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In the past few months, companies realized the need to adapt their digital transformation faster. Companies that had plans in the pipeline for their organizations have suddenly lost their fear of taking the plunge and managed to make changes in just a few weeks.
It’s easy to assume that someone who decided to go into business in recent months couldn't have picked a less opportune time. However, some businesses are benefiting from the global crisis instead of hanging on for dear life. In fact, during the first month of this pandemic, Amazon’s net worth was reported to have increased by $24 billion.
Walmart, BJ’s Wholesale Club, Lowe’s, and Home Depot are among the large companies that can claim to have felt the increase of 17.7% in retail sales in May compared to the figures of April. This has surpassed the 8% that had been forecast by many experts.
Many companies have shifted to on-demand employees to optimize costs, survive and flourish in a post-COVID 19 world. While there were contingent employees for many years, very few companies relied principally on independent contractors and freelancers. Contracting positions were primarily open to highly experienced administrative professionals or seasonal employees.
The way the world works has changed over the last few months, and changes in work schedules have had quite an impact on all aspects of our lives. Most significantly, mental well-being has taken a hit: widespread shutdowns have limited mobility, and constant isolation has begun to affect some household relationships.
According to a report from Big Market Research, the revenue for cloud hosting services is predicted to hit an all-time high. Indeed, the boom in cloud hosting signifies a desire for portable data storage with minimal maintenance costs. Such technology could be the answer for many small businesses.
The novel coronavirus has caused a widespread alteration in regular life around the world. Many businesses have already permanently closed their doors, with companies and businesses in hospitality, tourism, arts and entertainment, and beauty and cosmetics seeing a sharp decline in annual revenue.
Aside from the obvious benefits for the environment, being sustainable is proven to improve your company’s reputation and financial value, according to research by the Sustainable Business Network.
As the Indian economy continues its battle to recover from the devastation of COVID-19, pandemic’s impact has once again been reiterated by a report from the International Monetary Fund (IMF). The report projects a sharp contraction of 4.5% in this fiscal.
Good news for movie aficionados: the nation’s biggest theatre chains are preparing to open up their cinemas to the public once again in July. The reopening comes with new rules to be followed, and the timeline for how long these guidelines will be in place is, for now, at least, undetermined.
In 2018, Elon Musk recommended that people need to work "80 to 100 hours per week" to change the world. Businesses certainly need lots of attention, especially in the early days; in that sense, Musk is right. However, this cannot be healthy. Entrepreneurs that work long hours for extended periods risk suffering from burnout and unsustainable stress.
Yoco is a South African company that makes card payments possible for the informal, rural, and SME merchants. They started the business in 2015, nine months after similar businesses. Instead of worrying about their late entry into the market, they worked on perfecting their business model.
It is no longer a debate that everyone must do their part to help preserve the planet on both the individual and the industry level — it is a fact. According to the UNF Center for Sustainable Practices, building a sustainable business is based on three principles: people, planet, and profit.
Jay Kamhi, the 59-year-old founder of Kamhi World Toys, has been an entrepreneur since he was a teenager, spending the first 20 years as a vendor on the streets of New York.
Despite the slump in consumer spending during the pandemic, companies such as Glossier and Tenzing have been trekking full steam ahead when it comes to new product launches.
The pandemic has tilted the economy downward, and many people looking for ways to move on. Fortunately, there are companies around who are willing to give out generous grants for research.
The are several benefits to owning a credit card, such as keeping track of your transactions, building a credit score, borrowing without paying interest. The list is endless, so you should check out these options and get a credit card right away.
The majority of the measures you might have taken for your previous tax filing expired on Dec. 31, but not all of them. There are still several actions that taxpayers should take before July 15 to help minimize the blow. Some have been available to taxpayers for years, while others stem from last year's Tax Cuts and Jobs Act.
Entrepreneurs host a multitude of different skills, and their ability to calculate new business ventures has become a pivotal driving force in the global economy. An index created by the Global Entrepreneurship and Development Institute has set out to measure the quality and complexity of intertwined entrepreneurial skill sets, as well as how they function on a global level.
Ecommerce is gearing up for some significant changes in the way it works. The global commerce market predicts that by the end of 2020, ecommerce sales will make up 16% of all retail sales globally, a drastic change that has happened over only a number of recent years.
Having a great boss makes any job easier and more worthwhile. Enjoying better management and organizational setups in any occupation can give employees higher levels of morale, and one can hope to see an increase in production output.
According to the US Census Bureau, the highest five-year survival rate for new businesses is 51.3%, and founders who have had a previously successful business have a 30% success rate with their next business venture. More than 80% of successful business owners admit that they have the right qualifications and backed up experience to run a company — even with limited cash.
All marketers want to be in on the latest techniques that can deliver maximum efficiency and competitive advantage. Want to up your game too? The latest marketing research indicates that the objective goals of startups and small businesses are to increase sales and maximize their profits.
Today, most venture capitalists offer much more than funding and understand that budding entrepreneurs also need support through inspiration and incentives, no matter their background, culture, or gender.
The latest trends in AI are astounding: according to Sundar Pichai, Google’s CEO, it is crucial in our lives. Speaking at a San Francisco town hall event, Pichai asserted that “AI is one of the most important things humanity is working on. It is more profound than, I dunno, electricity or fire.”
The new digital era, defined as 2020 and beyond, requires a fresh approach to business tools — particularly analytics and big data tools. Here is the latest news to stay ahead of the curve.
House Democrats passed a largely symbolic bill last May rolling back two controversial tax provisions that had been slipped into the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Investor interest and capital funding for startups started to drop toward the end of February 2020, putting a halt to a year that began with an upward trend. All early indications were that 2020 was set to match the record highs of 2018, with high investor demand and plenty of capital available for budding and existing entrepreneurs.
Former Fed Chair: It’s “Crazy” and “Cruel” Not to Extend the $600-Week Enhanced Unemployment Benefits6/19/2020
At the end of July, the extra $600 a week in enhanced unemployment benefits that jobless workers currently receive from the federal government will expire.
In recent months, Uber and Lyft drivers had been spotted on strike while demanding higher pay and an increase in benefits. Drivers from these companies have found themselves misclassified in their respective jobs, being labeled as independent contractors. This misclassification resulted in a decrease in the number of benefits available to their hard-working drivers.
According to the most recent government statistics, nonfarm employment rose dramatically in May. These job creations were mostly in the leisure and hospitality business, but they clearly indicate that business is picking up again.
As Some Americans Return to Work, Top Business Advisers Suggest Using Nature to Improve Productivity in the Office6/19/2020
With thousands set to return to work, the focus now needs to be on how business owners can help their employees in these unprecedented times. Stress is something that has no benefit to anyone. So, how can business owners and workers kill stress and boost productivity in the office? This question is especially important after such a long lay off; the need to motivate your employees is arguably more challenging than ever.
New Paycheck Protection Program Law Extends the Period From 8 Weeks to 24, Reduces the Payroll Percentage6/19/2020
Congress has just passed the 2020 Paycheck Protection Flexibility Act and improved the Paycheck Protection Program (PPP) for small business loans.
According to Jeff Martin, Senior Director as EAB, front-line fundraisers are reported to be “...having trouble getting new prospects to take meetings. They’re having trouble opening up the conversation about giving with people who they don’t have established relationships with.” While this study focuses primarily on university fundraising, the same decline can be seen in the business world.
The world has gone through immense changes in the last decade, meaning businesses and companies are quickly shedding traditional ideas and making space for modern adaption. Artificial intelligence (AI) and robotic process automation (RPA) have become some of the most noteworthy additions to the world of business.
Economic downturns and recessions may appear like a bad time for aspiring entrepreneurs to develop their business ideas. However, as consumer spending drops and millions of companies around the globe scrutinize their business models, history has shown that recessions create space for newcomers with great ideas in the business community.
The unemployment rate dropped to 13.3% in May, bringing some long overdue good news regarding the desperate state of jobs in the US. It also brings good news for the US economy as a whole.
Green entrepreneurship, environmentally friendly, and green ventures are a few of the terms that describe the revolutionized green industry that is becoming more and more popular and is being followed by many businesses today.
According to a recent statement by renowned SAS author Philip Russom, one of the definitions for the term “big data” is based on the 3Vs: volume, variety, and velocity. The latest research on big data and its impact on business backs this up with some interesting findings.
Sustainable aviation fuel is about to become available to the commercial market through the technologies developed by LanzaTech over the last 15 years. The technology that creates ethanol from carbon emissions from various sources, including power plants, can be used as fuel and for chemical manufacturing.
Internationally, governments are reporting a downfall in businesses and the economy. However, a lot of online businesses now have expanded their services from the local market to the global market space in an attempt to keep their businesses moving along. If your business is one that is facing economic challenges during the pandemic, this could be a solution to help keep you afloat.
Recent reports indicate that many people are still financially devastated and out of work due to the global pandemic. However, data is showing that the unemployment rate has recently declined.
Upon Nike’s switch to direct-to-consumer (DTC) in late 2019, many companies began considering officially making the change to a direct-to-consumer business model. As we experience new challenges, struggles, and ways of living, there are problems, tips, and tricks for the world of direct-to-consumer businesses that you should know.
That the IRS has extended their payment deadline is a relief to those facing a recent financial hit. This extension grants people extra time to pay their taxes and also gives them time to learn more about their tax filing process.
Hundreds of businesses are formed every year, but not all of them succeed. While many businesses end up failing, the following ten have been incredibly successful. For these companies, innovation, creativity, and resilience have paid off — and in a big way.
Companies with fewer than one hundred team members, self-employed individuals, and sole proprietors have all been looking forward to the new revival of the Paycheck Protection Program.
The world's wealthiest CEOs rake in millions to billions every year with their success stories. From Arora to Zaslav, we’ve compiled a list of the highest-paid CEOs of 2020 and their notable feats.
As the fear of the virus still lingers, the world is beginning to open back up with exuberant levels of caution. As a business owner, you might have become accustomed to seeing your customers filter in and out of your stores.