Market Watch

Tucker Matheson is a co-founder and Managing Partner at Markacy , a digital marketing strategy firm headquartered in New York City. getty It’s hard to get through a business day without hearing poor economic news and forecasts of rising inflation, interest rates, energy costs and an impending recession in 2023. According to a 2022 McKinsey & Company survey , consumers are feeling twice as pessimistic about the economy as they’ve been throughout the pandemic. In response, many brands are evaluating what this change in consumer sentiment will mean for their business models, revenue and overall growth strategies. However, is planning for another Great Recession the best strategy based on history? According to historical economic data , if you only consider the post-World War II period, the average U.S. recession has only lasted about 10 months. With that in mind, brands that have sound business models should view tough times as an opportunity to come out stronger than before. One area I think all brands should be focused on in 2023 is customer retention. New customer acquisition often requires more capital investment and resources than getting an existing customer to make repeat purchases. One study found that loyal customers account […]

Click here to view original web page at www.forbes.com

getty With 2023 just beginning, business leaders are reevaluating the critical priorities and strategies that will drive success in the next twelve months and beyond. Faced with several looming factors that threaten to derail operations—including labor shortages , inflation and economic uncertainty—business leaders will need to remain diligent about focusing on their organizations’ missions, refining current strengths and identifying ways to fortify weak points. Throughout this process, I believe leaders will need to prioritize innovation in the form of digital transformation to remain at the cutting edge and continue delivering value to customers, partners and employees. This year, we should continue to see organizations use technology for increased productivity, seamless information sharing, improved customer satisfaction and more. From modernizing technology to reach new audiences to developing processes for increased resiliency, we need to remain focused on the strategies that will continue to elevate our organizations in 2023 and beyond. Digital tools can expand reach and unlock new opportunities. The adoption of emerging digitization and online tools can help businesses expand their reach and access previously untapped audiences. There are several avenues through which technology can reach new individuals. Take recruitment, for example. Digital advancement can be used as a […]

Click here to view original web page at www.forbes.com

According to NFIB’s monthly jobs report , 57 percent of owners reported hiring or trying to hire in January, up two points. Of those hiring or trying to hire, 91 percent of owners reported few or no qualified applicants for the positions they were trying to fill. Twenty-seven percent of owners reported few qualified applicants for their open positions and 25 percent reported none. “The labor shortage continues to be a major concern for small businesses in the New Year as nearly all owners trying to hire are reporting no or few qualified applicants,” said NFIB Chief Economist Bill Dunkelberg. “Small businesses’ sales opportunities are limited because of the staffing shortage but owners continue to make changes in business operations to compensate.” State-specific data is not available, but NFIB State Director Rosemary Elebash said: “The Alabama unemployment rate remains at record lows with the December rate at 2.8 percent. Hiring employees across all business entities remains a challenge for business owners. The lingering problem is the Alabama labor force participation rate of 56.8 percent, well below the national average of 62 percent. Forty-three percent of Alabamians ages 16-64 are not participating in the Alabama labor force. Our members are […]

Click here to view original web page at www.alreporter.com

Illustration: Annelise Capossela/Axios � Capitol Pulse is a weekly feature to catch up quick on what’s happening at the Legislature. Gov. Jared Polis had lunch with business leaders in late January and heard an earful — mostly about where he’s failing. The pre-recorded video that played over the sound of forks clanking against plates featured business leaders bemoaning the lack of skilled workers in the state, breakdowns in the education system and a regulatory environment that "chills investment and … hiring." State of play: This legislative session, the business community feels like it’s the red meat on Democratic leaders’ plate. Polis made an unusually direct attack on hospitals in his State of the State address, blaming them for the cost of health care. The opening salvo of legislation from the majority party this session would impose a host of new regulations , such as requirements on employers regarding worker schedules , hiring and benefits, as well as price caps on prescriptions and rent . What they’re saying: The Democratic agenda runs counter to the promises from Polis and legislative leaders to make life more affordable and improve the economy, business leaders say. The new regulations would lead to higher […]

Click here to view original web page at www.axios.com

AMC Entertainment Holdings Inc., the first operator to enter Saudi Arabia after it lifted a ban on movie theaters, has sold its stake in the venture for $30 million but will continue to license its AMC Cinemas name in the kingdom for current and future locations. The Leawood-based company (NYSE: AMC), the world’s largest theater operator, entered Saudi Arabia in 2018 , ending the nation’s 35-year ban on cinemas with a showing of “Black Panther.” At the time, AMC planned to operate as many as 40 theaters in five years. However, AMC eventually opened just 12 more locations, after wrangling the pandemic and increasingly stiffer competition. Saudi operator muvi Cinemas now leads the market, and Dubai-based subsidiary Vox Cinemas also is a big player, The Associated Press reports . AMC CEO Adam Aron said in a release that the company always planned to exit Saudi Arabia . Upon entering, it had two goals, he said: “bring moviegoing to the Saudi people” and train management and corporate teams so that they eventually could operate the enterprise themselves. But Aron was quick to point out that AMC didn’t leave empty-handed. The $30 million will boost the company’s cash holdings as it […]

Click here to view original web page at www.bizjournals.com

Fresh off making its first investment in a registered investment adviser, Dallas-based Slate Hill Partners has big plans to continue growing in the wealth management arena. Slate Hill Partners, a single-family-office-backed holding company that has focused on supporting niche investment managers and building out exchange-traded funds, recently took a minority stake in Dallas-based XO Wealth Management. Joe Valdman , managing partner of SHP, said he sees the deal as the just beginning. "We’d like to be able to grow with other acquisitions and try to get this firm to $3.5 billion to $4 billion in the next 3-4 years," Valdman said. XO has $631 million in assets under management as of Dec. 31, 2021, according to the firm’s most recent filing with the U.S. Securities and Exchange Commission. The firm declined to provide a more recent number until it files its next annual report in the coming weeks. Valdman also declined to disclose SHP’s overall assets. To accomplish Valdman’s goal, SHP would need to grow the wealth management business by more than five-and-a-half times. SHP can achieve that growth because of the health of the Dallas-Fort Worth market and the ongoing trend of consolidation among RIAs, Valdman said. Texas […]

Click here to view original web page at www.bizjournals.com

getty Each of us has the power to make a positive impact on the lives of others. When I was learning about value-creation strategies at the beginning of my postgraduate studies, I found myself thinking about how every interaction—be it with colleagues, family, mentors or even members within our wider community—is a value-creation exercise. But what is value creation? The concept in business 101 is simple: It’s a process that turns resources into something that meets the needs of others. Amazingly, I was lucky enough to not only learn about this concept in theory but could also witness it in practice from some of my mentors. My father was the first person in my life who projected an air of inspiration that I quickly picked up on. He inspired me to think big and help others do the same along the way. I also met someone early on in my career who was the embodiment of a value creator; my mentor, James D. Walton, always seemed to find a way to make a lasting impact by practicing what he preached. In his 25 years of building high-performing teams, James always said the key to his success was twofold. First, […]

Click here to view original web page at www.forbes.com

Small businesses have been throttled by the pandemic, supply-chain glitches, labor shortages and inflation, yet the category as a whole has shown a resilience that makes it ripe for new financial services. "We’ve noticed more small businesses getting formed, and they’re looking for a way to manage their business in a single location," said Gina Taylor, executive vice president and general manager of business blueprint and banking for American Express. The number of small businesses in the U.S. reached 33.2 million in 2022, according to the Small Business Administration . That’s up from 32.5 million in 2021, 31.7 million in 2020 and 30.7 million in 2019. Small businesses also do most of the hiring. Eighty percent of the 10.3 million job openings in the U.S. at the end of 2022 were at businesses with fewer than 250 employees, according to the U.S. Bureau of Labor Statistics . There are 3 million more job openings at small businesses today than before the pandemic, versus 250,000 more at large companies. Demand has been rising constantly among business owners over the last few years to be able to meet their customers where they want to make purchases, which means accepting card payments […]

Click here to view original web page at www.americanbanker.com

Firm announces strategic sale of title insurance business to boost offerings Finance of America Companies (FOA) has agreed to sell the title insurance businesses of Incenter, its indirect subsidiary, to mortgage insurer Essent Group. According to an 8-K filing, Essent Group will buy issued and outstanding shares of Agents National Title Holding Company (ANTIC) and the issued and outstanding membership interest of Boston National Holding (BNT) for $100 million. FOA interim CEO Graham Fleming issued a statement regarding the move, emphasizing FOA’s long-term growth initiatives that are in line with the company’s vision to expand its reach and impact. “FOA’s strategic direction and long-term growth initiatives are centered on providing an innovative suite of solutions to help Americans achieve their retirement goals through the use of their home equity,” Fleming said. “This transformation has included the decision to discontinue the operations of our forward mortgage originations segment and expand on this vision through our announcement to acquire the assets of AAG. Today’s transaction is part of our continued execution of this strategy which is supported by some of the industry’s most powerful macro themes.” FOA exited the retail and wholesale channels in 2022, closing its financially troubled mortgage origination […]

Click here to view original web page at www.mpamag.com

Business Activity Index at 60.4%; New Orders Index at 60.4%; Employment Index at 50%; Supplier Deliveries Index at 50% This report reflects the recently completed annual adjustments to the seasonal factors used to calculate the indexes. TEMPE, Ariz., Feb. 3, 2023 /PRNewswire/ — Economic activity in the services sector grew in January after contracting in December following 30 consecutive months of growth, with the Services PMI ® registering 55.2 percent, say the nation’s purchasing and supply executives in the latest Services ISM ® Report On Business ® . The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management ® (ISM ® ) Services Business Survey Committee: "In January, the Services PMI ® registered 55.2 percent, 6 percentage points higher than December’s seasonally adjusted reading of 49.2 percent. The composite index grew in January after contracting in December for the first time since May 2020, when it registered 45.4 percent (seasonally adjusted). The Business Activity Index registered 60.4 percent, a 6.9-percentage point increase compared to the seasonally adjusted reading of 53.5 percent in December. The New Orders Index grew in January after contracting in December for the first time since May […]

Click here to view original web page at www.prnewswire.com