It took me 20 years of trial and error before I achieved a multimillion-dollar net worth. Now, at 64, I draw income from the 18 companies I started and the 12,000 apartment units I own. But I wish I h...
Tag: Business Owner
Fed rate hike pushes business loans over 10% for first time since 2007
With the Federal Reserve’s latest rate hike adding half a percentage point to the cost of debt capital and reaching its highest level in 15 years, the majority of small business loans will hit t...
Why salaries in the United States don’t keep up with inflation
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they’re...
Layoffs mount, and Main Street still can’t get anyone to take jobs
A “Now hiring” sign is displayed on the window of an IN-N-OUT fast food restaurant in Encinitas, California, May 9, 2022. Mike Blake | Reuters When it comes to salary, small business owner...
How much small business owners should pay themselves
Many small business owners have trouble figuring out an appropriate take-home pay as the company expands, and some don’t pay themselves at all. These mistakes can easily come back to bite the founder ...
Small businesses desperate for workers even as companies slow hiring
While some companies have slowed the pace of hiring due to concerns about an economic slowdown, the demand from small businesses for new workers has not yet shown signs of declining, Paychex CEO Marty...
Bethenny Frankel on why good ideas are not enough to be successful
“I truthfully didn’t even know the word entrepreneur. I was in my late thirties, and I didn’t know the word ‘brand,’ I didn’t know the word ‘entrepreneur,'...
Main Street confidence hits all-time low on belief recession is here
Fg Trade | E+ | Getty Images Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft la...
Main Street businesses land record $154 billion in federal contracts
The federal government awarded $154.2 billion to small businesses in fiscal year 2021, an $8 billion increase from the previous fiscal year, according to data from the Small Business Administration re...
What Main Street and the economy need from Congress: Goldman Sachs CEO
Pawel Toczynski | The Image Bank | Getty Images The U.S. economy is going through one of the most difficult periods I’ve seen in my 40-year career. Inflation, labor shortages, supply chain disru...
Most business owners don’t do the math on their most valuable asset
Many small company owners don’t know what their enterprise is worth, a practice that can amount to risky business. A whopping 98% of small businesses polled by M&T Bank over the past two yea...
Behind on retirement saving? A bad market can be a good time to invest
Small business owners are among the Americans most likely to fall behind on saving for retirement. Investing back into a business is more often a priority for entrepreneurs with any excess cash than i...
America’s small businesses aren’t ready for a cyberattack
Some of the highest profile cyberattacks on the U.S. in recent years are alleged to have originated in Russia, including the 2021 attack on the Colonial Pipeline — the largest fuel pipeline in the U.S...
Why ‘free’ shipping isn’t free
The big carriers such as FedEx, UPS and Amazon make lots of deliveries, and none of those packages are being shipped for “free.” “People like free shipping because the word free is v...
What to know before filing business taxes for the first time
In 2021, amid the ongoing pandemic and “Great Resignation,” Americans filed a record 5.4 million applications for new businesses, according to data from the U.S. Census Bureau. That means ...
Need a business loan? Inflation leads Main Street into more debt
SAN FRANCISCO, CA – APRIL 28: Deanna Sison takes a break from preparing preordered lunches to check the status of her federal small business loan application at Little Skillet restaurant in San ...
Here’s what the end of Covid tax breaks means for business owners
Samuel Corum/Bloomberg via Getty Images Rules around small business taxes have changed significantly in the last two years. This year is no exception as many of the various pandemic-era deductions and...
How some small businesses have survived the Covid pandemic without them
The storefront of Mark Shriner’s small business, The Coffee House, in downtown Lincoln, Nebraska. Courtesy: Mark Shriner Mark Shriner needed help. It was spring 2020, and his coffee shop in Linc...