Small Business Labs

AUGUST 9, 2021

According to the American Enterprise Institute's (AEI) The age re-retirement: Retirees and the Gig Economy , 20% of retired Americans also work in the gig economy. The article lists the usual financial reasons for working in retirement.   But more interesting is their description of some of the non-financial reasons.  Key quote: Ninety-six percent of over-65 workers reported that an enjoyable job is essential or important to living a fulfilling life.

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Small Business Labs

JUNE 15, 2021

CB Insights is a technology analyst firm covering emerging technologies and tech startups.  They just released a creator economy market map , which is below (click to enlarge). CB Insights points out that digital content creators have had to cobble together various tools to build and monetize their activities.  This is quickly changing.  Key quote: " a slew of startups are looking to disrupt the way creators make content, develop their audiences, or grow their businesses be

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Small Business Labs

JUNE 14, 2021

Last year early in the recession, there was quite a debate about what shape the U.S. economy pandemic recovery would take. The two candidates that got the most support were a V-shaped recovery and a swoosh-shaped one. A V-shaped recovery indicated a steep, but very short recession with a quick and robust recovery. The swoosh-shaped recovery was named after the famous Nike logo.

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Small Business Labs

MAY 17, 2021

Over the past week, there's been a flurry of articles and social media posts on "geriatric millennials" This term refers to the oldest millennials, those born between 1980 and 1985.   One of the more popular articles is Today's Are you a 'geriatric millennial'? The new term defining a micro-generation.  Key quote: It's always been a bit confusing to figure out when Generation X ends and the millennial generation begins — and now a new cohort has emer

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Small Business Labs

MARCH 30, 2021

The U.S. Census has released new demographic data on nonemployer businesses.   Nonemployers are businesses that have an owner but don't have paid traditional full or part-time employees (W2 employees). The data comes from tax records, and you can think of nonemployers as solopreneur businesses (freelancers, independent contractors. gig workers, etc.).

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Small Business Labs

MARCH 18, 2021

After losing a U.K. Supreme Court case,  Uber this week announced it would be classifying its U.K. drivers as "workers."  This means Uber's 70,000 UK drivers will get a minimum hourly wage, holiday pay, pensions and other benefits.  Unlike the U.S., which has two worker legal classifications - self-employed and employee - the U.K. has three.   The "worker" classification is the 3rd, and "w orkers" get some, but not all, of the protections

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Small Business Labs

MARCH 8, 2021

Barlow Research is one of our go-to sources on all things related to small business use of financial services. Their article Five Truths about International Business in the Middle Market covers survey research on the exporting and importing by U.S. firms with between $10 million and $500 million in sales (midmarket companies). As shown in the Barlow chart below (click to enlarge), the key finding is that about one-third of firms in this size category conduct business internationally.

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Small Business Labs

FEBRUARY 16, 2021

A SPAC is a special purpose acquisition company.  A good description comes from CNBC's SPACs used to be a joke in Silicon Valley — now they’re going mainstream. Key quote: In a SPAC, a group of investors raise money for a shell company with no underlying business. The SPAC goes public, generally at $10 per share, and then starts hunting for a company to acquire.

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Yahoo 2019 Finance Forms 204

Small Business Labs

FEBRUARY 5, 2021

We haven't seen all the Super Bowl ads yet, but we know independent workers will be featured in two of them. Squarespace's ad (below) features Dolly Parton singing 5-9, a take off on her hit song and movie 9-5.  It shows a variety of side giggers pursuing their passions. Fiverr also has a Super Bowl ad, but we haven't seen it yet.  But no doubt it will feature creative independents.

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Small Business Labs

JANUARY 26, 2021

The World Economic Forum's (WEF) Global Risk Report identifies the top risks faced by businesses and society over the next decade.   This the 16th year WEF has issued a global risk report and the results come from an extensive risk survey of a wide range of risk related professionals. As the WEF chart below shows (click to enlarge), they group the risks by likelihood and impact.

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Small Business Labs

JANUARY 25, 2021

The 2021 edition of the annual Wunderman Thompson Future 100 report was released last year.  It's one of our favorite trend reports.  Here's how Wunderman Thompson, a global advertising and marketing agency, describes the report: The Future 100: Trends and Change to Watch in 2021   highlights  emerging consumer  behaviors  with 100 trend predictions from Wunderman Thompson Intelligence.

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Small Business Labs

DECEMBER 7, 2020

The interest and investments in vertical and indoor farms has been growing steadily for several  years. This is due to the advantages of indoor farming. By taking plants out of their outdoor environments and moving them inside to a controlled environment you can eliminate the problems associated with drought, pests, weeds and extreme weather. You can also locate farms closer to urban areas, which means fresher produce for consumers and lower transportation costs.  But COVID-19 has ad

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Environment 228

Small Business Labs

SEPTEMBER 28, 2020

Desktop Metal , a leader in 3D printing with printers than can build metal parts, is going public.  Supporters of the company claim this is the beginning of a much more successful era for 3D printing, which they're calling 3D printing 2.0. As the Crunchbase article 3D Printing Investment Going Vertical As Big Exit Looms points out, 3D printing has been around a long time and, so far, has not lived up to its hype.  Key quote: Transformative technologies often get massively overhyp

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Small Business Labs

AUGUST 31, 2020

According to the National Human Genome Research Institute synthetic biology is: " a field of science that involves redesigning organisms for useful purposes by engineering them to have new abilities. Synthetic biology researchers and companies around the world are harnessing the power of nature to solve problems in medicine, manufacturing and agriculture." Synthetic biology is not a new trend.

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Small Business Labs

AUGUST 3, 2020

It's looking much less likely the U.S. will experience a sharp, V-shaped recovery. Instead, a growing amount of data is indicating a slower, "swoosh" shaped recovery is likely. The swoosh refers to the shape of Nike's logo and indicates a recession that starts with a steep decline and is followed by a gradual recovery. According to the Wall Street Journal's Economic Forecasting Survey, 70% of economists think the recovery will be swoosh shaped.

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Health AT&T 272

Small Business Labs

JULY 22, 2020

Thrasio is a large and fast-growing acquirer of small consumer product companies that are part of Amazon's Fulfillment by Amazon program (FBA).  They recently raised $260 million in a funding round that values the company at $1 billion.   Thrasio's business model is fairly straight forward.  They find and buy category-leading consumer product small businesses that operate on Amazon's platform.  Key quote from Crunchbase's article on Thrasio's rec

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UPS 2017 161

Small Business Labs

JULY 20, 2020

Last week we had an article on U.S. Census data showing a big uptick in the number of Americans who are self-employed.   s It's likely this increase is caused by people who have lost their jobs turning to self-employment.   Because of this, we found the recent MBO Partners' blog post How to Become a Consultant: 5 Steps to Starting Right to be very timely.

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Small Business Labs

JUNE 15, 2020

Gensler, a large global integrated architecture, design, planning and consulting firm, recently released its U.S. Work From Home Survey 2020 report. The survey was done between April 16th to May 4th and the respondents "were required to be working full time for a company of 100 or more people, to have worked in an office environment prior to COVID-19, and to be currently working from home."  In other words, Gensler's surveyed nicely captured the views of people who typically wo

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Small Business Labs

MAY 26, 2020

Lots of work from home (WFH) surveys have been conducted over the past month.  And one of the most consistent findings of these studies is most people want to continue to work from home, but most of those only want to work from home part-time. For example, the Global Workplace Analytics Work from Home Experience Survey found that "U.S. employees want to continue working from home an average of 2.5 days a week (2 days/week globally)." And as the Harris/Zapier survey chart below show

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Forms AT&T 161

Small Business Labs

MAY 13, 2020

Yesterday we covered a series of recent articles saying it will take 2-3 years for the economy to recover to pre-pandemic levels. One reason for this view is almost all industries are being negatively impacted by the recession. Illustrating this is the BLS's employment diffusion index. This index is calculated by adding the percentage of industries with employment increasing plus one-half of the industries with unchanged employment.

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Restaurants 260

Small Business Labs

MAY 5, 2020

According to the research firm Barlow Research Associates , the average small business owner is 60 years old. And as the Barlow chart below shows (click to enlarge), almost 40% are aged 65 or older.  This raises an interesting question.  How will older small business owners react to the pandemic? Will they continue operating their businesses, or will they shut them down?

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Small Business Labs

APRIL 16, 2020

On April 2nd we released a set of scenarios with estimates of how high the unemployment rate may go in 2020 due to the pandemic induced recession.  As our chart below (click to enlarge) shows, already the current estimated unemployment rate (18%) has likely reached our optimistic case (18%).   Last week's unemployment claims came in at 5.2 million, which brings the total unemployment claims over the past 4 weeks to 22 million.  22 million is a bit over 13% of working

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Small Business Labs

FEBRUARY 27, 2020

The San Diego Union Tribune's Would you live in a van? Two San Diego women launch startup for boho traveler movement covers a new app - conveniently called The VanLife App - targeted at VanLife nomads. The article provides a good description of VanLife: "For those who haven’t heard of it, “vanlife” refers to a recent bohemian trend of people buying cargo vans, old ambulances, school buses and other boxy vehicles, and converting them into livable apartments on wheels (think of it as a do-

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Travel AT&T 161

Small Business Labs

FEBRUARY 20, 2020

OK, it's well known that Internet advertising has been growing rapidly.  But even knowing that, the chart below (click to enlarge) is still stunning.   The chart is from Adage's Marketing Fact Pack 2020 and shows that the internet's share of U.S. ad spending has increased from just 6.4% in 2006 to over 50% in 2020 and is forecast to reach 60% in 2022.

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Small Business Labs

JANUARY 27, 2020

California's new gig economy law, AB5, is not being well received by independent creative professionals.  Freelance writers, musicians, actors, artists, and other creative professionals are finding the new law is damaging their livelihoods. Indie musicians are a good example. Key quote from the musician's Change.org anti-AB5 petition : AB5 will have a devastating and catastrophic impact on independent musicians, their livelihoods and the music industry in general in California.

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Small Business Labs

JANUARY 14, 2020

The Johns Hopkins Non-Profit Economic Data Project recently released its 2019 Non-Profit Employment Report.  There are two key findings.  The first is the U.S non-profit sector is big, employing 12.3 million paid workers.   As the study chart below shows, this makes the non-profit sector as big in terms of employment as the U.S. manufacturing sector.

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Small Business Labs

JANUARY 7, 2020

California's new labor law, AB5, was meant to help Uber and Lyft drivers - and others - get hired as traditional employees with the hope this would increase their pay and financial security.  But the broadly worded and vague language of the new law is leading to a wide range of unintended negative consequences. It's also resulted in a growing backlash among independent workers as well as organizations that hire them.

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Small Business Labs

DECEMBER 22, 2019

We'll be back in 2020.

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Small Business Labs

DECEMBER 17, 2019

Skift is one of our favorite publications. It covers the travel, dining, and wellness industries from a business perspective. Because of their remit, they report on a wide range of interesting trends. The recently released their 10 Business Travel Trends for 2020. The 10 are: The Power of Being There in Person. Designing Great User Experiences to Boost Adoption.

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Small Business Labs

DECEMBER 16, 2019

Quartz’s members-only article (meaning you have to be a paying subscriber to see it) The stars, teams, and investors turning esports into big business nicely covers the rise of esports. Key quote: “Tens of millions of viewers are tuning in to watch other people play video games competitively, and it’s becoming big business …  it is creating a new kind of sports star, and both the gaming industry and professional sports franchises have taken notice.”.

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Small Business Labs

SEPTEMBER 24, 2019

California recently passed AB5 , a law that changes how workers are classified. AB5 establishes an “ABC” test to decide whether or not a worker is an employee or a contractor. The law starts with the assumption that everyone is an employee. To be considered an independent worker, a worker must: Be free of the hirer’s control; and. Do work that is “outside the usual course of the hiring entity’s business”; and.

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Small Business Labs

SEPTEMBER 3, 2019

According to a survey from the National Foundation for Credit Counseling , military service members and their spouses are turning turn to the gig economy to supplement their income.  Key quote from the study site : The findings of this year’s survey are a clear indication that military households are turning to the private sector for supplemental income.

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Small Business Labs

AUGUST 15, 2019

WeWork released its S-1 this week, which is the legal document a company files prior to going public.  WeWork going public is a bit of a watershed moment for the coworking industry. It's the first of the new wave of coworking spaces to do so. It's also a highly watched and controversial company, particularly due to its high private valuation and steep losses.

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Small Business Labs

AUGUST 8, 2019

SafetyPIN Technologies is a startup that has created a background check system and trust badge that lets people see at a glance if someone they met online - or elsewhere - is safe to meet offline. According to the company's website, SafetyPIN has: "developed a proprietary algorithm that draws on over 10,000 sources of data – and combines behavioral screening — to identify people you can trust the most – and assure them they can trust you, too." The algorithm checks an applicant's

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Social Media Confidence AT&T 105

Small Business Labs

JULY 31, 2019

Joshin is a new company that connects specialized caregivers with families with special needs care requirements.  Their goal is to make it as easy for families to book a caregiver as it is to book a ride with Uber or a dog walker with Roverr. Joshin curates their independent worker caregivers to ensure they have the qualifications to provide the care required.

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Small Business Labs

JUNE 13, 2019

Yesterday the CEO's of Uber and Lyft published an op-ed in the San Francisco Chronicle offering to support efforts to improve the working conditions, wages and rights of their drivers.  The offer is in response to a bill in the California legislature that would make it much more difficult for companies to classify workers as independent contractors.  The new legislation would codify a ruling by the California Supreme Court in the Dynamex case.

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Legal Policies UPS 114

Small Business Labs

MAY 28, 2019

"Risk shift" is the trend towards economic and other risks - and the responsibility for risk management - being shifted from institutions to individuals.  Examples include corporations shifting more responsibility for retirement, career planning and healthcare to their employees and governments reducing social safety net programs. Political scientist Jacob Hacker explored this trend in-depth in his 2006 book The Great Risk Shift.

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