New York SBDC Research Network

From FiveThirtyEight : The new year brought raises — sometimes big ones — to millions of low-wage workers. It also begins the country’s first large-scale experiment in the economic effects of a double-digit minimum wage. According to data collected by the National Employment Law Project, a workers-rights advocacy group, 19 states and 21 local jurisdictions raised their minimum wages at the start of 2017. Many of those increases were small cost-of-living adjustments, but some of them were dramatic. Arizona, where voters approved a wage hike on Election Day, raised its minimum wage by nearly $2 an hour, to $10 from $8.05... Some cities set the bar even higher... Low-wage workers are understandably cheering the increases. So is the union-backed "Fight for $15" movement, which defied the odds to put the minimum wage back on the political agenda. Economists, though, are watching more warily. Researchers disagree about how minimum-wage hikes affect the economy, but most stud

From BizJournals : Economic developer Alison Lands has been named the next executive director of the New York State Economic Development Council. Lands, who most recently worked as a senior manager at Deloitte Consulting LLP, was confirmed as executive director designate yesterday by the council's board of directors. She will replace Brian McMahon, who has served as executive director for the council for 16 years, after he retires on July 1.

The SBA Office of Advocacy released its annual report, Report on the Regulatory Flexibility Act, FY 2016 . The report analyzes federal agency compliance with the Regulatory Flexibility Act (RFA), as well as with provisions of the Small Business JOBS Act of 2010 and Executive Order 13272, “Proper Consideration of Small Entities in Federal Rulemaking.” The RFA is Advocacy’s most effective tool for bringing small business concerns into the regulatory process. In FY 2016, Advocacy’s intervention on behalf of small business in federal rulemaking resulted in foregone regulatory cost savings of almost $1.4 billion. These cost savings came from Advocacy’s work on seven rules that were made final in FY 2016. These and other regulatory successes stem from small business involvement in rulemaking made possible by the RFA. Advocacy facilitated this during FY 2016 through 27 small business roundtables, 20 public comment letters, working closely with agencies on small business concerns, and ongo

From ThomasNet : How can we measure growth for the industry overall? A good barometer is the state of the manufacturing workforce. That’s why we will be regularly diving deep into the latest information from the Bureau Of Labor Statistics to take the pulse of hiring in the industry and to highlight sectors that are growing. According to the BLS's Employment Situation report for December, a total of 156,000 new jobs were added to the economy. However, despite this increase, the national unemployment rate ticked up one percentage point, from 4.6% in November to 4.7% in December. Within the manufacturing industry, a total of 17,000 new manufacturing jobs were created during the month. However, the unemployment rate rose slightly, from 3.9% to 4%, meaning the industry finished the year with the exact same unemployment rate as it did in 2015. As far as year-over-year growth manufacturing job growth, 2016 proved to be a mixed bag. While many sectors either held steady or lost wor

From Inc If you haven't noticed, Millennials have been on the rise. They are now the largest living group according to the Census Bureau. Because so many Millennials are in charge of buying decisions, the world is changing and business trends for the upcoming years will have to cater more to this generation. For an audience that craves success and technology, here are 10 strategies you may want to consider revamping for 2017. From Entrepreneur While it’s no secret that millennials have taken over the workforce -- according to Census Bureau data, they are now the largest living group -- how we groom them for leadership is a test many of us will face in 2017. Sure enough, a Bersin by Deloitte report has predicted that 2017 will be a disruptive year, during which more than three million company chiefs are set to retire, leaving those jobs wide open for up-and-coming young professionals. So, here’s my advice: Plan ahead. Give your young employees the tools to be leaders no

From Emarketer The divide between retail winners and losers seemed to widen further this holiday season. The losers seemed to garner most of the headlines over the past week. A parade of retailers, including Macy's, Sears and Barnes & Noble, delivered disappointing holiday sales. Women's apparel retailer The Limited shuttered its 250 brick-and-mortar stores. Retail heavyweight Wal-Mart Stores Inc. reportedly is planning to cut hundreds of jobs before the end of this month. These retailers share a common thread: brick-and-mortar general merchandise, apparel or book chains, retail sectors that have been hurt by consumers choosing to spend more money online, or on other types of purchases, whether gadgets or home supplies or even experiences. While general merchandise and discount brick-and-mortar store sales fell 2.8% this holiday season, online demand in the segment actually surged 29%.

From Bplans : According to a study undertaken by the Small Business Administration, 28 percent of companies go bankrupt due to problems with the financial structure of the company. Many of these problems could be avoided by following good accounting practices. Keeping a record of your financial details IS important to the livelihood of your business. Not only will the correct documents make it easy to file taxes, obtain new loans, and pitch investors, but they will also give you insight into the day to day health of your business, allowing you to make better decisions for the future. The infographic will guide you through the essential documents you need, including helpful tips on finding an accountant for your small business.