep. Kevin Brady, R-Texas, the ranking member on the committee, argued that only 7% of Biden’s proposed infrastructure bill goes to infrastructure and that raising taxes would incentivize employers to take jobs overseas.
“As bad as the wasteful spending is, worse yet, it’s poisoned with crippling tax increases that sabotage America’s jobs recovery, hurts working families and Main Street businesses, and drives U.S. jobs overseas,” Brady said. “We cannot fund infrastructure on the backs of American workers.”
The Biden Administration sent some stock prices tumbling and left small businesses worried after taking sides on a hotly contested labor issue that critics say could threaten the jobs of millions of independent workers and thousands of small businesses.
In his address to the nation Wednesday evening, President Joe Biden called on Congress to pass legislation that would ban the use of freelance workers in most instances.
A report from the freelance site UpWork found that about 59 million gig workers make up $1.2 trillion of the U.S. economy.
The Golden Horseshoe is a weekly designation from Just the News intended to highlight egregious examples of wasteful taxpayer spending by the government. The award is named for the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s.
This week, our award is going to the United States Small Business Administration and Treasury Department for awarding at least $200 million, but as much as $420 million, to Chinese Communist Party-linked businesses by way of the Paycheck Protection Program, intended to assist U.S. small businesses that were devastated by the coronavirus pandemic, widely believed to have originated in China.
A report from the Horizon Advisory strategic consulting group illustrates how negligible congressional oversight allowed at least 125 Chinese firms to “take advantage of the international disaster” by benefitting “directly from U.S. investment and relief measures.”
Small businesses have been decimated by the pandemic shutdowns. Many have struggled to survive. Many have had to lay off employees. If they haven’t closed their doors yet, the next six to nine months will be a real challenge.
There is some help on the way. The Small Business Administration has released a second round of the Paycheck Protection Program (PPP) — a forgivable loan program designed to assist small businesses with money to stay afloat. Part two of the PPP opened on Jan. 15.