Market Watch

Legislators and local dignitaries typically account for the bulk of the attendees at a State of the State address. But the broad message and specific policy vision shared during this annual speech is intended to have the biggest impact on normal Michiganders. So we reached out to a few Michigan residents who potentially have the most at stake in terms of some of the governor’s policy proposals and broader ideas outlined in her fifth State of the State address this week. Aubrey Greenfield, Allison Beers and Cathy Moore watched Whitmer’s speech and provided their thoughts on her words. All agreed the governor can be a dynamic speaker, but they did share some criticism on what she proposed during the speech. Their responses have been edited for length and clarity. More: Buttressed by Democratic majorities, Whitmer lays out vision in State of the State speech Aubrey Greenfield Greenfield, 17, is a senior at Oxford High School. She was a sophomore at the school in 2021, when a fellow student killed four students while injuring six peers and a teacher in a mass shooting. Freep: What did you think of the governor’s speech? Did you think it was inspirational and moving, […]

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Chief Technology Officer at Tangoe , responsible for the global corporate technology strategy and research and development (R&D). getty It seems that just as we learn about a new business trend, another one follows quickly, nipping at its heels. Take, for example, the “ Great Resignation ,” discovered when the Bureau of Labor Statistics reported in January that a record 4.5 million Americans quit their jobs in November 2021. This was a phenomenon that we had not seen before, a societal symptom of the Covid-19 pandemic, which led more people to reevaluate what they want from their jobs and their lifestyles. This led to the Great Renegotiation , where employees felt empowered to leave existing roles for higher-paying jobs or leave traditional roles for nontraditional ones. In July, McKinsey & Company reported, “For certain categories of workers, the barriers to switching employers have dropped dramatically. In the United States alone, there were 11.3 million open jobs at the end of May—up substantially from 9.3 million open jobs in April 2021. Even as employers scramble to fill these positions, the voluntary quit rate is 25% higher than pre-pandemic levels.” Cue Quiet Quitting . As reported by CNBC in September, “Now, […]

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getty Digital transformation is indispensable for businesses that intend to remain relevant in the near future. Given the prevailing macroeconomic conditions, businesses will likely continue facing unique challenges and opportunities to evolve in 2023. Amidst inflation, geopolitical tensions and economic uncertainty, they can expect to tackle issues on multiple fronts, including the supply chain, increasing customer expectations and sustainability, to name a few. The fact that digital transformation will help businesses maintain their competitive edge and sustained revenue models is not debatable. What they need to prioritize stepping into 2023 is focusing on digital technologies to build speed, innovation and agility across functions. Time is of the essence, and as customer demands change rapidly, so must the ability to drive growth and navigate the disruption. Having said that, digital transformation is about more than just technology—it’s about the shift in mindset that enables organizations to reimagine their business models and processes to take advantage of the opportunities created by emerging technologies. A strategic approach to digital transformation is, therefore, key. While every business has specific needs and every journey to a digital future is unique, certain aspects of digital transformation are likely to see more traction in 2023. Composability […]

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Xan Myburgh is the CEO + Co-Founder of Backd Business Funding , a leading alternative financing solution. getty Technology has changed how we function. It has rapidly expanded the nature of how we connect and work together globally. Businesses and business financing aren’t the exceptions to this. Financial technology has changed the way small- to medium-sized businesses access capital that, before now, they traditionally had less access to, opening doors for these businesses to further grow. Fintech’s influence will continue to ripple in the finance world as technology advances, but here are four key impacts our industry has had so far. Providing More Access To Capital The stringent and often rigorous requirements traditional lenders have can unintentionally close the door on business owners seeking to expand via a business loan. The terms entrepreneurs are often offered can make accessing the capital they need to grow a more arduous task than it really needs to be. The existence of so many digital lenders levels the playing field giving small-business owners more access to capital. Making Bill Pay Easier Long gone are the days of hardcopy bills and daunting stacks that need sorting through to ensure business owners stay on top […]

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BBE Certification and Scorecard to be Piloted in Historic Black Towns, and Cities with Black Mayors, Then on National Scale, to Address the Fact That: Less than 1% of nation’s 3.2 million Black-owned businesses are certified as minority-owned The vast wealth gap between Black and White communities not changed since 1968 More than 1,100 pledges totaling $200 Billion to Black equity in 2020 are mostly unfulfilled ORLANDO, Fla., Jan. 27, 2023 /PRNewswire/ — The National Alliance for Black Business (NABB), co-founded by the National Business League (NBL) and National Black Chamber of Commerce (NBCC), in partnership with the World Conference of Mayors (WCM) and the Historic Black Towns and Settlements Alliance (HBTSA) today announced the nation’s first-ever Black Business Enterprise (BBE) certification and scorecard program at the WCM Black Business Breakfast and Press Conference presented by Comerica Bank. Continue Reading The landmark BBE certification and scorecard program, designed and trademarked by the NBL, will certify businesses that are at least 51% Black-owned to be eligible for mainstream public, private, and philanthropic contracting and procurement opportunities. 59 years after the 1964 Civil Rights Act, less than 1% of the nation’s 3.2 million Black-owned businesses are certified. Tweet this The BBE […]

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Alicia Anderson Submitted photo BROOKFIELD — Alicia Anderson has been promoted to vice president – Treasury Management at First Business Bank. Anderson has helped First Business Bank’s local business and nonprofit clients in the Southeastern Wisconsin market for more than eight years. She holds more than 20 years of financial services experience and works to achieve a comprehensive understanding of each company’s cash flow cycle, receivables collection, payables process and how they can reduce the risk of fraud, according to a statement. Anderson received a Bachelor of Arts degree from the University of Wisconsin-Milwaukee and has a General Banking & Small Business Banking diploma from the American Institute of Banking. She is a graduate of Leadership Waukesha County. In addition, Anderson is immediate past president of Women for Midwest Athletes Against Childhood Cancer (MACC), director of the MACC Fund and treasurer of Our Next Generation (ONG). She is also the ambassador for the United Performing Arts Fund (UPAF) and the Vince Lombardi Cancer Foundation.

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Photo: ©JETCITYIMAGE – STOCK.ADOBE.COM CHICAGO — Key strategic accomplishments across the business, particularly the company’s progress on productivity and innovation objectives, lifted fiscal 2022 earnings and revenues at ADM, said company executives. Net income at ADM in the year ended Dec. 31, 2022, totaled $4.34 billion, equal to $7.71 per share on the common stock, up 60% from $2.71 billion, or $4.79 per share, in fiscal 2021. In the fourth quarter, earnings totaled $1.02 billion, or $1.84 per share, up 30% from $782 million, or $1.38 per share, in the same period a year ago. Revenues in fiscal 2022 increased 19% to $101.85 billion from $85.25 billion. The year-over-year increase was driven by a strong fourth quarter in which sales climbed 14% to $26.23 billion from $23.09 billion a year ago. “When I examine 2022, our ability to drive structural growth in earnings and improvement in ROIC was supported by key strategic accomplishments across the enterprise, particularly the progress we made on our productivity and innovation objectives,” Juan Luciano, president and chief executive officer, said during a Jan. 26 conference call with analysts. “Our productivity work in 2022 included enhancing our operational resilience, including through stabilizing our plant operations […]

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As a cofounder at Innowise Group with 20-year experience in IT, Pavel loves helping businesses grow through data analytics . getty Data analytics has become a common thing for both large-scale corporations and local businesses that want to succeed at designing and promoting their products. It can help perform the magic of defining the needs and wishes of a target audience, show the path to optimized production and distribution and much more. When used incorrectly, though, data analytics can lead to poor decision making based on wrong assumptions. Data analytics is a powerful tool, but there are several major mistakes businesses can make while using it that can lead to severe failures instead of overwhelming success. Here are nine things to watch out for while making data-based decisions. 1. Refusing To Create Data Lakes Data lakes are the type of storage used for keeping raw, totally unprocessed data. Keeping such information allows businesses to build precise and retrospective predictive models based on historical data. It also enables the use of the original data with new processing and analytical tools. Without raw data stored, businesses have to rely on third-party data brokers that may share unsuitable data or the needed […]

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Effective January 1, 2023, Veteran-Owned Small Business Concerns (VOSBs) and Service-Disabled Veteran-Owned Small Business Concerns (SDVOSBs) will be required to obtain Small Business Administration (SBA) certification to participate in any federal government agency VOSB or SDVOSB sole source or set-aside prime contracts. This change originated from a Final Rule (87 FR 73400) published by the SBA on November 29, 2022. As a result of this Final Rule, not only will VOSBs and SDVOSBs be required to re-visit, and in some cases re-apply for various certifications, but these new regulations will also impact joint ventures that rely on their member’s VOSB or SDVOSB status to bid public work. New Regulation Previously, a VOSB and SDVOSB could self-certify to perform set-aside and sole source projects on non-U.S. Department of Veteran Affairs (VA) procurements—a VOSB and SDVOSB only needed to be certified by the VA Center for Verification and Evaluation (CVE) when bidding on VA procurements contingent on its status. As of January 1, 2023, the requirement that VOSBs and SDVOSBs be certified will extend to all federal prime contracts, regardless of the overseeing agency. The Final Rule implements the 2021 National Defense Authorization Act (NDAA 2021), changing the certification process for […]

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When we have something to tell someone, invariably our first instinct is to reach for our mobile phone. Not to call – but to make contact in written form. An SMS, an email, a WhatsApp, a social media post. Everyone has their favourite and, in today’s ‘always-on’ omnichannel world, enterprises and brands for whom frictionless communication with customers is key must make every channel accessible. Smooth, slick interaction enhances the customer experience, deepens brand loyalty, and enables customer service representatives to deliver the best possible 24/7 support. Here, Sandro Stupar, Director of Product at leading provider of global omnichannel communications solutions Mitto – whose direct and wholesale offerings help do just that – details the top five benefits of business messaging… 1. Return on Investment According to our recent ‘State of the Customer Experience’ report, customer demand for digital communications are rising. Brands that take an omnichannel business messaging approach will meet these expectations while simultaneously driving revenue. Our report showed that brands that implemented unified omnichannel strategies were four times more likely to report extremely loyal customers, three times more likely to report a customer experience that deserves an “A”, and three times more likely to report a […]

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