Why Immigration is Vital for The US Economy

Migrants give important and positive contributors in almost every sector of the US economy. It is in large measure because of the influx of migrants that the US economy sustains and grows, new jobs are created, innovation occurs, and local demand grows.

Migrant mechanic

Distribution

In 2017 remittance outflows from the US exceeded $148.5 billion. Top recipients were Mexico, China, India, the Philippines, and Vietnam. Remittances are most commonly sent by migrants to support their families back home.

According to the Migration Policy Institute the US had a migrant population of 44.7 million in 2018. The largest proportion came from Mexico, accounting for 25% of the total immigrant population.…

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Faith In Manufacturing Jobs On The Decline

Although the American economy has grown by about 2 million jobs this year, none of them are in the manufacturing sector. This is alarming news–not just for manufacturing workers, but for the economy at large.

American manufacturing worker

Why is this such bad news? After all, consumer spending has leveled out, and unemployment continues to fall. Even gas prices are relatively low. Aren’t these signs that the economy is strong enough to weather any possible economic “storms” on the horizon? Well, not exactly.

Despite these indicators, people’s faith in the economy is pretty low. Fears about job security are high, reflecting a generally pessimistic attitude among the nation.…

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Is Freelancing The Answer To Today’s Unstable Economy?

The recent economic depression in the United States alerted many working professionals to just how delicate their employment situation is. Many people lost jobs and others lived with the fear of joining former co-workers in the unemployment line. Inevitably, some turned to freelancing as a way to curb their financial losses.

Is Freelancing The Answer To Today's Unstable Economy?

But for some, those freelancing efforts became not just a part-time source of income, but a full-time gig. Laid off professionals found so much success in their freelancing efforts that, in some cases, they stopped looking for new work and stuck with their new source of income.

Of course, that’s not the case for everyone who ventures into the world of freelancing.…

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Is Your Business Aware of Carbon Accounting?

Carbon accounting is the accepted method for calculating how much, or little, your business contributes towards global warming. The concept of carbon accounting has been around for a while now and ERP software developer Epicor has conducted a global survey of businesses, ranging from start-ups to multi-national corporations, on the topic.

They have presented their findings in the above infographic.

Some of the results are astounding:

The fact that 58% of all businesses surveyed were not even aware of carbon accounting is the first shocking statistic, especially from the perspective of green campaigners, but it is maybe even more shocking that of the 48% who were aware of the process, less than 25% understood it correctly.…

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25 Million Small Businesses May Have Zero Employees, But They Contribute to Our Economy

In a recent interview on Barbara Weltman’s “Build Your Business” Radio Show, Anita Campbell of Small Business Trends shared some interesting statistics about small businesses.

She mentioned that roughly 79% of US companies have no employees. Yet, these same businesses, over 25 million, provide full or part time employment for their owners.   So, why does “everyone insist that these types of small businesses don’t contribute to jobs?”   Campbell says that they should be counted. After all, that’s 25 million people NOT in the unemployment line.

25 million small businesses have zero employees

She adds that jobs aren’t everything-when measuring the impact of the smallest, small businesses.   Regardless of what you think of their impact, single employee companies contribute to our economy as they buy products and purchase services.  …

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Five Ways to Tell the Recession is Over

recession recovery0

One of the largest recessions in recent history has been plaguing our economy and impacting the worldwide market for over four years. With unemployment rates still high, market shares making vague, inconsistent progress, and a record number of homes in foreclosure, the question on everyone’s mind is: when will this recession end?

Unfortunately, as people with online finance degrees will tell you, the only way to determine the exact point at which the economy starts its recovery is by living through the tough times and studying the records once it’s over. However, in the meantime there are a few indicators you can use to figure out when the economy is starting to recover and the recession has an end in sight.…

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The Regulatory Strategy for Small Business

It is common knowledge that small business drives job growth and in hopes to generate more jobs, President Obama is ordering government agencies to consider reducing burdens on small businesses. In fact, the president urges a “government-wide review” of business regulations as stated in a Wall Street Journal Op-Ed article. This review of business regulations aims to help small business owners and this is a welcome reprieve as the industry is given a much-needed break by the government.

small business regulatory system

Striking the right balance is important in business as in life. For so long, small business owners have been stifled by different regulations apart from other risks in operating a business, such as the most recent financial woes that businesses continually find themselves in.…

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Are You Ready For American Express OPEN’s Small Business Saturday?

American Express Open's Small Business SaturdayEntrepreneurs are getting ready as everyone looks forward to the inception of a new shopping event: Small Business Saturday. The first-ever event will take place on November 27, as part of American Express Open’s plan to support the local economy.

America’s largest employers are still small businesses and it makes sense that the industry gets the attention it deserves by having a whole day dedicated to it. The national movement is getting more traction as the actual event draws near. Advocacy groups as well as the public and private sector unite to support this national campaign. This concerted effort to support small, independently-owned businesses would help to drive sales in the holiday weekend shopping traffic.…

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Financial Literacy Among Entrepreneurs

financial literacyAny person who is running their own enterprise and is accountable for it can be called an entrepreneur. But not all entrepreneurs can be called financially literate. Financial literacy goes beyond just knowing what goes on in the financial world, it is about understanding finance so that effective decisions about the business can be reached.

With the current economy, there is undoubtedly a need to improve financial literacy especially among those in the business sector. You may have the best business idea or the most innovative products in the market but if you do not have the essential financial knowledge in managing the money your business makes, you are in for a rough ride.…

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Guarding Your Balance Sheet – Tips for Survival in Today’s Volatile Market

saving money in a down economyAs the recession continues to extend into 2010, we continue to be inundated by news about the challenges that face the small business community.

While we are not completely out of the woods in terms of the economy, there are several things that small business owners can do to protect their businesses during these challenging times:

Manage Collections: Outstanding invoices should be aggressively followed up on round-the-clock. Having unpaid invoices will create instability. Be aggressive and assume the worst.

Collect Upfront: Make sure that all of your contracts stipulate payment upfront. Net 30 can stretch into Net 60, then you are stuck doing work for 2-3 months without being paid.…

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