News & Insights

How Small Businesses Overcome Inflation, Cash Flow, and Workforce Challenges

Small businesses serve as the backbone of the economy, employing nearly 61.6 million Americans and driving innovation across various industries, according to the U.S. Chamber of Commerce. However, they often face economic challenges that disproportionately affect them due to their limited resources.

Fed announced a quarter-point cut to its key interest rate, plus what to expect in 2025

On Wednesday, the Federal Reserve reduced its key interest rate by a quarter percentage point, marking the third consecutive reduction. This decision came with a cautionary message regarding the possibility of further decreases in the coming years.

How Small Business Saturday is Transforming Communities

According to the U.S. Small Business Administration (SBA), Americans spent an estimated $17 billion on Small Business Saturday in 2023, highlighting its significant impact. Celebrated annually after Thanksgiving, Small Business Saturday was launched in 2010 by American Express and has been supported by the SBA since 2011. This event emphasizes the vital role that small businesses play in the U.S. economy.

Entrepreneurship rates have been trending upwards in the United States for the past 19 years.

The top three challenges in entrepreneurs:

1) Recruiting

2) Inflation

3) Insufficient Capital or Cash Flow.