Small Business Management Weekly Roundup 🚀📊
Despite the challenges posed by inflation and high operating costs, small business owners are showcasing a resilient spirit! A whopping 67% are anticipating a revenue growth over the next 12 months. Let’s dive into the insights from Bank of America’s 2023 Women & Minority Business Owner Spotlight to explore more!
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Surge in New Business Creation
2022 witnessed the birth of approximately 5 million new businesses, with women and people of color steering the wheel! However, the journey wasn’t without hurdles, as 85% of small businesses encountered financial challenges. Check out the full story on CBS MoneyWatch!
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Venture Funding Disparity for Female-Founded Startups
A call for equity in entrepreneurial finance! Only 2.2% of all venture funding was directed to female-founded startups in the initial eight months of this year. Let’s delve into the insights and perspectives from Deena Shakir, partner at Lux Capital, and others on CBS MoneyWatch!
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IRS Halts Processing of Employee Retention Credit
Attention, business owners! The IRS has put a pause on the processing of employee retention credit due to ‘questionable claims’. Stay informed and read about the implications and next steps on CNBC Small Business!
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Decline in Small Business Confidence
A downturn in the confidence among small business owners is observed, especially towards banks and the Biden administration. What’s behind this decline and how can businesses navigate through these times? Find out more on CNBC Small Business!
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