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Stories Tagged as

Small businesses

Small businesses see wage pressure easing

by Justin Ho
May 1, 2024
While the labor market is still tight, some owners aren’t feeling like they need to hike pay as much as they did earlier in the pandemic.
According to the Labor Department, wage gains have been slowing for the past two years.
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Small businesses could see big gains by boosting productivity

by David Brancaccio and Alex Schroeder
Apr 25, 2024
And they can achieve that through better collaboration with companies big and small in their industries.
"Small businesses are, really, the backbone of the economy in so many ways," says McKinsey's Anu Madgavkar.
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Some small businesses are squeezed between rising costs and customers with other options

by Stephanie Hughes
Apr 18, 2024
For restaurants and retailers in particular, it can lead to something the Federal Reserve's Beige Book calls "lumpy" pricing.
Restaurants and retailers don’t necessarily have to raise prices to protect their profit margins, says Adrienne Slack at the Atlanta Fed. They can also save money by cutting back.
Brendan Smialowski/AFP via Getty Images
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My Economy

This immigrant small businessman brings a taste of Bolivia to his community

by Sofia Terenzio
Apr 12, 2024
Adrian Espinoza, owner of Empanada Club in Portland, Maine, talks about starting his business dealing with rising costs.
Adrian Espinoza, owner of Empanada Club in Portland, Maine, makes and sells Bolivian style empanadas at farmers markets, festivals and through his online shop.
Courtesy Espinoza
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Small businesses have Now Hiring signs up — whether they need workers or not

by Justin Ho
Apr 2, 2024
So government stats on job openings may not be telling us much.
Frankesha Watkins, who owns a beauty supply store, said she always keeps a job listing posted because high turnover among her staff creates frequent openings.
Alexi Rosenfeld/Getty Images
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Small business optimism ticked down in November

by Mitchell Hartman
Dec 12, 2023
The National Association of Independent Business's small business optimism index has been below its historical average for nearly two years.
While the labor shortage have been easing, it's still a persistent issue for small businesses.
Scott Olson/Getty Images
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My Economy

From college friends to business partners, these stationers are celebrating 10 years in business together

by Sofia Terenzio
Nov 30, 2023
Danielle McCarthy and Ellen Kelly run a luxury wedding stationery business in Newport, Rhode Island, where they specialize in letterpress printing.
Kelly and McCarthy met their freshman year of college at an art school in Beverly, Massachusetts. Now, they both live and run their stationery business in Newport, Rhode Island.
Erin McGinn Photography
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'Tis the season for sugary treats: What pays the bills for this creative cookie business

by Kristin Schwab , Sofia Terenzio and Sarah Leeson
Nov 24, 2023
Maddie Gartmann of Garty Goodies enjoys sweet success with special event orders and cookie decorating classes.
There's an enthusiastic customer base for Maddie Gartmann's cookie decorating classes. "Luckily, that's what I enjoy doing the most," she says.
Courtesy Gartmann
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Entrepreneurship can narrow the gender pay gap, but it's not a perfect solution.

by Justin Ho
Oct 24, 2023
Three women entrepreneurs talk about their experiences starting their own businesses, and whether it helped them get better pay and flexibility.
For some women, running their own business can give them more flexibility to care for kids or spend time with family. But it's still an imperfect solution to the gender pay gap.
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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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