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More state lawmakers are introducing bills to keep their state governments from doing business with financial institutions that take environmental, social or corporate governance into consideration when making investment decisions. Critics say these bills are designed to boost fossil fuel companies and will end up costing taxpayers. (Photo by Joe Raedle/Getty Images) Republican state policymakers’ efforts to boost fossil fuels by prohibiting their governments from doing business with companies that take sustainability into consideration has the potential to cost states millions, according to a study released Thursday. Researchers looked specifically at the possible effects on Florida, Kentucky, Louisiana, Missouri, Oklahoma and West Virginia if they passed Texas-like legislation limiting investment options on municipal bonds and found it could cost them between $264 and $708 million in additional interest payments. The study noted that the states had not passed such broad legislation. The six states are among two dozen that last year issued proposed or passed legislation prohibiting state government entities from doing business with financial firms that take environmental, social and corporate governance (ESG) into consideration when making investment decisions as anti-ESG efforts spread from state treasurers and attorneys general to governors and lawmakers. Republican policymakers refer to ESG […]

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Jake Judd/KNSI News (KNSI) – Two existing Waite Park businesses are hoping to open new locations soon within the city. Banfield Pet Hospital could soon get the okay for a standalone facility. The issue was expected to come before the city council on January 3rd, but weather canceled the session. Instead, it is set for debate this Wednesday. The veterinary clinic is currently located inside PetsMart. The business wants to open in the Marketplace Shopping Center on 2nd Street South. The new site is zoned B-2 for commercial and general business, which requires a conditional use permit for an animal hospital. The details have already been recommended by the city’s planning commission. It has not been decided if the PetsMart location would remain open. Exterior signage for the new site would have to be approved through a permit in the future. A possible kennel run for the dogs is not included in the upcoming hearing and would need to go before the city council at a later date. Schulte Transmission is attempting to move into the Poganski Auto site on 3rd Street North. Schulte would operate a major automotive repair business there. Poganski Auto had a Conditional Use Permit […]

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Good morning, everyone. The Business Journal’s offices are closed today, but here is an abbreviated version of the five things you need to know in Boston business news today. We’ll be back in full swing in this space tomorrow. ‘The Embrace’ unveiled Unless you’ve been trapped under a large piece of living room furniture for the past couple of weeks, you know the 22-foot-high sculpture called “The Embrace” has now been installed and unveiled on Boston Common. Scroll down for more, plus photos from Friday. The cost of cannabis Despite a widespread perception that cannabis entrepreneurs rake in the profits, the industry faces plenty of unique burdens. In the latest Weekly Edition , Cassie McGrath takes a closer look at the restrictions and obstacles such businesses endure , from curbs on advertising to prohibitively high taxes and real estate costs. Join the BBJ for a discussion on the economy at our Economic Outlook luncheon, Jan. 26 at Seaport Hotel Boston. Register here. Holiday sales slog Local small businesses saw the dollar amount in holiday sales increase by just over 1% compared with the 2021 holiday shopping season — a far cry from the 4% annual increase that the Retailers […]

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Davos 2023 Digital technology can make business more efficient and profitable, but also smarter and more agile. Crowdsource Innovation Businesses need to undergo digital and sustainable transformations in parallel. They can use digital technology for everything from product development to manufacturing and operations, making use of vast amounts of data. To become a truly sustainable business requires a fundamental redesign of systems and processes. The next era of industrial transformation, enabled by technology and data, will impact all sectors and reshape the way we operate, interact, and consume. It will present an opportunity for business leaders to transform their business models and value chains in a sustainable way. This will involve navigating numerous risks and navigating a complicated context. We need to undergo two major transformations in parallel: digital transformation and sustainability transformation. Digital can not only make business more efficient and profitable but also more agile and smarter, adjusting to consumer needs and changing market conditions. The advent of smart products will give consumers a much stronger ability to take control based on accurate insights for their everyday lives. At the same time, business leaders need to play their part in our collective decarbonization and transition to a […]

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The 2023 EY and University of St.Gallen Family Business Index reveals the largest family enterprises are growing faster than the global economy. In brief The largest 500 family enterprises generate US$8.02 trillion in revenue – up 10% from 2021. The inflow of new entrants, mainly from Europe (35%), is mostly public (64%). Almost half (47%) are from manufacturing, reflecting recovery in the sector. Women hold only 23% of board seats, indicating more needs to be done to close the gap. Collectively, the family enterprises that were included in the 2023 EY and University of St.Gallen Family Business Index generated $US8.02 trillion in revenue – a 10% increase on the 2021 Index 1 . According to the International Monetary Fund 2 , the global economy grew by 6% in 2021, and is forecast to grow by 3.2% in 2022 and 2.7% in 2023. This means family enterprises have been growing at nearly twice the rate of advanced economies and around one and a half times the rate of emerging market and developing economies. Between them, the 500 companies on the Index employ 24.52 million people, up 1.4% from 2021, and are distributed across 47 different jurisdictions. The Index highlights, once […]

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Owner Patty Wolfe takes a phone call last week inside Yesterday’s RAVE Antiques in Greensburg. The rapid growth of Yesterday’s RAVE in Greensburg has been a surprise to co-owner Patty Wolfe. The store that specializes in antique and vintage items with 15 vendors in a renovated space at the former Schaller’s Bakery building on Highland Avenue opened in November 2021. As more sections of the building opened in the ensuing months, the number of vendors quickly increased. “We went from 15 dealers to 115 dealers in one year,” she said. Now, Wolfe shares a commonality with other similar stores around the area: a waiting list for vendors to get in. The popularity of antique and vintage stores that provide space to vendors to sell their unique items seems to have been growing in recent years. An annual survey conducted by the Asheford Institute of Antiques found that in 2021 anything art deco style had strong sales among buyers between 20 and 40 years old. Young people or couples has been an increasing age group visiting Diamond Antiques and Gifts in Tarentum, owner Dianna Roney said. “We’re not stuffy old grandma stuff,” she said. Textiles, such as clothing, scarves and […]

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True teamwork begins to take shape with a recognizable culture of collaboration within your … [+] Getty Images While there are many factors that can play a role in creating the ideal office culture, few things can prove more important than building a culture of collaboration. In fact, research from Stanford reveals that working in a collaborative setting makes employees 50% more effective at task completion, while also boosting their engagement and motivation. It may sound cliche, but it’s true: your team is the lifeblood of your business. No matter what your industry, building a healthy office culture driven by collaboration is key to driving outcomes for your company. Positive work cultures have been found to boost productivity, engagement, retention and other vital statistics. Building a collaborative culture within your business is well worth the effort — and with the right practices, you can quickly strengthen this aspect of your work. 1. Establish a Foundation of Trust and Communication As a leader, you set the tone for how collaboration can be carried out within your organization. Similar to establishing strong partnerships with other businesses, an internal collaborative culture needs a solid foundation of consistent communication and transparency. This doesn’t […]

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A Washington County working space and small business accelerator event will be at the Mills Seed Co. Building on the 22nd. This “Idea Mill” event is geared toward individuals currently operating recently formed startup businesses or are thinking about doing so. The reason behind the event is to bring like-minded people together to share ideas and to help develop businesses in the Washington area. Discussion will be had on what it takes to begin a company and the challenges that go with that process. This event will run from 2-3 PM. You can find a link to the event with this news story at KCIIradio.com.

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While Triad business leaders are bullish about the Triad economy , their top challenges for 2023 are very much in line with concerns cited by their counterparts statewide in a Business Journals statewide economic outlook survey. The rising cost of business, with inflation a major part of the equation, tied with the U.S. economy as the top concern cited by respondents across the state in the survey. That finding is echoed by 12 Triad business leaders ( see below ) that TBJ’s news team approached at Thursday’s N.C. Economic Outlook event at High Point University. Labor and access to capital were among other top concerns local leaders to the highlighted, again mimicking survey that was conducted statewide. In the Business Journals survey a year earlier, the U.S. economy was the No. 1 concern, with rising costs second. The global economy has been the third-greatest concern both years. Access to capital, business loans and credit was the concern that jumped the most as somewhat or very concerning among respondents, cited by 41% compared with 32% a year earlier. A closer look reveals a slight difference by metro area in which concerns ranked highest, with rising costs the greatest concern cited […]

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Corporations can advance stakeholder metrics by joining the Global Alliance for Social Entrepreneurship. Crowdsource Innovation By partnering with social entrepreneurs, corporations can deliver measurable progress to help protect and regenerate environmental ecosystems, develop and invest in communities, promote value chain resilience and advance strategic business objectives. Social enterprises already partner with business but there is much room for broadening the scope within value chains. The Global Alliance for Social Entrepreneurship and its 100 plus members are surfacing partnership opportunities between social entrepreneurs and corporations and building the business case for collaboration. Today, there are many examples of social enterprises, cooperatives and innovative, entrepreneurial non-profits that have long created social and environmental value and provided pioneering examples of purpose-driven ways of organizing economic activity. As such, they are already improving the lives of hundreds of millions of people and changing whole industries . Partnering with these potent change actors could allow businesses to trial new approaches that help them navigate the challenges of the year(s) ahead while simultaneously achieving business objectives. And as businesses find themselves operating in a challenging economic environment, they should prioritize such engagements with urgency to help build resilience for future market disruptions. From rising inflation, […]

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