Small Business Labs

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Good Morning America on Side Hustles

Small Business Labs

Good Morning America had an excellent segment on gig economy side hustles this morning (see the video below). It focused on women and side gigs, but they hit on the main reasons both men and women get side jobs - they provide a flexible way to supplement their income and earn money in response to a financial shock. We also liked the end of the segment when the announcers talked about the side gigs they've done.

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Gig Platform Workforce in England and Wales Nearly Tripled Over the Past 5 Years

Small Business Labs

The U K's Trades Union Congress (TUC) recently released a study that found that about 14.7 percent of workers in England and Wales - about 4.4 million workers - regularly perform work via an online gig platform.  They also found that 22.6% of workers in England and Wales have used gig platforms to find work at some point. This is up from 5.8% who performed work via online platforms regularly (at least once per week) in 2016.

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Social Commerce Forecast to Boom

Small Business Labs

One of the hottest investment firms is Ark Investment Management.  Their investment focus is on firms creating disruptive innovation and their stable of exchange-traded funds has around $40 billion invested in them. Their recent article Social Commerce:  The Next Wave in Online Shopping outlines why they're forecasting social commerce to boom over the next 5 years.

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Poynter Series on Journalists Going Freelance

Small Business Labs

The Poynter Institute is a non-profit that explores "the intersection of journalism, technology and the public interest."  They also provide training for journalists and programs that support their role in society.  They recently released a series of articles on freelancing.  These include: Why journalists are leaving their full-time media jobs to go freelance : this article covers one journalist's freelance journey, which started less than a year ago.  Key qu

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America's Growing Diversity

Small Business Labs

According to the 2020 census, between 2010 and 2020 the white population in America declined  by 5.1 million.   And as the chart below (click to enlarge) nicely illustrates, all of America's population growth in the past decade came from people of color.   The chart comes from Brookings' New 2020 census results show increased diversity countering decade-long declines in America’s white and youth populations.  The article point out that white population

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It's Time to Upgrade U.S. Economic and Labor Statistics

Small Business Labs

Sometimes we post articles on topics few people are interested in.  This is such an article.   But you should be interested because the economic and labor data collected by government agencies no longer provide the information we need to properly understand and manage the U.S. economy. Over the past week several sources explained the problems with government data collection efforts and made suggestions on how to improve them.

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Small Business Applications in May 2nd Highest Ever

Small Business Labs

May was yet another banner month for new business applications.  As the U.S. Census chart below shows (click to enlarge), 500,219 business applications were filed in May.  This was the second highest number of applications filed since this data was first collected in 2005. The recent surge in applications started last summer in July when a record 551,000 business applications were filed.   The surge has, so far, continued in 2021.

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