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Small Business

With higher interest rates, small businesses and lenders proceed with caution

by Justin Ho
Oct 10, 2023
Only a quarter of small businesses say they're getting the credit they need, according to the National Federation of Independent Business.
Some banks have been more cautious about lending to certain sectors of the economy that aren’t doing so well. That includes commercial real estate.
Alexi Rosenfeld/Getty Images
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COVID-19

These businesses made it through the hardest part of the pandemic. Then they closed.

by Kristin Schwab
Oct 9, 2023
The pandemic is still having a domino effect on small businesses. Here's what happened to three of them.
Because data from the Bureau of Labor Statistics lags, its unclear how many businesses have shuttered in the last few years.
Spencer Platt/Getty Images
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This Seattle candle maker is hoping to see "an uptick" this fall

by Sean McHenry
Sep 15, 2023
While it's currently the "slow season" in her shop, candle maker Colina Bruce is hoping to see an uptick in October.
"We did a lot of vendors markets this summer where we literally were just, every single weekend, trying to make up for the slowness that was happening in the shop," said Colina Bruce (right).
Courtesy Bruce.
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After a flat August, this North Carolina toy store is already looking forward to the holidays

by Sean McHenry
Sep 14, 2023
For this toy store owner, the biggest challenge right now is prepping for the holidays.
"We are selling a lot of Halloween products right now," said Irene Kesselman, owner of Ali Cat Toys in Carrboro, NC. "And certainly we'll move into the Christmas season shortly thereafter."
Ariel Jackson
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Mississippi record store owner hopes "greatest hits" compilations sound good to collectors

by Sean McHenry
Sep 13, 2023
While vinyl record prices remain a concern for Phillip Rollins of OffBeat, he thinks lower-priced "greatest hits" albums may entice customers.
Phillip Rollins, owner of OffBeat in Jackson, Mississippi, says collections of popular work by artists such as En Vogue and Notorious B.I.G. could get more people interested in buying records.
Courtesy Rollins
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Why are businesses pessimistic about the economy?

by Kristin Schwab
Sep 12, 2023
In August, for the 20th straight month, business owners scored their outlook below average.
Rising labor costs and the inflation of prices for necessary goods are two factors making business owners less optimistic.
Spencer Platt/Getty Images
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Small businesses are still struggling to hire. But the situation's improving.

by Justin Ho
Sep 1, 2023
The good news: The lowest proportion of small businesses since March 2021 reported having trouble hiring. The bad news: It's still 40%.
Forty percent of small businesses reported having trouble filling job openings last month.
Olivier Douliery/AFP via Getty Images
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Race and Economy

For Indigenous artists, pricing is a tricky proposition

by Savannah Maher
Aug 28, 2023
Some Indigenous artists say they've never been able to charge what their work is truly worth. Now, rising material costs are eating into profits.
Above, people enjoy the Santa Fe Indian Market, which draws roughly 1,200 Indigenous artists and craftspeople from across North America, in 2019.
Luke E. Montavon/AFP via Getty Images
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My Economy

The second-hand clothing reseller who’s bundling up style

by Livi Burdette
Aug 17, 2023
College student Bella McMinn of Nevada creates custom clothing bundles sourced from local thrift stores for her online clients.
"It's been a really great progression from feeling like this is only ever going to be a side hustle to the possibility of actually turning into a career," says Isabella McMinn.
Courtesy Isabella McMinn
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Persistence pays off again for L.A. gelato maker

by Richard Cunningham
Aug 3, 2023
Closing the two brick-and-mortar locations of Uli's Gelato was not an easy call, but networking helped Uli Nasibova create her next chapter.
"When the pandemic first started, your survival instincts kick in," says Uli Nasibova, owner of Uli’s Gelato. "Failure was not an option."
Nina Uemurasachi
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