As Amazon and other big businesses ramp up efforts to reduce their carbon footprint, they're putting pressure on their suppliers to do the same, and those who don't may pay a big price. Starting in 2024, Amazon will require suppliers to share their emissions data, set emissions goals, and report on their progress, the e-commerce
McDonald's decision to raise royalty fees for the first time in nearly three decades doesn't mean a wave of franchisees across corporate brands are about to see their cost of doing business go up, but it does underscore the need for business owners to keep up with changes in the franchise business model. The economics
The IRS has announced a special withdrawal process for small businesses that wrongly claimed a pandemic-era tax break — and experts have tips for those who may be affected. The agency paused processing new claims for the employee retention credit, or ERC, in September following a surge of questionable filings. Worth thousands per eligible employee
The Small Business Administration's federal contracting program for socially and economically disadvantaged small businesses wasn't a direct target of the U.S. Supreme Court decision earlier this year to effectively end race-conscious admission programs at colleges and universities. But it helped buoy the legal attacks against the SBA program, and more changes could be on the way
"We urge employee retention credit recipients who think they were misled by promoters to review these special programs, including either the disclosure program or the withdrawal option, depending on their situation," Werfel said. The new program comes roughly two weeks after the IRS announced it's sending more than 20,000 ERC rejection letters to taxpayers as
President Joe Biden is flaunting his investments in Black- and Latino-owned small businesses as the Latino vote slips from his grasp heading into the 2024 election year. The president on Wednesday highlighted the parts of his Investing in America agenda aimed at supporting small businesses at Wisconsin's Black Chamber of Commerce in Milwaukee. His remarks
It wasn't too long ago that women who needed business capital didn't struggle to access it — they simply couldn't get it, at least not without a male relative to co-sign on a loan. There's been considerable progress since 1988 when that law was changed, but the gender gap in access to capital is persistent
The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. The government program, seemingly flush with cash, led to the emergence of an industry of its own, which focused on helping businesses claim the credits. Suddenly, a parade of ads encouraging businesses to
Small business bankruptcies are on the rise. Subchapter V filings — which most small businesses these days are using to reorganize a floundering business — have outpaced filings from 2022. There were 1,659 Subchapter V filings through October, compared with 1,553 for the full year earlier, according to the American Bankruptcy Institute. It's become easier
In many respects, conditions are good for U.S. small businesses. Inflation, from the cost of goods to wage growth in the labor market, are coming down. And the economy is growing like gangbusters, with the most recent GDP reading outperforming expectations, a fact that the Federal Reserve noted in its FOMC meeting statement on Wednesday
