After three precarious pandemic years, what transpires in 2023 will make a big difference in whether small businesses across the country are able to stay afloat.
A looming recession, still high inflation and labor woes are some of issues carrying over from 2022 that small businesses will have to tackle. There are also new regulatory wrinkles, such as a proposed change in how to classify gig workers and more states requiring pay transparency.
Given the economic uncertainty, small businesses will have to keep a tight rein on costs and run their operations as efficiently as possible, said Ray Keating, chief economist for the Small Business & Entrepreneurship Council. “We want the unemployment level to increase because if it does, wage growth will slow, and not only is there no evidence that’s happening, if anything wage growth is about to get rocket fuel this time of year when wages go up,” said David Lewis, CEO of HR firm Operations Inc., which advises small businesses.“I don’t see inflation dropping in any significant way … but I don’t see it going back up above that 8 percent level,” he said.
Keating, of the Small Business & Entrepreneurship Council, said one solution for small businesses in 2023 could be more extensive on the job training.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Global Recession Will Push Bitcoin Price to Remarkable Highs In 2023 — Bloomberg AnalystsBitcoin’s turbulent performance in 2022 hasn’t deterred big players from predicting a promising run for the asset in 2023.
Weiterlesen »
UK recession to limit 2023 growth in food retail sales to 5% -NielsenIQWeak confidence around personal finances and a squeeze on disposable income will hold back growth in food retail sales to around 5% in 2023, according to market researcher NielsenIQ.
Weiterlesen »
Goldman Sachs no longer expects recession in euro zone in 2023Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas prices and the reopening of China's borders.
Weiterlesen »
Small businesses to tackle long list of challenges in 2023NEW YORK (AP) — Small businesses face a mix of old and new challenges as 2023 begins. A looming recession, still high (although easing) inflation and labor woes are some of issues carrying over from 2022 that small businesses will have to tackle.
Weiterlesen »
To help survive a rocky 2023, these three value investors are favoring these six stocksOPINION: The Fed will overdo it in its inflation fight, creating a recession that will lead to a 20% decline in the S&P 500 from this already low level, sending the benchmark index down to 3,000 to 3,200 points.
Weiterlesen »
Arizona Defense and Industry Coalition has three chief targets for 2023 - Phoenix Business JournalThe Arizona Defense and Industry Coalition, or AZDIC, was first announced in November as a statewide effort to unify the players in the state and promote their interests in Congress. Here's what it hopes to accomplish this year.
Weiterlesen »