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Founder and CEO of CreditHub , an award-winning high-tech and high-touch SaaS lending platform that helps companies to scale. getty Business credit is an important tool for any business, small or large, to access financing and grow. In the past, business credit was often tied to the personal credit of the business owner, making it difficult for businesses to establish their own creditworthiness. In recent years, however, there has been a move toward separating personal credit from business credit. This lets businesses build their own credit histories and get loans based on how well they do financially. So what does the future hold for business credit? Here are a few predictions. Increased Use Of Alternative Data Traditionally, business credit has been based on financial data such as credit card and loan history. But in the future, it’s possible that alternative data will be used more and more when deciding whether or not to give a business credit. This could include data on the business’s social media presence, customer reviews and even data on the business’s supply chain. Using alternative data can help lenders get a more complete picture of a business and its creditworthiness. It can also make it […]

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Business aviation operators are often challenged with crew and aircraft shortages as they look to scale and meet the growing post-pandemic demand for air travel. With industry-wide staffing shortages, operators need to figure out how to attract pilots and other crew members — whether it be to fill full-time vacancies or add temp positions to meet urgent scheduling needs. Inspired to build a tech-forward solution, Alek Vernitsky and Alek Strygin co-founded Portside , which allows aircraft operators to share schedules, financial and maintenance data, and other key aircraft information with owners, banks and insurance companies through a web-based portal. Portside today announced that it raised $50 million in a Series B funding round led by Insight Partners with participation from existing investors including I2BF Global Ventures, bringing the company’s total raised to more than $70 million. Portside is Vernitsky and Strygin’s second venture after tour agency startup GetGoing, which they sold to business travel management firm BCD Travel in 2016. Vernitsky was previously head of product at thredUp and for years was an SVP at BCD Travel (as was Strygin) following the GetGoing acquisition. “Portside provides an integrated platform and strives to be a one-stop shop for flight departments,” […]

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Home Depot co-founder blames ‘woke diversity’ for businesses failing to ‘hit the bottom line’ — here are 3 stock picks you shouldn’t snooze on if you agree After a rant on the rise of socialism and “lazy” workers in the United States, Home Depot’s 93-year-old co-founder Bernie Marcus has now taken aim at “woke” business leaders. The billionaire businessman was left raging at claims made in the World Economic Forum’s annual meeting in Davos that the world must “spend more money on climate control.” “We don’t have it. We’ve already overspent,” Marcus said in an interview on Fox Business Network. And he doesn’t want the “woke generation” business leaders committing even more money to the cause. “We need leaders who are basically thinking about the shareholders and their employees,” he added. "And I think today it’s all about woke diversity, things that don’t hit the bottom line.” Don’t miss You could be the landlord of Walmart, Whole Foods and CVS (and collect fat grocery store-anchored income on a quarterly basis) Better than NFTs: You don’t have to be ultra-rich to own a piece of a Pablo Picasso . Here’s how to enter the fine art market Rich young Americans […]

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Intel Corp. is cutting executive and employee pay as it struggles to navigate a sharp downturn in sales. Just days after posting brutal quarterly results , the chipmaker Tuesday evening confirmed the move, with reductions reportedly ranging from a 25% cut to CEO Pat Gelsinger’s base pay down to a 5% trim for midlevel employees. Contributions to 401(k) plans were also being reduced and merit raises and quarterly bonuses halted. “As we continue to navigate macroeconomic headwinds and work to reduce costs across the company, we’ve made several adjustments to our 2023 employee compensation and rewards programs,” the company said, according to an emailed statement. “These changes are designed to impact our executive population more significantly and will help support the investments and overall workforce needed to accelerate our transformation and achieve our long-term strategy.” Want more Portland business news? Sign up for our daily email newsletters. Intel (Nasdaq: INTC) began layoffs late last year in an effort to shave $3 billion in spending this year on the way to reductions of as much as $10 billion in 2025, although no job cuts have been formally announced in Oregon. Intel is the largest private employer in Oregon with about […]

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Irma Becerra is president of Marymount University , a comprehensive doctoral-granting university known for its innovative curriculum. getty From climate change to the digitalization of healthcare, there is no shortage of significant challenges staring back at the next generation of workers. Opportunities abound for those intent on making a difference in the rapidly evolving global job market. Knowledge workers who wish to excel in business today must bring their expertise and necessary skills to the workplace. Many employment opportunities geared at knowledge workers at today’s most sought-after companies require at least a bachelor’s degree beyond entry-level positions. In the last two years, thousands of students left the degree track when offered significant incomes by employers with no degree requirements. Companies like General Motors, Google, Bank of America, IBM and Tesla have been removing college degree requirements from job descriptions that traditionally required them. However, alongside the personal benefits a professional can gain from earning their degree, there are multiple reasons why business leaders should consider getting behind and supporting employees intent on completing their college studies. Organizations benefit from employees pursuing higher education. Supporting employees determined to earn college degrees should prove well worth the time, effort and money […]

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Company’s Supplier Diversity Program Recognized by Women’s Business Enterprise National Council WILMINGTON, Del., Feb. 1, 2023 /PRNewswire/ — DuPont (NYSE: DD ) today announced it has been named one of the 2023 America’s Top Corporations for Women’s Business Enterprises (WBEs) by the Women’s Business Enterprise National Council (WBENC). The America’s Top Corporations award is the only national award honoring corporations for world-class supplier diversity programs that reduce barriers and drive growth for women-owned businesses. Continue Reading 2023 America’s Top Corporations for Women’s Business Enterprises "We’re honored to be recognized as a WBENC 2023 America’s Top Corporation working to increase opportunities for women-owned suppliers and entrepreneurs," said Miguel Gonzalez, Chief Procurement Officer at DuPont. "At DuPont, we are committed to helping our diverse suppliers thrive because their innovation and motivation are critical to our ability to grow and win in the marketplace. Strengthening our supply chain is a priority; cultivating and developing relationships with diverse suppliers in the communities where we live and work is our goal." "WBENC is proud to honor the 2023 America’s Top Corporations for Women’s Business Enterprises, including DuPont, for their continuous and growing commitment to creating business opportunities for women-owned businesses," said Pamela Prince-Eason, President […]

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New Orders and Production Contracting; Backlogs Contracting; Supplier Deliveries Faster; Raw Materials Inventories Growing; Customers’ Inventories Too Low; Prices Decreasing; Exports and Imports Contracting This report reflects the recently completed annual adjustments to the seasonal factors used to calculate the indexes. TEMPE, Ariz., Feb. 1, 2023 /PRNewswire/ — Economic activity in the manufacturing sector contracted in January for the third consecutive month following a 28-month period of growth, say the nation’s supply executives in the latest Manufacturing ISM ® Report On Business ® . The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management ® (ISM ® ) Manufacturing Business Survey Committee: "The January Manufacturing PMI ® registered 47.4 percent, 1 percentage point lower than the seasonally adjusted 48.4 percent recorded in December. Regarding the overall economy, this figure indicates a second month of contraction after a 30-month period of expansion. The Manufacturing PMI ® figure is the lowest since May 2020, when it registered a seasonally adjusted 43.5 percent. The New Orders Index remained in contraction territory at 42.5 percent, 2.6 percentage points lower than the seasonally adjusted figure of 45.1 percent recorded in December. The Production Index reading of […]

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Leva brings 20 years of broad commercial expertise to Exothera from a range of experiences with CDMOs, therapeutics, and software companies. Exothera S.A. , a full-service Contract Development and Manufacturing Organization (CDMO), has appointed Darren Leva as Chief Business Officer. Leva’s extensive commercial experience in biotherapeutics CDMOs will further extend Exothera’s business and commercial capability across existing and brand-new markets. Experience Leva brings 20 years of broad commercial expertise to Exothera from a range of experiences with CDMOs, therapeutics, and software companies. Most recently, he held leadership positions in Cell and Gene Therapy at Thermo Fisher Scientific while also being deeply involved in the manufacturing response to the Covid-19 pandemic. As Head of Commercial Operations, he helped build and lead both GMP Plasmid and GMP Cell Therapy businesses. Leva’s diverse experiences in the software industry have helped him develop a deep understanding of data-driven processes, which, combined with Univercells’ unique technologies and bioprocessing capabilities, will help Exothera realize its vision of making cell & gene therapy available to all. Prior to joining Thermo Fisher, Leva held various commercial roles at several start-ups and growth-stage companies, including IntroMaps, Althea Technologies (now Ajinomoto), Cerimon Pharmaceuticals, and Seven Bridges Genomics. In his […]

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Former legal business industry leader at Accenture will accelerate growth of contract lifecycle management services and financial services offerings NEW YORK, Feb. 1, 2023 /PRNewswire/ — Deloitte announced today that Jonathan Jones has joined its Legal Business Services team as a managing director based in New York. Jonathan, who formerly served as a risk and compliance senior industry leader at Accenture, brings over 20 years of experience working for and with large institutions to mature their contracting operations and their treatment of legal data. His knowledge in banking, technology and legal operations as well as in developing core process and technology transformations will help accelerate the growth of Deloitte’s rapidly expanding practice while offering enhanced data insights for clients. "With the pace of change in contract lifecycle management (CLM) transformation accelerating as companies seek out better processes, technology and skills to enhance their supply chains, and speed up time to revenue, CLM is finally getting the strategic investment attention its impact merits," said Mark Ross, principal and co-leader, Legal Business Services, Deloitte Tax LLP. "Jon brings incredibly deep CLM credentials in both technology as well as legal managed services that will be instrumental in enhancing our clients’ contracting transformation […]

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The Launch Program will provide 20 women and non-binary small business owners with a $10,000 grant and six months of educational programming. SAN FRANCISCO, Feb. 1, 2023 /PRNewswire/ — Applications are now open for the Launch Program , a grant and mentorship program that will provide 20 women and non-binary small business owners with a $10,000 grant and six months of educational programming, from the 501(c)(3) nonprofit organization Ladies Who Launch . The 2023 Launch Program is open to women and non-binary small business owners who operate consumer packaged goods businesses, including businesses selling items like food and beverages, household goods, apparel and more—with an annual gross revenue between $100,000 and $499,000. The deadline to apply for the 2023 Launch Program is Friday, March 31. Continue Reading Each of the 20 women and non-binary small business owners selected for the Launch Program will receive: The Launch Program will provide women and non-binary small business owners with $10k grants and six months of education. Tweet this A $10,000 grant to help them scale their businesses. Six months of programming, including educational sessions from industry experts to answer their biggest questions and support the program participants’ growth. Mentorship and one-on-one coaching […]

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