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Last week Congress passed and the president signed the CARES Act, a $2 trillion stimulus bill designed to help businesses and Americans weather the economic storm caused by the COVID 19 pandemic. Independent workers (the self-employed, freelancers, gig workers, etc.) qualify for a number of assistance programs contained in the bill. We'll be covering these over the next couple of days. MORE
The U.S. Census has created a Small Business Pulse survey to track and measure how small businesses are faring during the COVID-19 pandemic. MORE
The term disruptive innovation was coined by Harvard professor Clayton Christensen and popularized by his classic 1997 book The Innovator’s Dilemma. MORE
It’s clear remote work, and especially working from home , are trends that are being amplified and accelerated by the COVID 19 pandemic and related economic shutdown. But one group of remote workers are mostly not benefiting from the pandemic - digital nomads. MORE
Gensler, a large global integrated architecture, design, planning and consulting firm, recently released its U.S. Work From Home Survey 2020 report. MORE
This week Facebook announced Facebook Shops , which it describes as "a mobile-first shopping experience where businesses can easily create an online store on Facebook and Instagram." MORE
"Risk shift" is the trend towards economic and other risks - and the responsibility for risk management - being shifted from institutions to individuals. MORE
Campaign's How will adland's freelance industry and gig economy change due to COVID-19? covers how a group of advertising industry executives think the gig economy and freelance work will evolve in the aftermath of the coronavirus pandemic. MORE
Last week the Big 3 strategy consulting firm BCG released THE NEW FREELANCERS: TAPPING TALENT IN THE GIG ECONOMY , a study on "those who find temporary work through digital labor-sharing platforms." MORE
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. MORE
According to the U.S. Census, the number of nonemployer businesses in 2017 increased to 25,701,671, up 3.6% from 2016. Nonemployers are businesses that have an owner, but don't have paid traditional full or part-time employees (W2 employees). MORE
MBO Partners recently released its 2020 Client of Choice study results, which found that 7.6 million independent professionals (freelancers, independent consultants, etc.) provide their skills to business clients. MORE
Business Insider's California is attempting a massive labor experiment that could grow into a disaster for millions of workers outlines some of the many problems with California's new AB5 worker classification law. MORE
The 2019 U.S. version of the Global Coworking Unconference Conference Series (GCUC) happened last week in Denver. Over 500 attendees showed up to discuss the state of the coworking industry and learn from one another. MORE
As we pointed out earlier this week , firms of all sizes and types are increasing their use of freelancers and other forms of non-employee labor. MORE
Based on an industry by industry analysis (1), our base case estimate is 21% of U.S. employer small businesses will close in 2020 (2) (3). This is about 1.2 million small businesses. In our optimistic case, 14% close and in our pessimistic case, 34% close. MORE
Recode's How remote work is quietly remaking our lives provides a deep dive on the growing impacts of the shift towards working remotely. Key quote: "The changes remote work has introduced have happened so gradually you may not have noticed. MORE
In early April, we released a 2020 small business closure forecast. We've updated our forecast and the good news is we're more optimistic about small business survival rates than in our April forecast. MORE
Based on an industry by industry analysis of small business employment, our base case estimate is employer small businesses will layoff about 21 million employees through July (1). MORE
Regular readers know we cover retirement and the financial lives of baby boomers a lot here at Small Business Labs. The reason is older Americans have the highest rate of self-employment of any age group. MORE
CreditUnions.com's article 3 Ways to Connect Through Coworking Spaces provides an excellent example of how coworking is spreading across industry verticals and niche markets. The article highlights 3 credit unions that have opened coworking spaces. MORE
Despite trade wars, tariffs, and the erection of other barriers to cross-border commerce, independent workers, freelancers and solopreneurs are increasingly finding customers outside U.S. borders. MORE
The Federal Reserve recently released its 2019 Small Business Credit Survey. A key finding is the use of online lending sources by small businesses is rapidly expanding. MORE
Barclays, a large global financial firm, recently released a report and chart covering 150 trends that they think investors should watch over the next decade. The trends cover six broad categories and they rank all 150 trends by their likelihood of happening and their potential impact. MORE
The Atlantic's The Great Affordability Crisis Breaking America covers how the rapid rise in the prices of housing, healthcare, education and childcare and their impact on Americans. MORE
One of the ongoing questions around independent/gig work is its impact on the financial well-being of independent workers (freelancers, gig workers, self-employed, etc.). MORE
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. MORE
McKinsey's The overlooked essentials of employee well-being focuses on how companies can improve the well-being of their employees. MORE
The Effects of the Coronavirus on Hours of Work in Small Businesses , from Yale's Tobin Center for Economic Policy, shows the pandemic's dramatic and ongoing impact on small businesses. MORE
MBO Partners released their 2019 State of Independence study this week. This is the 9th year of this ongoing study, which provides an in-depth look at American's independent workers (freelancers, independent contractors, self-employed, etc.). MORE
The U.S. Census Small Business Pulse Survey for the week of June 14th to June 20th shows small businesses continue to struggle. 43% of the small businesses surveyed reported a decrease in revenue from the prior week while only 21% reported an increase. MORE
Fiverr this week announced a new service offering called "Studios" This service gives freelancers the ability to easily join forces to sell and tackle larger and more complex client assignments than a freelancer could do on their own. MORE
According to the National League of Cities (NLC) , 65% of cities are being forced to delay or cancel capital spending and infrastructure projects due to COVID-19. Unlike the federal government, most U.S. cities are required by charter to run a balanced budget. This MORE
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. MORE
Landing recently raised $30 million to provide a "living as service" service. The firm's founder describes this as : " an all-inclusive long-term living experience that allows a new generation of renters the freedom to choose where and how they live." MORE
Independent workers (freelancers, gig workers, independent contractors, etc.) consistently report a major benefit of being independent is the work flexibility, autonomy, and control it provides. It turns out having work flexibility, autonomy, and control may also mean you are at less risk of dying. MORE
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. MORE
According to the U.S. Census, the number of nonemployer small businesses increased to 26,485,532 in 2018, up 3% from 2017. Nonemployers are businesses that have an owner but don't have paid traditional full or part-time employees (W2 employees). MORE
Morningstar's 75 Must-Know Statistics About Race, Income, and Wealth covers a wide range of U.S. financial indicators by race. MORE
Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50. MORE
Small Business Labs
JULY 7, 2020
In early April, we released a 2020 small business closure forecast. We've updated our forecast and the good news is we're more optimistic about small business survival rates than in our April forecast.
Small Business Labs
JUNE 29, 2020
According to the National League of Cities (NLC) , 65% of cities are being forced to delay or cancel capital spending and infrastructure projects due to COVID-19. Unlike the federal government, most U.S. cities are required by charter to run a balanced budget. This
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Small Business Labs
JUNE 24, 2020
The Effects of the Coronavirus on Hours of Work in Small Businesses , from Yale's Tobin Center for Economic Policy, shows the pandemic's dramatic and ongoing impact on small businesses.
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.
Small Business Labs
JUNE 30, 2020
The U.S. Census Small Business Pulse Survey for the week of June 14th to June 20th shows small businesses continue to struggle. 43% of the small businesses surveyed reported a decrease in revenue from the prior week while only 21% reported an increase.
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.
Small Business Labs
JUNE 11, 2020
Independent workers (freelancers, gig workers, independent contractors, etc.) consistently report a major benefit of being independent is the work flexibility, autonomy, and control it provides. It turns out having work flexibility, autonomy, and control may also mean you are at less risk of dying.
Small Business Labs
MAY 21, 2020
This week Facebook announced Facebook Shops , which it describes as "a mobile-first shopping experience where businesses can easily create an online store on Facebook and Instagram."
Small Business Labs
JUNE 25, 2020
Regular readers know we cover retirement and the financial lives of baby boomers a lot here at Small Business Labs. The reason is older Americans have the highest rate of self-employment of any age group.
Small Business Labs
MAY 18, 2020
MBO Partners recently released its 2020 Client of Choice study results, which found that 7.6 million independent professionals (freelancers, independent consultants, etc.) provide their skills to business clients.
Small Business Labs
MAY 27, 2020
According to the U.S. Census, the number of nonemployer small businesses increased to 26,485,532 in 2018, up 3% from 2017. Nonemployers are businesses that have an owner but don't have paid traditional full or part-time employees (W2 employees).
Small Business Labs
MAY 19, 2020
The U.S. Census has created a Small Business Pulse survey to track and measure how small businesses are faring during the COVID-19 pandemic.
Small Business Labs
APRIL 27, 2020
It’s clear remote work, and especially working from home , are trends that are being amplified and accelerated by the COVID 19 pandemic and related economic shutdown. But one group of remote workers are mostly not benefiting from the pandemic - digital nomads.
Small Business Labs
NOVEMBER 18, 2019
Brookings' Meet the Low Wage Workforce reports that 53 million Americans, or about 44% of all workers aged 18-64, have low-wage jobs. According to Brookings, the national average for a low-wage job is one that pays $16.03 per hour or less.
Small Business Labs
MARCH 29, 2020
Last week Congress passed and the president signed the CARES Act, a $2 trillion stimulus bill designed to help businesses and Americans weather the economic storm caused by the COVID 19 pandemic. Independent workers (the self-employed, freelancers, gig workers, etc.) qualify for a number of assistance programs contained in the bill. We'll be covering these over the next couple of days.
Small Business Labs
JULY 9, 2019
Despite trade wars, tariffs, and the erection of other barriers to cross-border commerce, independent workers, freelancers and solopreneurs are increasingly finding customers outside U.S. borders.
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.
Small Business Labs
APRIL 7, 2020
Based on an industry by industry analysis (1), our base case estimate is 21% of U.S. employer small businesses will close in 2020 (2) (3). This is about 1.2 million small businesses. In our optimistic case, 14% close and in our pessimistic case, 34% close.
Small Business Labs
APRIL 9, 2019
According to MetLife's 2019 U.S. Employee Benefits Study, 23% of Americans with full-time traditional jobs intend to switch to gig work over the next 5 years. Another 14% say they are considering it.
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.
Small Business Labs
APRIL 20, 2020
Vertical IQ is a leading provider of Industry Intelligence for those advising small- and medium-sized businesses such as bankers, accountants, and other SMB advisors.
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.
Small Business Labs
NOVEMBER 19, 2019
Business Insider's California is attempting a massive labor experiment that could grow into a disaster for millions of workers outlines some of the many problems with California's new AB5 worker classification law.
Small Business Labs
AUGUST 29, 2019
One of the ongoing questions around independent/gig work is its impact on the financial well-being of independent workers (freelancers, gig workers, self-employed, etc.).
Small Business Labs
MARCH 14, 2019
As we pointed out earlier this week , firms of all sizes and types are increasing their use of freelancers and other forms of non-employee labor.
Small Business Labs
JULY 8, 2019
According to the U.S. Census, the number of nonemployer businesses in 2017 increased to 25,701,671, up 3.6% from 2016. Nonemployers are businesses that have an owner, but don't have paid traditional full or part-time employees (W2 employees).
Small Business Labs
JUNE 20, 2019
MBO Partners released their 2019 State of Independence study this week. This is the 9th year of this ongoing study, which provides an in-depth look at American's independent workers (freelancers, independent contractors, self-employed, etc.).
Small Business Labs
APRIL 2, 2020
Based on an industry by industry analysis of small business employment, our base case estimate is employer small businesses will layoff about 21 million employees through July (1).
Small Business Labs
FEBRUARY 11, 2020
The Atlantic's The Great Affordability Crisis Breaking America covers how the rapid rise in the prices of housing, healthcare, education and childcare and their impact on Americans.
Small Business Labs
APRIL 23, 2019
The Federal Reserve recently released its 2019 Small Business Credit Survey. A key finding is the use of online lending sources by small businesses is rapidly expanding.
Small Business Labs
APRIL 22, 2019
The 2019 U.S. version of the Global Coworking Unconference Conference Series (GCUC) happened last week in Denver. Over 500 attendees showed up to discuss the state of the coworking industry and learn from one another.
Small Business Labs
FEBRUARY 19, 2019
Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50.
Small Business Labs
AUGUST 5, 2019
Fiverr this week announced a new service offering called "Studios" This service gives freelancers the ability to easily join forces to sell and tackle larger and more complex client assignments than a freelancer could do on their own.
Small Business Labs
JANUARY 28, 2019
Last week the Big 3 strategy consulting firm BCG released THE NEW FREELANCERS: TAPPING TALENT IN THE GIG ECONOMY , a study on "those who find temporary work through digital labor-sharing platforms."
Small Business Labs
OCTOBER 16, 2018
McKinsey's The overlooked essentials of employee well-being focuses on how companies can improve the well-being of their employees.
Small Business Labs
APRIL 1, 2019
CreditUnions.com's article 3 Ways to Connect Through Coworking Spaces provides an excellent example of how coworking is spreading across industry verticals and niche markets. The article highlights 3 credit unions that have opened coworking spaces.
Small Business Labs
OCTOBER 14, 2019
Recode's How remote work is quietly remaking our lives provides a deep dive on the growing impacts of the shift towards working remotely. Key quote: "The changes remote work has introduced have happened so gradually you may not have noticed.
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.
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.
Small Business Labs
FEBRUARY 13, 2020
Landing recently raised $30 million to provide a "living as service" service. The firm's founder describes this as : " an all-inclusive long-term living experience that allows a new generation of renters the freedom to choose where and how they live."
Small Business Labs
MAY 8, 2020
Campaign's How will adland's freelance industry and gig economy change due to COVID-19? covers how a group of advertising industry executives think the gig economy and freelance work will evolve in the aftermath of the coronavirus pandemic.
Small Business Labs
APRIL 22, 2020
Barclays, a large global financial firm, recently released a report and chart covering 150 trends that they think investors should watch over the next decade. The trends cover six broad categories and they rank all 150 trends by their likelihood of happening and their potential impact.
Small Business Labs
NOVEMBER 27, 2018
The term disruptive innovation was coined by Harvard professor Clayton Christensen and popularized by his classic 1997 book The Innovator’s Dilemma.
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