New York SBDC Research Network

Excerpt from an article by Bob Coleman To read more, visit  ColemanReport "Paypal, Amazon and Alibaba pose more of a threat to traditional lenders than the Fintech industry. As Fintech ebbs and flows, these high tech giants are starting to put up some serious small business lending numbers. Amazon just passed $3 billion. Last year Paypal also topped $3 billion in small business lending in the United States. In the US, PayPal offers two financing programs, including one that is similar to the UK program, which takes a percentage of merchants’ PayPal revenue and is underwritten primarily on PayPal sales without a credit check. The other program available in the US is closer to a conventional business loan, taking into account a variety of credit factors and repaid with weekly payments from a business bank account."

Article by Scott Kirsner Read more in the Boston Globe When things start going south at a startup, no one wants to talk about it. The stream of self-congratulatory press releases and social media messages dries up, and executives suddenly stop replying to interview requests. Laid-off employees have typically been asked to sign nondisparagement agreements, so they clam up, too. Those reasons combine to make it tough to write about the most challenging stage of a startup’s existence: when it has burned through its bankroll, and will either die, get acquired by another company, or figure out some way to survive. [Cue Gloria Gaynor ]

Excerpt of an article by Megan Ray Nichols To read more, visit  Thomasnet "According to recent studies, approximately 2.6 million industrial robots will be active by 2019 — or one million more units than just a few short years ago. It's a record-setting pace that yields mixed reactions from the public. While some are skeptical of the role of robots in the future workplace, others are more than willing to embrace industrial robots and all the opportunities they provide in Industry 4.0. Big data is just as critical to Industry 4.0 as industrial robots. Many of these next-gen, AI-powered machines utilize advanced data sets to monitor day-to-day operations, provide recommendations, and even learn from their mistakes. Robots are especially popular in predictive maintenance. By monitoring the condition of production hardware and comparing it to recent trends, industry benchmarks, and manufacturers’ specifications, automated robots diagnose machines before they fail. This fun

From Health.ny.gov As part of the New York State Fiscal Year 2018‐2019 budget, a new law was enacted which places a two‐ year moratorium on the processing and approval of applications seeking the licensure of Licensed Home Care Services Agencies (LHCSAs). This moratorium became effective on April 1, 2018 and will continue until March 31, 2020.  The full language of the moratorium can be found in Section 9‐e of Part B of Chapter 57 of the Laws of 2018. To comply with the statute, no LHCSA application can be accepted for processing unless it meets one of the statutory exceptions.

Excerpt from an article by Amy Newcomb To read more, visit  Census.gov "Women continue to earn less than men in nearly all occupations, but this is more pronounced in fields that predominantly employ men and in professions with a comparable mix of men and women. The largest pay gap is within the finance and sales professions. Overall, women are also more likely to be employed in lower-paying jobs. “The pay gap has narrowed over the last 50 years,” said Lynda Laughlin, chief of the Industry and Occupation Statistics Branch at the U.S. Census Bureau. `However, the gender pay gap continues across the board in almost all occupations. In 2016, median earnings for women was $40,675, compared with $50,741 for men.'"

Excerpt from an article by Brian Eckert To read more, visit  Bplans A certified, professional accountant can be a valuable partner to a small business at all stages, from formation, to financials, to the sale of the business. Handling your own accounting might seem like a money-saving strategy, but it may not be the best use of your time. Aside from that, do-it-yourself accounting can sometimes result in expensive mistakes. Paying a professional can have benefits that far outweigh the added costs. But if an accountant makes an error or gives advice that has financial consequences for your business, it can create the sort of setback you were hoping to avoid by hiring a pro in the first place. As the business owner, you may incur liabilities or suffer losses that stem from an accountant’s negligence. If this happens, you may be able to hold the accountant legally responsible for financial losses that their actions (or failure to take action) result in. Suing isn’t always the f

From MarketingProfs As an online retailer, you have many options for fulfilling orders from customers, so it's important to figure out which business model is best for your goals. In this article, we'll cover the difference between dropshipping and other order-fulfillment options. We'll also detail the pros and cons of each order-fulfillment method so you can decide which option is right for your business and needs.

From News from ME : I do not live near "Beautiful Downtown Burbank" (as the great Gary Owens called it) but I fear for it. What's going on there, as described in the video below, is happening all over this country. It's the squeeze-out of non-chain businesses being replaced by cookie-cutter corporations. From YouTube : The retro charm of Burbank's unique shops is what makes Magnolia Boulevard a must-visit destination for all. Beloved by the community and visited by people worldwide, we are now in danger of losing everything that makes this strip unique.

From eMarketer The US economy is in relatively good shape when looking at measures like unemployment (it's down) and gross domestic product (it's up), but consumers are still feeling financial pressures. According to a Q1 2018 study by market researcher IRI, 47% of US internet users said they are making sacrifices to make ends meet. That's down from 50% in Q1 2017, but it's still a sizeable percentage. Even so, one-quarter of respondents plan to buy more premium brands in the next six months. This intent was stronger with higher-income brackets, as well as with retirees and seniors. When asked what they would be willing to pay more for, benefits beyond basic nutrition had the most interest (36%), followed by natural or organic products (29%). Paying extra for home delivery and in-store pickup of online orders were less popular.

From eMarketer For the most part, Facebook users haven't stopped using the social platform following the Cambridge Analytica revelations. In fact, in its Q1 2018 earnings report, the social media giant showed no sign of users—or advertisers—abandoning its platform. And according to a recent survey by Thomson Reuters, nearly half of US Facebook users said they haven't changed how much they use it. Interestingly, over a quarter of respondents said they use it more, while fewer report using it less (18%) and only 1% said they deleted their account. Still, there are some who are concerned about their personal data and how it will be used. When asked why they're sharing less content with friends and followers on social media, 47% of Facebook users said it was because they have privacy concerns.

From the New York Times : A trade war between the world’s two largest economies officially began on Friday morning as the Trump administration followed through with its threat to impose tariffs on $34 billion worth of Chinese products, a significant escalation of a fight that could hurt companies and consumers in both the United States and China. But the trade measures come at a cost for American firms, which are facing potentially devastating disruptions to their businesses. Economists say [the] trade war will raise costs for American industry, potentially threatening the manufacturing jobs that [he] has long said he wants to protect. And some of those higher costs will ultimately work their way through the supply chain to American consumers.

From SBA.gov The SBA is making it easier for small businesses to find lenders through Lender Match, a FREE online referral tool that connects small business borrowers with participating SBA lenders. Whether you live in rural America or a metropolitan area, SBA’s Lender Match can help you access capital for your business. Lender Match is a free online referral tool that connects small businesses with participating SBA-approved lenders.

From MarketingProfs : The Federal Trade Commission's Telemarketing Sale Rule (TSR) includes regulations to support both law enforcement and consumers. It provides the FTC and state attorneys general law-enforcement tools to combat telemarketing fraud; it gives consumers added privacy protections and defenses against unscrupulous telemarketers; and it helps consumers differentiate between fraudulent and legitimate telemarketing. Key provisions of the TSR include, without limitation, the following: required disclosures, prohibited misrepresentations, limited call-time windows, required information on caller ID transmissions, abandoned outbound call prohibitions, billing and payment restrictions, upsell requirements, pre-recorded message restrictions, and recordkeeping obligations. However, with some exceptions, most telephone calls between a telemarketer and a business are exempt from the TSR, and telemarketers often rely on the B2B exemption from applicable Do Not Call (DNC) regi

From eMarketer : A new survey finds that many consumers worry about how much personal information they've shared online. Indeed, a January 2018 survey of internet users in Western Europe and the US by digital identity management service provider ForgeRock found that more than half of respondents are concerned. What's more, they regret sharing different types of personal information online, particularly the sensitive kind.

From News From Me I have a New Concept for the Target Stores: Having salespeople who can actually sell you stuff…and this goes for Home Depot, as well. In the last month, I've had two instances, one at each chain, where I wanted to buy something, the store's computer system seemed to be doing everything possible to prevent that transaction from transacting and human beings were of little use to override it. I'll start with the Home Depot story…

From Federal Trade Commission The Federal Trade Commission and the New York Attorney General’s Office have charged two New York-based operations and their principals with running a scheme to collect money from consumers on fake and unauthorized debts. This action is part of the FTC’s continuing crackdown on all players in the phantom debt chain, including those who sell fake debt portfolios and those who harass consumers to collect the phony debt. According to the FTC, debt broker Hylan Asset Management LLC and its owner, Andrew Shaevel, bought, placed for collection, and sold lists of phantom debts, including debts that were fabricated by the defendants or disputed by consumers. Hylan placed these phony debts for collection with several collection agencies, including Worldwide Processing Group LLC and its owner, Frank A. Ungaro, Jr., who collected on the fake debts and used illegal tactics to do so. The complaint alleges that Hylan was aware the debt was fabricated. Much of it w

By Catherine Metcalf When you run a business, it’s important to control expenses so that you can remain profitable. However, unexpected costs can arise that throw off the balance. Employee injuries can be one of the most disruptive things that happen to a company. According to one work injury lawyer in Philadelphia, “When an employee suffers an injury at work, the employer’s workers compensation coverage will pay benefits to the injured employee.” However, the initial payout is only the beginning of financial effects that can be felt from this type of injury. Having an effective safety management system in place can help you to maintain your bottom line and keep you in business. Increased Premiums In many states, workers compensation insurance is mandatory for businesses with more than one employee. This insurance covers employees for rehabilitation, costly medical expenses, and wages lost as a result of a work-related incident. However, companies pay premiums based on th

From eMarketer The 26-year-old law that exempted online retailers from collecting sales tax in states where they have no physical presence has been overturned, per a US Supreme Court ruling Thursday. This practice was a holdover from a 1992 case, Quill Corp. v. North Dakota, when ecommerce looked very different from today. States looking to make up lost revenues have been pushing for reform for years. This case was brought by the state of South Dakota, but it has greater implications for the 45 states that rely on sales tax, as well as online retailers like Wayfair, Overstock.com and Newegg.com (all were involved in this case) that have argued that tax collection would be a logistical challenge and an unfair burden, particularly on smaller merchants.

From MarketingProfs Email subject lines that express gratitude tend to outperform email subject lines that do not, according to recent research from Cheetah Digital. The report was based on 2017 data from email campaigns sent by Cheetah Digital clients in a wide range of verticals. The researchers found email subject lines that included terms such as "with heartfelt thanks" and "thank you!" had average unique open and unique click rates that were 69% and 38% higher, respectively, than subject lines which did not express gratitude.

From eMarketer According to a February 2018 Nanigans survey of retail marketers, a vast majority (83%) think they would’ve achieved the same sales results if they hadn’t used retargeting. And yet, just 28% said they had the ability to measure whether sales occurred, organically or not. Even so, 53% of these retail marketers planned to spend more on performance ads in the next 12 months—on average, 24% more. This theme held true when respondents were asked about their biggest digital advertising challenges. More than half (55%) cited measuring true business impact. That sentiment was felt more strongly by larger companies (63%) than smaller ones (43%). Visibility into how ad budgets are being spent (39%) and ad fraud and viewability concerns (39%) were also challenges for respondents overall.