7 tips to help your small business adjust for inflation

Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your data Your numbers are always helpful, but in times of rapid inflation, you’ll be especially thankful that you keep a nice, clean set…  Read more

Setting business financial goals for 2023

Businesses tend to progress more consistently if the owner sets financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read on to learn the steps for setting financial goals for your business for 2023. 1. Review and evaluate your 2022 goals You’ve got to see where you’re coming from to…  Read more

Business Update – January 18, 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. How will this recession be different from 2008? Economists predict a recession will arrive by the end of this year, but the downturn will likely play out much differently than it did in 2008. Leaders descend on Davos to talk about economics The World Economic Forum (WEF) returned to…  Read more

Business tips for the end of the year

Photo By Startupstockphotos The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A lot has likely happened for your business over the course of the…  Read more

Business Update – April 20 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. CDC Removes All Countries from COVID “Do Not Travel” List The US Centers for Disease Control and Prevention has removed all countries from its “Do Not Travel” recommendations. The highest Level 4 designation will now be reserved for “special circumstances” reflecting a dangerous spike in COVID-19 cases, a new…  Read more

Business Update – February 23 2022

Signs are emerging that the surge driven by highly transmissible Omicron variant is fading. Across the country, cases and hospitalizations are falling from record peaks. According to data from Johns Hopkins, the seven-day average for new cases was 129,000 on February 16, drastically down from 800,000 at the peak in mid-January. Data from the CDC shows a 9% drop in deaths over the last week. While mortality rates lag behind…  Read more

Business Update – January 25 2022

The rapidly spreading Omicron variant is causing worker shortages across the entire economy as employees are out sick or quarantining. At Delta Airlines, 8,000 employees contracted COVID-19 recently, contributing to more than 2,200 cancelled flights. Grocery stores and many other businesses are cutting back on their product lines. A shortage of truck drivers means shipments are delayed, so store shelves are empty. Children are taking public buses to school because…  Read more

Business Update – December 1 2021

Over the weekend, several countries reported their first cases of the new Omicron variant of the COVID-19 virus. While little is known about the new variant, genetic sequencing indicates it has at least 30 mutations on the spike protein, which it uses to bind to human cells, so it could be even more easily spread than the Delta variant. In response to the uncertainty, Israel has banned all foreigners from…  Read more

Business Update – September 22 2021

Even before the pandemic, some restaurant owners were challenging the model of paying servers only $2.13 an hour and depending on tips from customers to make them whole. Today, as restaurants and bars struggle to find enough workers to stay open, a few are making further changes to their business model. Some are raising wages and offering signing bonuses. Others are adding service charges to every bill, and others are…  Read more

Business Update – July 21 2021

Three weeks ago, new COVID-19 cases were averaging about 11,300 new cases a day, but that rate has now doubled to 23,000 cases per day. According to the CDC, nearly all recent COVID-19 cases and deaths have been among unvaccinated people. The more contagious Delta variant is now the dominant strain in the US, and appears to be more severe. A Scottish study found that the hospitalization rate is about…  Read more

Business Update – July 14 2021

In the wake of the pandemic, many families may find themselves with medical debt from COVID-related hospitalizations. This article from Acorns has four steps to take to reduce damage to credit scores from medical debt. First, review the bill to make sure it’s accurate. See if you can set up a payment plan with the provider. Try to negotiate with the provider to accept rates that are closer to Medicare…  Read more

Business Update – June 30 2021

As the pandemic recedes and businesses reopen, millions are quitting their jobs rather than return to their pre-pandemic routine. Some are seeking out positions where they can be fully remote, while others, particularly in the leisure and hospitality sector, are seeking better work-life balance, higher pay, or a less stressful work environment. The lengthy experiment with remote work has changed what people think about where and how they want to…  Read more

Business Update – June 2 2021

How will the COVID-19 pandemic end? Scientists who study global pandemics of the past observe that previous pandemics have subsided over time, generally in 18 months or so. The virus itself seems to become less deadly, and becomes more of an endemic seasonal illness. At the same time, our immune systems become better able to fight them off. At least that has been the pattern in the past. It is…  Read more

COVID-19 Business Update – April 28 2021

A year into the pandemic, and we’d all like to see it behind us. But there are disquieting signs that the virus may part of our lives for longer than we want. The longer the virus can spread through a non-immunized population, the more chances it has to mutate into strains that are more contagious or more dangerous. Although vaccination rates are still far below what is needed to slow…  Read more

April 15 2021 Is Not Like Other Years

April 15 2021 Is Not Like Other Years Today is usually the day for people to have filed their individual tax returns without extensions. It is also the due date for California Corp and LLC min tax of $800. And the due date for the Q1 tax estimates if you have those to pay too. But – we are still addressing the issues with Covid related changes, and so the…  Read more

COVID-19 Business Update – April 14 2021

We’ve been spending more of our time staring at electronic screens all day, and rumors abound about the possible negative consequences of that, as this piece in Lifehacker explains. Eyestrain is real, but the blue light from our screens won’t damage eyes. Simply holding your device a bit further from your eyes may reduce just as much blue light as expensive blue-light-blocking glasses. Practicing the 20-20-20 rule may help alleviate…  Read more

COVID-19 Business Update – March 3 2021

Congratulations! You got the COVID vaccine! Now what can you do? As an article in The Atlantic describes, there’s no one-size-fits-all solution, but “When deciding what you can and can’t do, you should think less about your own vaccination status, and more about whether your neighbors, family, grocery clerks, delivery drivers, and friends are still vulnerable to the virus.” While the vaccines do help keep the vaccinated people from getting…  Read more

COVID-19 Business Update – 3 February 2021

Keeping people safe in the pandemic requires a comprehensive approach, as explained by Aaron E. Carroll, a pediatrics professor at Indiana University. By taking the pandemic seriously, “far from posing a risk to its host city or town, a university could become—by supplementing behavioral measures such as masking and social distancing with widespread surveillance testing—a model for detecting and suppressing the virus.” By the time IU’s 87,000 students return to…  Read more

COVID-19 Business Update – 23 December 2020

Because we know you’re busy, we’re keeping this issue extra short. Just in time for Christmas, Jupiter and Saturn appear in close alignment this week, forming what some have called a ‘Christmas Star.’ The last time this happened was in the spring of 1226, when Notre Dame cathedral was under construction. Their closest connection will be on the Winter’s Solstice, when they will look like a double planet. To see…  Read more

Year End Agreement Reached on Covid Relief – A Little Bit of Info

Some big questions answered. A little bit. Ok – Congress finally passed a bill to deal with the pandemic relief, stimulus and extenders. And, I hear, it is the 2nd largest bill (by page count) ever to be considered by Congress. So – this post is not nearly as detailed and won’t have all your answers. But – I want to get some info out that has been keeping me,…  Read more

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