One of the most significant topics in virtually any industry is inflation. Currently, avoiding conversations about inflation seems impossible, and it is not good news for business executives or workers. The inflation and uncertainty in the stock and crypto markets make conversations around full recovery inconclusive. According to the U.S. Bureau of Labor Statistics (BLS), consumer prices have risen to 8.3% – the highest inflation rate recorded since 1981. The producer price index (PPI), an indicator of consumer price, also rose to 11.2%. Which raises further questions about the inflationary effects on wages and benefits?
With rising inflation and economic uncertainty, there is no better time to maximize cost-efficiency than the present. While business executives are looking to make more capital investments, they are also considering minimizing the tax burden on operations and properties using methods like cost segregation. Using this analysis to reduce costs due to asset depreciation can be highly worthwhile for business owners.
Despite the pandemic, the cannabis industry is one of the fastest-growing industries in the US and the world. As local, national, and international regulations begin to ease, the industry is expected to boom over the years. Because of this, businesses in and around the cannabis space are popping up across the United States.
The House has passed a bill that would replenish the Restaurant Revitalization Fund. Restaurant and bar owners should monitor the legislative situation so as not to miss out RRF funding of up to $5 million.
With rising inflation and economic uncertainty, businesses worldwide are struggling to manage operations while keeping employees on the payroll. Looking for every opportunity or benefit for your business should be a top priority right now especially for startups. As a startup business you may not believe you have the time and effort available to research and apply for these credits and this could be detrimental to your firm.
Procurement is the thread that holds production, sales, quality, sustainability, and supply chain management together. Thus, it is a commonplace to see business executives on high alert on procurement processes. Consistency reviewing your business's expenses and strategies can help reduce waste and overages and even help turn a more significant profit. How your business is procuring energy is no different from many other expenses.
As businesses and corporations the world over put the struggles of the global pandemic behind, the battle for economic stability lingers. Now more than ever, business executives are dealing with a different economic downturn: impending recession.
As more businesses create a digital presence, the ability to process credit cards and online payments has become standard operating procedures. Beyond the weekly and monthly expenses business executives deal with, merchant fees are a nightmare. If you are not conversant with the financial jargon, statements, rates, and charges, you could be at a loss as to what the best is for your business. This is often where merchant aggregators become a part of the conversation.
The word 'Flexibility' took a new meaning in the workplace when COVID-19 happened. While businesses navigated the hurdles of keeping their workers safe, the need for remote work persists. Hybrid work environments became more abundant and continue to be a large part of employers' offerings moving forward.
As we put the effects of the pandemic behind us, noticeable challenges are currently plaguing the workplace and supply chains. These issues hinder employers from attracting and keeping workers on the payroll. More so, these issues hamper the operations of the business. While some supply chain issues are out of your control as a business owner you can manage others.