A store displays a sign before closing down permanently in Arlington, Virginia. OLIVIER DOULIERY/AFP via Getty Images States are poised to raise taxes on businesses starting next year and cut jobless benefits for workers as the coronavirus-fueled downturn continues to stress unemployment systems around the country. Industries like bars and restaurants that were hit hardest
Jon Nazca | Reuters Facebook is increasing its focus on the small business community, launching a new interface called “Business Suite” on Thursday which is targeted at small businesses that have struggled throughout the Covid-19 pandemic. The platform is available exclusively to small businesses at launch, according to a release from the social media and
Pedestrians wearing protective masks walk by a sign displayed outside a retail store in Harlem, New York City, saying it’s going out of business. Noam Galai | Getty Images Yelp on Wednesday released its latest Economic Average Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll.
The U.S. economy may be starting to recover from the coronavirus crisis, but many small-business owners are not. After appearing on Shark Tank, Kelsey Moreira, 29, opened an edible cookie dough bar called Doughp on the Las Vegas Strip in 2019. “Even though I came out without a deal, I had a burst of confidence
Svetikd | Getty Images More than one-third of the American workforce freelance amid the Covid-19 pandemic, contributing $1.2 trillion to the U.S. economy, a study by Upwork revealed Tuesday. This was a 22% increase since 2019 and it was fueled in part by an influx of younger, highly-skilled professionals seeking flexible alternatives to traditional employment.
“Shark Tank” investor Daymond John told CNBC on Tuesday that he believes his new effort with Lowe’s to help diverse entrepreneurs can have widespread appeal — and a big impact. “You can get a million applicants, hopefully. I want people to step up to this,” he said on “Squawk on the Street.” ”When you talk about diversity … you’re
A worker wearing a protective mask cleans a table in front of a pizza restaurant in San Francisco, California, U.S., on Monday, June 15, 2020. David Paul Morris | Bloomberg | Getty Images Just over a year ago, Adam Rammel was struggling to find workers. The owner of local craft beer bar, Brewfontaine, in Bellefontaine,
A man walks his dog past a placard stating “ALL SMALL BUSINESS IS ESSENTIAL” outside Atilis Gym on May 20, 2020 in Bellmawr, New Jersey. Mark Makela | Getty Images Last week, the U.S. Senate gave up the fight to save America’s small businesses. They walked away from negotiations that would have extended a lifeline
U.S. President Donald Trump speaks during a campaign event at Smith Reynolds Regional Airport in Winston-Salem, N.C., September 8, 2020. Jonathan Ernst | Reuters It’s been nearly two weeks since President Donald Trump’s payroll tax deferral took effect – and large employers so far seem to have little appetite for the holiday. Starting on Sept.
Thomas Barwick | DigitalVision | Getty Images A key tax deadline is just around the corner, and small-business owners who are in distress are still uncertain of what they’ll owe the IRS. For taxpayers who pay quarterly estimated taxes, Sept. 15 marks the due date for this year’s third-quarter payment. As if that weren’t stressful
U.S. Senate Minority Leader Chuck Schumer (D-NY) speaks to reporters during a news conference on Democrats’ demand for an extension of eviction protections in the next coronavirus disease (Covid-19) aid bill on Capitol Hill in Washington, July 22, 2020. Jonathan Ernst | Reuters Senate Democrats are making a last-ditch effort to undo President Donald Trump’s
Tesla CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai on Jan. 7. Aly Song | Reuters With Apple and Tesla’s shares trading at lower prices after their stock splits on Monday, you might be thinking now is the time to invest in these companies. After all, one
A federal coronavirus small-business loan program has helped millions of companies stay afloat during the pandemic, but may have also sunk billions of dollars on “fraud, waste, and abuse,” House Democrats said Tuesday. The conclusion from majority staff on the House coronavirus subcommittee came in a new report on the Paycheck Protection Program, a key
As stimulus talks remain deadlocked in Washington, the situation on Main Street is becoming increasingly dire. The window to apply for new Paycheck Protection Program loans has expired and many who have accessed loans have used the funding. As businesses operate with limited capacity due to Covid-19 restrictions, new data show many anticipate more aid
Westend61 | Westend61 | Getty Images If there’s a magic bullet to two-parent families getting by on one salary, especially in these tough economic times, it’s controlling cash flow. Couples who succeed at either saving one salary or living on one paycheck are very disciplined about spending. They use several strategies to make living on less work
The Covid-19 crisis is requiring everyone to do something that former FBI hostage negotiator Chris Voss built a career on: make tough, stressful decisions. “I like action, I hate inaction and inertia, and with the pandemic, it is requiring us to make decisions,” said Voss, who now runs his own consulting firm, Black Swan Group.
The exterior of OneUnited Bank in Boston. It is one of less than two dozen Black-owned banks in the U.S. Pat Greenhouse | The Boston Globe | Getty Images Black Americans have been hit disproportionately hard by the Covid-19 pandemic, and the White-led financial institutions that could theoretically offer economic support may simply not be
The coronavirus pandemic has thrown into sharp focus the role of government in supporting the economy during periods of crises. But it has also highlighted the role big business can play. Look at Singapore. As the Asia-Pacific headquarters for many major corporations, the country has long invested in business stability even as geopolitical tensions flare globally. So when
President Donald Trump speaks during a rally at Yuma International Airport in Arizona on Aug. 18. Brendan Smialowski | AFP | Getty Images Employers and payroll companies have less than two weeks to put President Donald Trump’s payroll tax deferral in place. It’s looking like an uphill battle. The president signed an executive order on
Kevin O’Leary told CNBC on Thursday that he does not believe Democratic presidential nominee Joe Biden would impair the stock market if the former vice president were to defeat President Donald Trump in November. “I don’t think Biden is going to hurt the markets at all if he gets elected. His hands are tied,” the