News Roundup for Small Businesses: Issue 4, February 25th
News Roundup for SMBs is a new series we’re starting this year, with a new issue coming out every week. We’re putting together news regarding Finance, Economy and Small Business Opportunities, so you can spend less time reading up on the news and more time focusing on growing your business.
Kraft Heinz has not been having a good week. Between writing down the value of its Kraft and Oscar Mayer brands, posting a $12.6 billion loss, cut its dividends by 36% and announcing their accounting practices are under investigation by the Securities and Exchange Commission, people are still wondering how it got to this stage. CNN goes more in-depth in understanding Kraft Heinz’s business strategy and stock strategy and explains how they got here.
Etsy’s improvements in user experience and marketing investments - including its first-ever national TV advertising - have brought in great results: the fourth-quarter sales exceeded expectations, bringing shares to their highest level since the company’s IPO in 2015. We can only hope such growth will also encourage small and not so small crafters to keep building their businesses through Etsy.
The United States is facing the lowest unemployment rate in 50 years. And while this is great news for the country, it can make competing for employees difficult for small businesses. If you’re wondering how to remain relevant for potential employees, Small Business Trends put together a great starter guide.
After a proposed bill to prohibit the inclusion of confessions of judgment in a contract or agreement for a financial service or product, New York legislators come forward with a new bill, this time proposing to apply consumer usury protections to small businesses. As defined in the bill, a small business is “one which is resident in this state, independently owned and operated, not dominant in its field and employs one hundred or less persons.”
Everybody is excited about the potential of 5G networks, as they will bring in the next wave of technology. And while each of the four nationwide cell phone carriers (AT&T, Sprint, T-Mobile, Verizon) is building and testing 5G network technology, only AT&T has launched 5G services in 12 cities and is planning to add to the fold another nine this year. The other cell phone carriers will start implementing their network updates starting mid-year.