Market Watch

It’s a tale as old as time. Nepotism in family businesses is a phenomenon that has been present for centuries, but it has recently gained more attention due to the increasing number of family businesses and the growing awareness of the negative effects of nepotism. Nepotism is the practice of favoring family members in business decisions and operations, often without giving priority to selecting the most qualified individuals. Two generations of owners inside their factory getty One of the main reasons nepotism is prevalent in family businesses is that the owners of the business are often emotionally invested in their family members and want to ensure their success. They may also believe that family members are more trustworthy and loyal than non-family members. However, this can lead to the exclusion of qualified and capable employees, which can negatively impact the business. Nepotism can also lead to a lack of accountability and poor decision-making, as family members may not feel the need to justify their actions or may not have the necessary skills or experience for the position. Another major issue with nepotism in family businesses is that it can lead to a lack of diversity and inclusivity within the […]

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Floods, storms, wildfires, and other natural catastrophes create countless exposures for businesses. For most, planning for when (rather than if) disasters strike is a must. But two key issues place organizations at more risk and increase the need for robust disaster risk management plans: remote working and physical expansions. “Employees are going to work from home for the foreseeable future,” said Dale Buckner (pictured), CEO of Global Guardian. “So, when it comes to planning for natural disasters and disruptive events such as earthquakes, hurricanes, tornadoes, tsunamis, and wildfires, I think the number one difference is that you now must account for people that you think are in North Carolina, but could be in Australia, the Caribbean, basically thousands of miles away.” Buckner also strongly advocates for business leaders to put disaster risk at the top of their criteria when planning to expand their physical footprint. As executives consider their expansion plans for office locations, plants, and warehouses, they need to be aware of the natural disaster risks of chosen locations and potentially reassess plans to avoid those risks altogether. How does remote work influence businesses’ disaster risk planning? Around 5.1 million Canadians were working from home as of May […]

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The Bank of Canada has raised borrowing costs by 4 percentage points since last March. Canadian business sentiment fell to its lowest since the Covid-19 pandemic in a central bank survey, while consumer expectations for short-term inflation held at a record high. Data released Monday by the Bank of Canada show the economy adjusting to high interest rates and heading to a period of weaker growth or even a mild recession. More businesses than usual expect their sales to decline, and consumers have reduced their spending plans. The central bank’s business outlook indicator fell to 0.07 in the fourth quarter, from a revised 1.74 previously. Firms said rising interest rates and high inflation are crimping their outlook for demand and plans to invest. About 70% expect the economy to enter a recession. Higher rates and inflation have also limited the ability of consumers to spend, the bank said in a separate survey. Most workers don’t expect their earnings to catch up with recent price pressures, and about half of households think they will be negatively affected by a potential recession. About half of consumers who expect a recession think it will be moderate in severity and length, while 90% […]

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To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video About the show DW’s Business News offers a global perspective of the most important economic events of the day in 13 minutes. Informative reports and up-to-date assessments by our correspondents guide our viewers through the constant flow of information. Compelling stories show the human being behind businesses and the economy. DW’s Top Story More stories from DW Africa Germany Go to homepage

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Special to USA TODAY There is an oft-quoted statistic in business that it costs six times more to create a new customer than it does to keep a current one. Why is that? Well, there is no doubt that getting new customers definitely takes time, effort, and money, and so, as such, long-time customers are, indeed, small business gold; they allow us to pay the bills, hire employees, and grow our businesses. They are how entrepreneurs keep the dream alive. And that then begs the question: How do you in fact create repeat, long-term customers? For, while a one-time customer is nice, it is that repeat customer who really makes the difference. Customers can choose any business to service their needs; they will only choose yours time and again if you offer them something above the ordinary. Here then are five ways to keep customers coming back for more: 1. Be great at what you do People hire you to do a service for them, or they go into your shop or online store to buy something from you. If your product or service is average, they may be back, they may become a regular, or they may not. […]

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Each year the Philadelphia Business Journal compiles a list of the region’s fastest-growing companies for our Soaring 76 publication. Nominations for this year’s program are now open, with updated parameters. Taking into consideration nearly three years of the Covid-19 pandemic and its effects on businesses and their bottom lines, we’ve adjusted our requirements for 2023. Companies still must have minimum revenue of $750,000 in the first year of the considered timeframe – in this case 2020 – but the second-year minimum revenue threshold is being waived. This updated structure broadens eligibility to the many companies that launched in the region over the past three years and takes into account the headwinds all businesses have faced. What hasn’t changed is the need for companies to have sustained revenue growth year over year. That means a company must have had greater revenue in 2021 than in 2020, and then continued that growth in 2022. To make the final list of Greater Philadelphia’s 76 fastest-growing companies, nominated firms will be ranked by their combined year-over-year revenue growth rate. We determine this figure by averaging the percent increase of growth from 2020 to 2021 and 2021 to 2022. That figure then determines if […]

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Creativity is an ongoing negotiation with yourself and the world. While making space in the daily hustle of running a business is difficult, finding small ways to tap into your creative mind can spark insights and innovations that broaden your business’s horizons. Opinions expressed by Entrepreneur contributors are their own. Creativity is a crucial aspect of running a successful business, as it allows for insights and innovations that can drive your company forward. While it may not always be easy to make time for creativity in the fast world of entrepreneurship, practical measures can help tap into your creativity and boost your business’s potential . As an entrepreneur, teacher and author who can’t wait for inspiration to strike, I always add new techniques to my toolbox to jumpstart my imagination. Here are a few techniques to try: 1. Brainstorm Brainstorming is a powerful tool for fostering creativity in business. This can involve jotting notes on napkins, indulging in streams of consciousness or using an app like Biograph to speak my mind, collect ideas over time and collaborate with trusted partners. Brainstorming allows you to generate abundant fresh material and make connections you might not have otherwise considered. It can […]

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By Rieva Lesonsky The future looks bright for small businesses, but 2023 will have challenges in store, too. getty Many small business owners expected 2022 to be a year of recovery after two years of struggling to survive a global pandemic. But inflation, fears of a recession, a still unreliable supply chain, and a nation at nearly full employment resulting in a tight job market all loomed large, dampening many of our goals. As we enter 2023, the outlook seems somewhat brighter for small business owners. I talked to several small business experts to get their advice, insights, and predictions for small businesses in the new year. Small business outlook for 2023 Impact of a recession on SMBs " Nobody knows whether a recession will occur, but it’s certainly fair to say that small businesses are dealing with several economic obstacles right now. Fortunately, small businesses are resilient. Even if a recession does develop, our 2022 Small Business Now report shows that 90% are confident that they will still be in business a year from now. We also often see lots of small businesses get started during recessions. "However, some sectors would likely be impacted more than others. The […]

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Signs display the prices of products in U.S. dollars outside a grocery store in Caracas, Venezuela, last year. The Edelman Trust Barometer survey shows that fewer people believe their family will be better off in five years. People worldwide are more gloomy about their economic prospects than ever before and trust business far more than other institutions like governments, nonprofits and the media in an increasingly divided world , according to a survey from public relations firm Edelman. Released late Sunday to coincide with the World Economic Forum’s gathering of business elites and government leaders this week in Davos, Switzerland, the online survey conducted in 28 countries shows that fewer people believe their family will be better off in five years. Those who believe they’ll be better off dropped to 40% from 50% last year and hit all-time lows in 24 nations. That is because 89% fear losing their job, 74% worry about inflation , 76% are concerned about climate change and 72% worry about nuclear war. The Edelman Trust Barometer also says 62% of respondents see business as both competent and ethical, compared with 59% for nongovernmental agencies, 51% for governments and 50% for the media. That was […]

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From the past 4 weeks, the index has been trading in the range of 17770 to 18200. The underlying tone of the market is sideways to negative as the index had formed a bearish engulfing pattern on the monthly chart which is a bearish reversal sign. On the lower side, the index has strong support at 17800 level as it is neckline of Inverted head and shoulder pattern and 100 EMA support on daily chart. With the Nifty trading in the range of 17,770 to 18,200 for the last four weeks, any downward reaction around 17,200 to 16,800 can be considered a good buy opportunity, says Kapil Shah, Technical Analyst at Emkay Global Financial Services. “Moving above 17,400 level, buyers will regain their strength,” he says. Edited excerpts from an interview: Nifty showed support at 17,600 level during the week but faced resistance above the 18,100 zone. Do you expect the coming week to be a sideways market? From the past 4 weeks, the index has been trading in the range of 17770 to 18200. The underlying tone of the market is sideways to negative as the index had formed a bearish engulfing pattern on the monthly chart which […]

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