Pedestrians pas stores in Hong Kong, China, on Saturday, Oct. 15, 2022. Hong Kong wants to become an international center for virtual assets as the city seeks to bolster its status as a global financial hub following the disruptions caused by the pandemic. Photographer: Lam Yik/Bloomberg via Getty Images Pedestrians pas stores in Hong Kong, China, on Saturday, Oct. 15, 2022. Hong Kong wants to become an international center for virtual assets as the city seeks to bolster its status as a global financial hub following the disruptions caused by the pandemic. Photographer: Lam Yik/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Hong Kong’s Financial Secretary Paul Chan struck a positive tone during his budget speech on Wednesday as he revealed measures to boost economic recovery after the Covid-19 pandemic, as well as incentives to help businesses and residents. Chan said the city is at the early stages of recovery since the lifting of most of its stringent Covid measures late last year . “I believe that Hong Kong’s economy will visibly recover this year, and I remain positive,” Chan said during his budget speech. “However, the economic recovery is still in its initial stage, and there […]

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New Jersey’s LGBTQ+ business owners could obtain state certification under a new bill that would unlock federal, state and local contracting opportunities and make entities eligible for state agency initiatives. The bill moving through the state Senate aims to create “remedies (for the) lack of opportunity” and “affirms that LGBTQ+ business owners are welcome and encouraged to conduct business in New Jersey,” according to the proposed legislation. “Businesses owned in whole or in part by LGBTQ+ individuals touch all aspects of the economy and add to the commercial diversity that is part of our shared social identity,” Sen. Nellie Pou, D-Passaic, said in a statement. She co-sponsored the bill along with Senate Majority Leader M. Teresa Ruiz, D-Essex. It would cement into law an LGBTQ-focused business certification Gov. Phil Murphy called for in a 2022 executive order . The state already offers a certification program for businesses owned by women, minorities and veterans. What certification does Certified businesses’ contact information gets posted to public databases used by contracting authorities. The Department of the Treasury is currently creating administrative rules for the LGBTQ+ certification program, according to its website . Women-owned businesses include people who identify as women regardless of […]

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Illustration: Aïda Amer/Axios The White House mess will open for in-person dining for the first time in President Biden’s White House on March 6, according to an internal email viewed by Axios. Why it matters: The wood-paneled room with a nautical theme has been closed since the winter of 2020 under COVID restrictions, and its re-opening is the latest sign of the White House’s embrace of a post-pandemic world. In March, officials with the rank of assistant to the president and deputy assistant to the president can invite guests for breakfast and lunch, right outside the situation room. Cabinet officials also will be welcomed. The dining room has been closed for three years, with only the take-out window open, depriving top officials of the simple pleasure of cutting through crispy chicken tenders on White House china. State of play: Casually called the "Navy mess" by those with access, it’s run by Navy personnel and includes standard American fare. The main menu is predictable, but the specials can be ambitious. Yesterday, in a nod to Mardi Gras, creole corn chowder and "ragin’ cajun gumbo" were offered. By D.C. standards, prices are low. A BLT costs $6. The West Wing burger […]

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The skyline with its financial district is photographed on early evening in Frankfurt, Germany, September 18, 2018. REUTERS/Kai Pfaffenbach Business climate index at 91.1 vs expected 91.2 Unexpected fall in current situation index Analyst: No reason to start partying BERLIN, Feb 22 (Reuters) – German business morale improved in February for the fourth consecutive month, adding to signs that Europe’s largest economy is recovering despite the energy crisis and high inflation, a survey said on Wednesday. The Ifo institute said its business climate index stood at 91.1 following a revised reading of 90.1 in January. A Reuters poll of analysts had pointed to a February reading of 91.2. "The German economy is gradually working its way out of a period of weakness," said Ifo President Clemens Fuest. Business sentiment is forecast to continue improving in the coming months, according to Union Investment’s chief economist Joerg Zeuner. "This is because the economy is expected to brighten up towards the summer, as declining inflation and lower energy prices will no longer have such a strong impact on consumers’ purchasing power," Zeuner said, adding that this should benefit the retail sector. LBBW’s Jens-Oliver Niklasch forecasts an improvement in the economic situation, although […]

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Product to visualize complex data, giving leaders insights to optimize sales performance IRVINE, Calif., Feb. 22, 2023 /PRNewswire/ — Performio, a leading incentive compensation management (ICM) provider, announced today that it has launched its new product, Analytics Studio . This powerful new product lets Performio customers get dynamic insights into their compensation data and create business recommendations. The new analytics capabilities leverage predictive artificial intelligence (AI) to generate insights into payable and attainment trends by team, territory, or products, which informs and improves territory, quota, and comp recommendations. In addition, it reports on estimated compensation payables based on the current pipeline in a customer’s CRM system to better plan and manage company-wide commissions payouts. Continue Reading Analytics Studio is the most powerful reporting and analytics package of any incentive compensation platform out there. Tweet this Performio Analytics Studio: Business Intelligence and Advanced Reporting Using Analytics Studio, Performio customers can build executive reporting visualizations, create custom views into their data, gain insights into their business instantly, and use natural language questions to explore the data and create charts easily. In addition, interactive reports and dashboards can be aggregated at any level. Drill down and data exploration capabilities enable customers to […]

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getty One of the things I’ve heard from business owners over the past few months is, “I refuse to participate in the recession.” It’s hard not to admire the can-do entrepreneurial fire behind this statement. In order to avoid the instability of a possible recession, it’s important to understand what a recession is from a practical standpoint. Economists measure a recession after the fact, but small businesses feel it in real time as it unfolds. A recession is like a traffic jam where a few people start tapping on the brakes, and the next thing you know, everything slows to a crawl. From the perspective of an entrepreneur working to drive sales, any economic downturn is defined by fear and uncertainty that paralyzes decision makers. You know it when buyers start tapping on the brakes, and deals get stuck in the pipeline. To avoid being affected by what some are predicting will be a potential recession , entrepreneurs must work harder and smarter. Here are three things you can do. 1. Understand the mindset of your ideal client. It used to puzzle me that some of the most successful companies were born during times of economic crisis. Now I […]

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getty Customer service is one of the most critical functions of any company. In short, when you go above and beyond for your customers and treat them as people and not just a number, it shows. Moreover, it goes far to differentiate you from your competition. Unfortunately, it’s not tough to find or experience instances of poor customer service . Since I started the first of my portfolio of companies, I’ve insisted my teams focus on exceptional customer service and support—and it has paid dividends for us. During the pandemic in 2020, I worried for many nights if we would survive the loss of business. But my team and I stayed the course and called on our customers to check in during a time of immense stress. Ultimately, we not only survived but thrived . Viewing every customer as the core of our business is a value for my organization’s suite of companies. Further, it’s a strategic decision we made long ago and is always part of our executive meetings and discussions. After all, if your customer support doesn’t work well or consistently enough, they won’t keep coming back to you. The good news is that creating a customer […]

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getty New technologies are changing the business world at breakneck speed. However, none are expected to make a greater impact than artificial intelligence (AI). Most people would agree that we’re approaching a future where intelligent computers complete complex work processes and drive strategic business decisions. That future may be closer than you might think. The watershed moment for AI will be when the technology reaches what is known as "the singularity," or the point where AI becomes smarter than humans. Some technology leaders like Ray Kurzweil, the director of engineering at Google, have predicted reaching the singularity by 2045 . Others have made the even bolder claim that this milestone could be reached in as little as seven years from now . Whichever the case, it’s clear that there is no stopping the future of AI. Leaders need to figure out the best ways to embrace AI technology and pivot their business models today. The good news is that you don’t have to be a technology firm to start leveraging AI. As I wrote about recently , there are several great AI tools and technologies that even small businesses can deploy to give them a competitive edge and prepare […]

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Expands restructuring and financial consulting services; Increases cross-border opportunities LOS ANGELES and TORONTO, Feb. 22, 2023 /PRNewswire/ — B. Riley Financial, Inc. (Nasdaq: RILY ) ("B. Riley"), a diversified financial services platform, today announced that it has acquired the corporate division of Farber Group (‘Farber") , a Toronto-based restructuring and business advisory firm. Continue Reading B. Riley has acquired the corporate division of Farber Group, a Toronto-based restructuring and business advisory firm. Tweet this Farber logo Farber provides corporate restructuring and related advisory services, M&A corporate finance, wealth management, interim management and executive search, human capital advisory, organizational and talent development and related consulting services to corporate clients, entrepreneurs, law firms, lenders, private equity firms, regulators, and investors across Canada. In connection with the acquisition, Farber’s corporate division will become part of B. Riley Advisory Services . The acquisition adds 45 staff, including 16 experienced restructuring professionals, to B. Riley’s established restructuring and turnaround management practice. The Canadian practice will operate under the name B. Riley Farber . Farber’s consumer and tax divisions are not included in this transaction and will continue to service their clients in the normal course. Ian Ratner, co-CEO of B. Riley Advisory Services , […]

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Top producers share tips ahead of industry upswing While not the best scenario in which to be working, the housing market slowdown has yielded one benefit – time for broker-owners to contemplate how to budget and plan for growth once the climate improves. Prominent industry practitioners shared their insights during last month’s Hall of AIME conference staged in Naples, Fla., designed to showcase top producers. Tactics for growth emerged during one panel discussion on how to recession-proof one’s business, which was moderated by Tom Ahles (pictured top), president of growth at AIME. How do you scale a business for growth? “Looking ahead 12 to 18 months, how are you budgeting for or planning to scale from a cost perspective?” Ahles asked the panelists. Jonathon Haddad (pictured immediately below) president of Next Door Lending, chose to answer with an anecdote illustrating the need to have the best people on one’s team. He related the story of a colleague who had begun to see growth — $120,000 one year alone, he said. Gaining industry attention, the broker began to be approached from all sides with offers from people promising to increase profit even more exponentially. Do I need an administrative assistant? […]

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