Connect with us

Business

Small company owners are being shut out of the discussion.

Published

on

Thefts, accidents and production problems have wreaked havoc on the country’s supply chains, which have shaken businesses throughout the world as demand rises in reaction to COVID-19. With Congress and the administration working on a solution to this supply chain issue, American small and medium-sized enterprises, as the backbone of the economy, need to be at the forefront of everyone’s mind.

It’s been difficult to miss the increase in prices, and in some cases, total lack of alternatives, whether it’s at the gas station or checking off items on Christmas wish lists.

Inflation is at a 30-year high, and businesses all over the world are suffering from supply chain bottlenecks as a result of the COVID-19 epidemic. Because of the increase in demand from a more active public colliding with sluggish industrial production that has been hindered by COVID-19 closures, there have been numerous disruptions.

The most serious problem, however, is that matters linked to the supply chain, as well as labor shortages and price increases, appear to be getting worse rather than better. That is why the most recent roundtable discussion with corporate executives by President Biden was concerning.

On November 2, President Biden hosted four major company CEOs and shipping executives to discuss how his administration might collaborate with the private sector to combat these supply chain disruptions.

The presidents of large corporations, such as Walmart, UPS, FedEx, and Target, were all there at the table. The conversation turned to the president’s action plan to reduce port bottlenecks and the just-passed infrastructure measure, which provides funding for different aspects of the domestic supply chain.

This discussion, while positive and beneficial, failed to account for a crucial element that might have added a strong voice to the debate: American small and medium-sized company executives.

Small businesses account for around half of the United States’ workforce, where most economic development occurs. It’s a no-brainer that assisting these failing firms is the same as aiding their employees.

According to recent census data from the United States Small Business Pulse Survey, over half of all small businesses in the country have experienced a delay from a supplier. This is an increase from the 26.7% seen at the beginning of 2021, according to this data.

The study also uncovered that two-thirds of manufacturers, more than half of foodservice and hospitality companies, and over 60% of retail firms are under pressure from supply chain delays.

During the roundtable, Vice President Biden addressed the specifics of his action plan, which includes allowing port authorities to reallocate idle funds in order to address supply chain concerns.

This is certainly an interesting development, but most small companies in the United States do not have the same flexibility as Amazon or Walmart’s businesses, which can charter their own planes or ships to transport goods.

Small businesses across the country face particular issues when it comes to our fragile supply chain, and those needs must be met.

Despite the fact that certain firms are prepared to absorb greater expenses in the short term by airlifting goods from abroad in order to avoid losing sales and money, it is not an option for most.

There are alternatives that Congress has in the immediate to assist American small and medium-sized companies that are looking for new suppliers .Congress can correct an error in the recently passed infrastructure bill to assist businesses in deal with these scarcities and concerns on the supply chain.

The Employee Retention Credit, one of the most valuable business incentives accessible to firms hit by the epidemic, was shortened as part of the recently passed Infrastructure Investment and Jobs Act.

The payroll credit, which has been utilized by thousands of small businesses in the United States to retain workers and obtain much-needed funding, was originally scheduled to last until the end of 2021. However, with the passage of the infrastructure bill, eligibility for the incentive will conclude at the end of this year’s third quarter.

Congress should immediately reinstate the payroll tax credit, which encourages employers closing as a result of COVID-19 to maintain personnel. Doing so would open the door for struggling small enterprises to access much-needed financing when it is most needed, long after the pandemic’s effects have worn off.

Congress should at least consider reinstating the credit, or something similar, for those small businesses that employ less than 500 people and have seen business difficulties as a result of domestic supply chain bottlenecks.

Congress should also discuss the advantages of a larger tax deduction or credit for supply chain disruptions-related expenses. Businesses are increasingly able to predict disruptions in the supply chain, but these costs are out of reach for most companies. These types of incentives might assist these firms to obtain the additional cushion or resources they need to weather the storm.

The Department of Transportation will also provide $240 million in grants under the Infrastructure Development Grant program to help businesses improve systems.

The administration should explore a comparable program targeted solely at American small and medium-sized firms that are impacted by the disrupted supply chain, as an alternative.

When it comes to dire situations, small businesses must take drastic action. Small firms have never been able to compete with larger companies on price, but many owners of small businesses are in a bind now because they can’t obtain necessary goods or services.

According to a new study by researchers at Harvard Business School, approximately 800,000 small businesses permanently closed their doors during the first year of the pandemic, with those that survived are continuing to struggle. The fact that the consumer price index in the United States rose 6.2% above last year’s reported figures is even more frightening.

These are grim figures that will hit the country’s lower and middle classes especially hard. Despite these facts, we believe that the economy is ripe for a major change. While recent economic indicators are encouraging, such as an increase in employment numbers, there’s still a long way to go.

Now is the moment to develop a strategy that works for businesses of all sizes.

There is no “quick fix” for reducing supply chain conflicts across the board, but there are small modifications that may be made immediately to assist in moving things ahead and give all American businesses some much-needed aid.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

The Real Deal on a Four-Day Workweek

Published

on

For many people, it’s difficult to imagine a work week that doesn’t begin on Monday and end on Friday. For decades, millions of people across the world have built their week around Monday through Friday. However, as the pandemic continues to change Americans’ attitudes toward work, many are reconsidering how they may balance work and life.

After all of this research, I discovered that the concept of a five-day workweek was first proposed as early as the 1860s by many labor organizations in the United States seeking to pass legislation for an eight-hour working day. The Fair Labor Standards Act was amended in 1938 to limit the workweek to 40 hours per week, which resulted in the Monday through Friday, five-day work week that is well known today, according to Business Insider.

Despite the passage of this law, many individuals are still compelled to work more than 40 hours per week. According to a Gallup poll conducted in 2014, the typical salaried employee put in around 49 hours each week. Furthermore, according to Vox, workers are still clocking more than 40 hours per week even during the COVID-19 epidemic. Many people feel that achieving a work-life balance is difficult because they are either working from home or doing a hybrid arrangement that includes both in-office and at-home work.

A four-hour workweek might be in your future

In the previous decade, businesses and nations all over the world have started to reconsider the five-day workweek. More than 2,500 Icelandic employees were involved in a research in 2015 and 2019 that introduced them to a four-day workweek rather than the usual five-day week. The study’s findings suggested that those who took part in it reported feeling less stress and a better work-life balance, while their employers claimed that their productivity remained the same or improved. Many other countries around the world, such as New Zealand, Singapore, and Spain, subsequently looked into mandating a four-day workweek as a result of these studies. According to The Guardian, several American businesses, including Bolt Electric and Panasonic Electronics, are already adopting the four-day workweek. Microsoft, which offers a four-day workweek for its workers in Japan, states that the four-day workweek has boosted output by 40%.

Although many individuals tout the advantages of switching to a four-day week in place of a five-day one, the United States government has yet to push through any legislation establishing such a schedule in the country.But this may soon change, as more effort is put into protecting employee rights. The Great Resignation, which has seen millions of Americans leave their jobs in the past year, and the current movement for worker rights that has necessitated wage increases in many states have the potential to push forward further workplace reform in the near future, according to Vox.

Continue Reading

Business

The Best Valentine’s Day Gifts for Every Stage of Your Relationship, According to a Matchmaker

Published

on

By

Rori Sassoon, a celebrity matchmaker and relationship expert, reveals the ideal Valentine’s Day presents for every stage of your love affair.

Valentine’s Day might be a significant event, especially if you’re new to each other. If you’re stumped as to what to get your lover this year, we’ve got you covered. Rori Sassoon, a celebrity matchmaker, offered us her top V-Day present ideas and you’ll want to check them out.

“When shopping for a Valentine’s Day gift, keep in mind that the gift is as big of a deal as your partner places on gift giving,” Rori shared. “Maybe they’re a fan of quality time over a luxury gift. Take that gesture of love and perhaps put it toward a shared experience. Most importantly, while you might strive to be the ultimate gift giver, stay within your means. If you have anxiety about being able to afford something over budget, rethink how you can find a similar item at a price point you’re comfortable with.”

Choosing the ideal present for your spouse on Valentine’s Day may be a difficult task, depending on where you are in your relationship. After all, if you’re just getting acquainted with someone, the presents you give won’t be at the same level as they’d be after a year.

Rori offered some advice on the finest types of presents to get your partner for each stage of your relationship, and we compiled a list of pointers to assist you get started.

It is good to note to learn your partners love language to help know what is the best gift to give to your partner.

Just Started Dating

When you’re starting to date someone around Valentine’s Day, you want to make a point of demonstrating that you care without being too cheesy (if that’s the case). Give them a card and a trifle. You’re indicating that you’d like to continue seeing them without unintentionally making them feel overwhelmed. Have a wonderful Valentine’s Day. However, keep in mind that there’s no need to be excessive—you’re just getting to know this individual.

We’re Not Really Strangers Card Game – 100% Realism Expansion Pack

This 50-card expansion pack for the wildly popular We’re Not Really Strangers Card Game was created for first dates to the “What are we?” phase of the relationship. It comes with all kinds of questions you’ve been dying to ask like “When’s the last time you ghosted someone and why?” and “What was the first thing you you noticed about me when we met in person?” It’s a great way to get to know your new love interest.

You Be My Valentine Pop-Up Card from YouBeBeloved is a lovely expression of love.

Lovepop has a variety of fun pop-up Valentine’s Day cards that are perfect for newly dating couples like this “Whale you be my Valentine?” card. All the options are really fun and colorful. You’ll definitely put a smile on their face.

We’ll See Where This Goes – Casually Dating

If you’re in a relationship or anything more casual, avoid wrapping gifts. Instead, create the ambiance for a raunchy night — lingerie, candles, romantic music, and maybe a sex toy or two. On this lovey-dovey day, capitalize on your physical attraction to each other. There’s no need to spend a lot of money on someone you don’t know if there’s going to be a long-term connection with. Have fun!

Tease Or Tumble Tower Game

The Tease Or Tumble Tower Game, which is simply a more grown-up version of the same thing, may be played by adults. Each brick has a hot question or activity such as “Remove an article of clothing” or “Massage your spouse for one minute.”

Box Of Dares

This box of challenges was created for couples at all stages and is especially enjoyable for individuals in a “where do we go from here” scenario. It includes 100 cards with dares that range from flirty to erotic, along with a box of 100 stickers.

Dating for at Least Six Months

When you’ve been dating someone for six months, it’s rather obvious that you care about each other. You want to give a gift that demonstrates the kind of giver you are. Gift-giving is one of love languages, and you should attempt to combine equal measures of sexy, fun, and thoughtful into your present. Regardless of the item, keep quality first! Consider a private spa trip or a concert at six months. Shared events will just bring you closer together.

Amorous Arcana: Valentine’s Tarot Lesson & Reading

What’s in store for your relationship in the future? Let the cards be your guide. This Valentine’s Day tarot lesson and reading will stay with you and your spouse forever. You’ll have the opportunity to do a tarot reading while Holly, the instructor and reader, assists you in interpreting the cards. If you already have a tarot deck, the procedure alone costs $25. If you don’t have one, a package including a deck and guidebook can be purchased for $50.

Tickets to a Concert or Event

If you want to give them something they’ll like, get them a ticket to a game, concert, or other event. It will be a shared experience that both of you can enjoy.

Committed for at Least One Year

If you’ve been with someone for a year, there’s always that lovely bright ring to it. You’re likely in love, and you see a hopeful future together. Purchase an outfit together for Valentine’s Day on a shopping trip. If you have a partner who is clueless about fashion, assist them in finding some trendy shoes or a designer belt.

Custom Couple’s Sweatshirts with Embroidered Roman Numeral Date and Initials

If you’re looking for a fun Valentine’s Day present for your significant other, consider getting them a pair of matching sweatshirts from Etsy. You may personalize it to include your initials, a date, and a heart. The New Bedtime Storybook by Leachco has a selection of colors ranging from black to white, light pink, navy, and gold. It’s a must-have for couples that have been together for at least one year.

Vertical and Horizontal Spotify Code Couples Necklace

What’s the song that holds a special meaning for you and your significant other? This personalized Spotify code necklace will always keep it close to your heart. The two necklaces are made of copper, and they’re ideal for keeping your favorite song on repeat. They’ll contain the Spotify code to your song so you can quickly scan and play whenever you want. You have the option of receiving them in rose, gold, or silver.

Long-term Relationship

When you’re in a long-term relationship, you’ve celebrated many Valentine’s Day occasions. You know what your partner wants at this point. If your partner likes jewelry, add something to their collection. If your partner can’t say no to a watch, give it to them. Regardless of the price tag on the present, make sure to include a thoughtful note. Words of encouragement might be the most appealing turn-on. Your fire never has to go out!

Personalized Dinner Spinner Date Night Idea Board

Have you ever found yourself in a situation where it takes hours to figure out what to eat because one spouse is unable to make up his or her mind while the other is great with “whatever”? The Etsy-made personalized dinner spinner board can assist you with this. It’s completely alterable, and you can pick your own names and favorite restaurants. You’ll be wondering why you didn’t get it sooner once you have this!

Personalized Ticket To Love Box

If you enjoy the concept of love coupons, this outstanding personalized ticket box takes it to a new level. You may pick from 40 ticket themes ranging from “Free Back Rub” to “clothing-optional adventures,” and the box can be personalized with your partner’s name. It’s both amusing and distinctive.

The ideas are endless, but really the key is the more thoughtful the gift the better. As well as a gift that makes your partner feel like you really know them. Getting them a gift that is simple that you know is something related to what they like can be the meaningful.

Continue Reading

Business

Solana Slides 17% to Leading Losses as the Crypto Market Plunges

Published

on

The cryptocurrency market fell on Monday, following a decline in the stock indices in the United States.

On Monday, the crypto market dropped significantly as U.S. stock index futures plunged by nearly 17%, according to CoinMarketCap. Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to about $33,700 at the time of publication after rising more than $4,000 in Asian morning sessions.

The price of Solana’s SOL asset was down 17%, trading at $84.17, according to data from analytics platform CoinGecko. SOL was one of the year’s top performers, increasing from $3 in January to over $259 in November. The price of Bitcoin has dropped by more than 66% from its all-time high and almost 42% from last Monday’s.

Ethereum and the Cardano, Polkadot, and Binance Coin tokens all suffered losses of nearly 10% in the last 24 hours. DOGE, the currency of Dogecoin, fell 7% in the same period among the top ten cryptocurrencies by market capitalization.

Over $240 million in liquidations occurred since Asian morning hours, according to data from analytics tool Coinglass. Liquidations occur when exchanges are unable to meet margin demands because of a margin shortage. Following a few swings in the green, we witnessed several false breakouts and retests.

Bitcoin futures markets have liquidated over $63 million in assets since their inception, according to figures published by Cboe. Ether futures surpassed this, with more than $64 million in liquidation losses. BTC futures experienced significantly fewer losses, with SOL and XRP futures both losing around $5 million in liquidations.

The ratio of bitcoin traders who were long or betting on higher prices reached nearly 81 percent, according to several technical indicators, as bitcoin was seen as being oversold and a price rise was anticipated.

Meanwhile, others predicted that the market may fall further.

“Alarmingly, the sharp reversal on Friday was not followed by any meaningful bounce,” said Alex Kuptsikevich, senior financial analyst at FxPro, in an email to CoinDesk. “Some observers point out that this is a worrying signal, suggesting further market declines, as we have not seen a final capitulation. Without capitulation, the markets will remain with an overhang of sellers.”

“Events are developing in a bearish scenario, so far broadly repeating what we saw in 2018 in terms of overall sentiment,” Kuptsikevich said.

 

Continue Reading

Trending