Small businesses are the backbone of the U.S. economy, accounting for 99.9% of all firms and employing almost half of the private sector workforce. However, many small businesses struggle to survive and grow in a competitive and dynamic market. According to the Bureau of Labor Statistics, 20% of new businesses fail within their first year, and only 35% make it to their 10th anniversary. What sets apart the successful small…

Raimondo meets Shanghai officials to discuss trade issues US Commerce Secretary Gina Raimondo met with Shanghai Communist Party chief Chen Jining on Wednesday, as part of her bridge-building trip to China. Raimondo said she wanted to work with China to ensure a more “predictable” environment for American businesses in Shanghai, the economic hub of China. “The US-China economic relationship is among the most consequential in the world,” she told Chen.…

President Joe Biden has announced a series of measures to lower the cost of prescription drugs and improve the economic outlook for Americans. The plan includes targeting 10 drugs for Medicare price negotiations, easing export controls on technology, and supporting job creation. Medicare Price Negotiations for 10 Drugs One of the main components of Biden’s plan is to allow Medicare, the federal health insurance program for seniors and people with…

Businesses today need to connect with their community of customers, partners and peers in order to stand out and grow. However, many businesses struggle to find the right balance between being helpful and being intrusive. How can you engage your community in a natural and authentic way that builds trust and loyalty? Here are four tips from a Forbes article that can help you achieve this goal. 1. Respond Quickly…

The world of business is undergoing a radical transformation as more and more leaders embrace the power of purpose, collaboration, ethics and empathy. These are some of the key trends that are shaping the future of commerce in 2023 and beyond, according to experts and practitioners in the field. Purpose-Driven Profitability One of the most prominent shifts in the business landscape is the rise of purpose-driven profitability, which means aligning…