In Case You Missed It: Ten Important Small Business Headlines
The year may be winding down, but small-business headlines are buzzing with news of increased small-business optimism, changes in federal regulations, and reports of improved holiday sales over last year's receipts.
Here's our roundup of timely small-business topics for your consideration.
1. Optimism Soars among Small-Business Owners
The National Federation of Independent Business (NFIB) reports its Small Business Optimism Index jumped 8.0 points to 101.7 in November, its highest level since June 2021. As also reported by the NFIB, small-business owners are the most confident they've been about expanding their businesses since 2021. (NFIB; U.S. Chamber of Commerce)
2. Retailers Welcome a Boost in Holiday Spending
Holiday receipts will increase between 2.5 percent and 3.5 percent over last year's numbers, says the National Retail Federation. Likewise, online shopping is expected to increase, with Adobe Digital Insights predicting an 8.4% increase online this season over last year's numbers. (Associated Press)
3. Business Owners Cheer Corporate Transparency Act Suspension – Here's Why
A regulation instituted by the Financial Crimes Enforcement Network (FinCen) has been struck down — at least temporarily — by a federal judge in Texas. Introduced to discourage money launderers and other criminals from using corporations as a shield, the CTA has faced criticism over its disregard for business owners' privacy. Learn more about the CTA in this primer from the U.S. Chamber of Commerce. (Inc.)
4. FTC Takes Aim at Unfair Distributor Pricing
The nation's largest alcohol distributor has been charged with charging small businesses exorbitant prices for its goods, while offering Kroger, Costco, and other behemoths deep discounts. The agency is using, as its grounds for suit, a little-enforced 1936 trade act. (The New York Times)
5. Ransomware Attacks Hit Small Businesses Hard
Researchers claim that as many as eight out of ten ransomware attacks — in which a business's data is held hostage, pending a demanded amount of money — target small businesses. A 158-year-old UK firm discovered this hardship when a Russia hacker sabotaged the firm's computer network. Also be sure to read this Tech Target advisory on how to guard against such attacks. (Insurance Journal)
6. Retailers Face Cashless Sales with Costly Consequences
In 2023, businesses paid $172 billion in processing fees to transaction-processing services — a 48 percent increase over pre-pandemic payouts. Find out what's behind these increases and what's being done to reduce them. (The New York Times)
7. Defeat of New Federal Overtime Regulation Met with Relief
On Nov. 15, a federal judge in Texas blocked a new Federal regulation that would have extended overtime benefits to a wider range of employees. Though most workers paid hourly are entitled to overtime pay, the regulation would have expanded overtime eligibility to more salaried workers. (U.S. News & World Report)
8. The Growing Need for Succession Planning
Research shows that more than half of the nation's small business owners are 55 years old or older — which means a lot of these leaders may be passing along their firms in the coming decade. Here's how to prepare for your own happy exit. (Associated Press)
9. How to Future Proof Your Business Tech for 2025 — and beyond
Are you awestruck by AI? Lost on LinkedIn? Fumbling your way through commerce platforms? In this video, you'll learn from a tech pro about how to harness these and other hot technologies. (U.S. Chamber of Commerce)
10. The Top 50 Undergraduate Programs for Entrepreneurs in 2025
The Princeton Review and Entrepreneur magazine have put their heads together to rank the nation's top 50 undergraduate entrepreneur programs. Did your alma mater make the list? (Entrepreneur)
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