Market Watch

The one-person business is on the rise in 19 countries, according to a new global report. Among 32 economies that were surveyed about this in the Global Entrepreneurship Monitor from 2019 to 2022, there was an uptick in 19 countries in the percentage of people who were starting or running a new business but did not expect to add anyone to payroll within five years. Leaders of this solopreneur trend, most prevalent in Europe but also taking place in other countries, were the Slovak Republic (up from 40% in 2019 to 71% in 2022), Germany (up from 41% to 69%) and Oman (up from 48% to 71%) However, the rate of solopreneurship declined in 13 countries, with the biggest dips in Poland (from 40% in 2019 to 15% in 2022), Brazil (54% to 31%) and the Republic of Korea (38% to 20%). That isn’t necessarily a negative trend: It may be because entrepreneurs in these countries plan to hire employees. Aileen Ionescu-Somers, executive director of GEM, which documents the growth of entrepreneurship … [+] GEM The Global Entrepreneurship Monitor, now it its 24 th year, offers perhaps the world’s most sweeping view of entrepreneurship, surveying 51 economies that represent […]

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Jacobs Jewelers, Beach Road Fish House & Chicken Dinners and Cotten’s Bar-B-Que expect to shut their doors as owners retire or property is sold. Cotten’s Bar-B-Que, Jacobs Jewelers and Beach Road Fish House & Chicken Dinners are closing their doors. As of Feb. 28, more than 275 years of entrepreneurship ends in Jacksonville, although one operator expects a few more days and another hopes to reopen elsewhere. Three businesses are slated to close this week: Jacobs Jewelers, tracing back its roots 156 years; Beach Road Fish House & Chicken Dinners, which began as Beach Road Chicken Dinners 84 years ago; and Cotten’s Bar-B-Que, 36 years in business in Arlington. Two – Jacobs and Cotten’s – are closing as their owners retire. Beach Road Fish House owners are selling the property, as are the Cottens. Jacobs leases Downtown space that has been sold, but expects to stay open a few more days. Beach Road hopes to reopen, but has not announced where. All indicated Feb. 28 as their last day in business where they have operated for decades. Cotten’s Bar-B-Que Cotten’s Bar-B-Que owners and spouses Yvonne and Fred Cotten Jr. posted this image on their restaurant’s Facebook page. Bar-B-Que at […]

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Noah (l.) and Ari Meyerowitz with their Sproutman products. Photo courtesy of Sproutman Sproutman launches new product line tomorrow Great Barrington— Ari and Noah Meyerowitz, principals of Sproutman based in Great Barrington, have announced the introduction of Superfood Sprout Powders, which they plan to bring to market on Tuesday, February 28. Three innovative sprout powder blends are infused with thoughtfully selected superfoods and research-backed adaptogens, specially formulated to be added to plant-based lattes, smoothies, water and even foods like oatmeal. These benefit-based powders—Blue Glow, Green Fuel, and Chai Balance—represent a delicious and easy way for people to discover and enjoy the benefits of sprouts Building on the original grassroots business started by their father, they have developed a web-based enterprise that offers at-home sprouting kits and helpful resources so anyone, anywhere can grow their own organic sprouts. With sustainability at their core, they also strive to lovingly ship all their “good for you” products in a way that’s light on the planet. Sproutman, a second-generation small family business, is committed to changing the world—with spouts. Because research shows that one in six Americans struggle with food insecurity or live in a “food desert” (a place with limited access to […]

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A banking leader shares 5 benefits of this underutilized tool. Inflation has sent business expenses soaring. Rising operating costs have impacted spending power. Revenue and profits get hurt, too. Better cash management strategies can help. One underutilized tool is a business credit card. It can help manage cash flow, simplify payments and earn rewards while also adding to the bottom line. With 147 locations in the Chicago area, U.S. Bank offers business clients a flexible, customized credit card program as part of its integrated banking and payments offering. Here are five benefits to consider. 1. Create better cash flow. Think about the different ways business expenses can be paid. Often, business owners make payments with checks, debit cards, wire transfers or ACH transactions. A business credit card can free up more cash for the business and create extra purchasing power, according to M.J. Hasso, business card sales manager at U.S. Bank. When a business pays a vendor by check or via money transfer, the funds leave the company’s accounts right away, she explains. A business credit card provides flexibility and allows the company to increase their cash flow. "Business credit cards can add tremendous value to the operating cycle," […]

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Essar Group plans to spend as much as $3.6 billion on low-carbon hydrogen production in the UK and India, as well as decarbonization work at its refinery in northwest England, pending government support. The company’s first step would be a $1.2 billion investment in Britain to produce hydrogen from natural gas with carbon capture and storage, according to Prashant Ruia, director of Essar Capital. A final investment decision is expected later this year, he said by phone. Essar is seeking to capitalize on efforts by British industries to cut emissions as the UK strives to reach net zero by the middle of the century. The company’s Stanlow refinery is connected to the Hynet project, one of two industrial clusters selected by the government to get funding to capture CO2 emissions and transport them for permanent storage below the seabed. The UK aims to capture 20-30 million metric tons of carbon a year by the early 2030s. Ruia said he expects the UK to finalize a market framework later this year, which would allow the company to make a firm commitment so that its first project can be operational by 2027. The hydrogen produced by Essar would be used at […]

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Dialexa, an IBM Company, creates digital products that help companies transform their industries. After years of explosive growth, big global tech companies are downsizing. But digital product engineering firm Dialexa , an IBM Company, is on a trajectory for growth and expanding its footprint in Chicago. Dialexa was launched 13 years ago in Dallas by two former product engineering executives. It opened a Chicago office last year. Today, Dialexa has a highly skilled team of 320 product managers, strategists, designers, engineers, and data scientists. In the midst of its rapid expansion, Dialexa was acquired last September by IBM to scale their digital product engineering services for IBM Consulting clients, a market expected to reach $700 billion by 2026. What explains Dialexa’s success? The product mindset and approach. "We want every organization to be a great tech organization," said Jonathan Williams, partner and Chicago market lead at Dialexa. All industries leverage technology to become more efficient and profitable, he explained. "We work with our clients to fill in the gaps to get them to that place." While companies recognize the importance of technology, the right digital solution can be a real differentiator in a competitive business environment. A customized digital […]

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Like most great ventures, the Engler Agribusiness Entrepreneurship Program started with an idea, took root and grew. Now, its branches touch every corner of Nebraska. In 2010, cattleman, entrepreneur and Husker alum Paul Engler made a $20 million gift to the University of Nebraska–Lincoln to cultivate future generations of entrepreneurs and problem-solvers with an aim on growing and sustaining rural communities. Within two years the program was up and running and Tom Field was tapped as director. Just over a decade later, the program’s impact has been extraordinary. At the end of 2022, there were 344 on the alumni rolls. Nebraska has gained at least 70 new businesses, adding 123 jobs. These businesses reported $147 million in lifetime revenue, including $37 million in the last year alone. Katie Black | University Communication and Marketing Those successes include a number of growing Engler alumni-owned companies scattered throughout Nebraska — Sehnert’s Bakery in McCook, Stahla Services in Lincoln, My Ellement in Central City, Treadway Ag in Ashland, Oak Barn Beef in West Point, Pioneer Equipment in Hastings. “We’ve attracted kids from around the country and world, but we have 230 alumni living and working in Nebraska,” Field said. “Most of the […]

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It is not a secret that over the past decade, hundreds of large U.S. corporations have adopted woke policies, regularly injecting left-wing ideals into their products, services and employment practices. But some of these businesses have recently gone much further than merely promoting social justice causes; they have chosen to target conservative customers and employees, coercing or forcing Americans to abandon their deeply held beliefs in order to receive important goods or services or to stay employed. Although many conservatives have heard stories about corporate discrimination in recent years, they have often struggled to keep track of which businesses have been part of this movement, and which have largely stayed on the sidelines. A new project launched by the 1792 Exchange, a nonprofit organization, seeks to shed light on this important problem. The 1792 Exchange recently launched its Spotlight Report, which assesses more than 1,000 companies’ "policies, practices, and other relevant criteria to determine the likelihood a company will cancel a contract or client, or boycott, divest, or deny services based on views or beliefs." HOUSE GOP VOTES NEXT WEEK TO KILL BIDEN’S ‘WOKE’ ESG INVESTING RULE The 1792 Exchange team then used those assessments to assign businesses to […]

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Image licensed via Adobe Stock As the year starts to get into its stride, get a jolt of inspiration and fresh ideas to drive your business forward. These great books will soon have your motivation returning and your mind racing! 27 February 2023 Phew. Finally, the days are getting longer, and winter is coming to an end. We’re all starting to thaw out, feel the sun on our faces, and worry about the energy bills a little less. In short, Spring is almost here, and with it comes a feeling of renewal. In this light, many of us are feeling the urge to declutter and refresh various areas of our lives. And this seasonal shift can be especially motivating for entrepreneurs and small business owners who’ve made it through a tough period and have lived to fight another day. To help you out, we’ve spotted several fantastic books that can help supercharge your creative business in 2023. From tips on staying sharp and focused to advice on effective decision-making and positive change, these tomes offer a wealth of insights and inspiration. Here are six of our most highly recommended titles to consider adding to your reading list this Spring. […]

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A photo from last year’s CDA graduation. Photo by Quisha Ray Photography. LEXINGTON, Ky. (Feb. 27, 2023) — As part of the University of Kentucky’s plan to progress the institution toward diversity, equity and inclusion, the university created the "Expand Supplier Diversity Purchasing Program" initiative in 2020. Led by Barry Swanson, UK’s chief procurement officer, the initiative sought to expand UK’s supplier diversity procurement efforts. This led to the hiring of Marilyn Clark , who began her work as UK’s first supplier diversity manager in 2021. However, the nationwide history of supplier diversity began much earlier. “Minority business development was born out of the civil rights movement," Clark said. "On March 5, 1969, less than one year after Dr. King’s assassination, President Richard Nixon, signed Executive Order 11458, creating the Office of Minority Business Enterprise. This executive order created a federal agency focused on minority business development and opened the doors for Black and brown business owners to have access to government contracts. This agency is now known as the Minority Business Development Agency. After more than 50 years, this agency was recently codified as a permanent federal agency.” This focus on minority business development paved the way to […]

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