New York SBDC Research Network

From the Census Bureau: Observed on the first  Friday  in October. Key Stats: Source: Annual Survey of Manufactures. This infographic contains statistics indicating that manufacturing establishments show gains in receipts, but lower employment  over time.    Infographic: Manufacturing in America: 2015 Source: 2014 Annual Survey of Manufactures.  More Stats: Source:  Census  Library.    Visualization:  Measuring America: Manufacturing in America: 2016 Source: Manufacturers’ Shipments, Inventories, & Orders . The Manufacturers’ Shipments, Inventories, & Orders (M3) survey provides broad-based, monthly statistical data on economic conditions in the domestic manufacturing sector. The survey measures current industrial activity and provides an indication of future business trends.    Manufacturers' Shipments, Inventories, & Orders  home page    Monthly Full Report on Manufacturers’ Shipments, Inventories, and Orders  June

From the Department of Homeland Security : USCIS administers the EB-5 Program. Under this program, entrepreneurs (and their spouses and unmarried children under 21) are eligible to apply for a green card (permanent residence) if they: Make the necessary investment in a commercial enterprise in the United States; and Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers. This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive. Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program. This sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth.

From MarketingProfs : Consumers say they are most likely to trust online influencers who come across as credible and who appear to have actually used the products/services incorporated into their posts, according to research from IZEA. The report was based on data from a survey conducted in 2016 of 1,000 consumers age 18-70 in the United States who use social media. Some 67% of respondents say the credibility/believability of an influencer is highly important in making sponsored posts effective; and 64% say it is very important that the influencer seems to have actually tried the product/services incorporated into posts. Less than half of consumers say an influencer's popularity/follower count makes sponsored posts more effective.

From Zendesk : Two-dimensional customer service is a thing of that past. Customers are pushing brands harder than ever to earn their loyalty. They want the personal attention that comes from dealing with a human, but the speed and accuracy associated with automated systems. This newly released report details the findings of a consumer survey, with 89% of respondents agreeing that brands need to offer a consistent customer service experience across all channels to retain their loyalty. See the numbers for yourself and as we examine the emerging trends of 2017. Zendesk recently commissioned research firm, Loudhouse, to explore this important and perplexing challenge. The research conducted illuminates four key trends of which important conclusions can be drawn: This report explores these key areas further, providing deep insight for businesses keen to stay ahead of their competition through improvements in their customer service strategies.

From The Independent : Millennials' preferences are killing dozens of industries. There are many complex reasons millennials' preferences differ from prior generations', including less financial stability and memories of growing up during the recession. “I think we have got a very significant psychological scar from this great recession,” Morgan Stanley analyst Kimberly Greenberger told Business Insider... “Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants,” Buffalo Wild Wings CEO Sally Smith wrote in a letter to shareholders earlier this year... Beer penetration fell 1% from 2016 to 2017 in the US market, while both wine and spirits were unmoved, according to Nielsen ratings.

From Brooks Digital : A few years ago I was in a serious battle with overwhelm at work. I was constantly feeling stressed about all the different projects that needed to be moved forward. While my inbox tugged me in five different directions, I had this ever-present feeling of guilt about the things I knew I really should be doing, but kept putting off. And even when I wasn't working, the stream of notifications, emails, and texts kept me half-present with my friends and family. It was exhausting. I knew there had to be a better way. So I set out to find the root of the problem and learn how to get more of the right things done without my responsibilities having an iron grip over my mind 24/7. And while I'm still not perfect, I've grown tremendously. I’m in control of my schedule, can be more present with my friends and family, and I’ve canned the nagging guilt...

From LinkedIn : Robots are going to take our jobs, they say. I say, "Only if that's what we ask them to do!" Technology is the solution to human problems, and we won't run out of work till we run out of problems. Entrepreneurs need to set their sights on how we can use big data, sensors, and AI to create amazing human experiences and the economy of the future, making us all richer in the same way the tools of the first industrial revolution did. Yes, technology can eliminate labor and make things cheaper, but at its best, we use it to do things that were previously unimaginable! What is our poverty of imagination? What are the entrepreneurial leaps that will allow us to use the technology of today to build a better future, not just a more efficient one? Great entrepreneurs like Jeff Bezos and Elon Musk are using technology to do more, not just to do the same thing more cheaply. That is the secret both to business success and to making the world more prosperous.

From the New York Times : After Nazi-saluting white supremacists rioted in Charlottesville, Va. and President Trump dithered in his response, a chorus of business leaders rose up this past week to condemn hate groups and espouse tolerance and inclusion. And as lawmakers in Texas tried to restrict the rights of transgender people to use public bathrooms, corporate executives joined activists to kill the bill. These and other actions are part of a broad recasting of the voice of business in the nation’s political and social dialogue, a transformation that has gained momentum in recent years as the country has engaged in fraught debates over everything from climate change to healthcare... “In this maelstrom, the most clarifying voice has been the voice of business,” said Darren Walker, the president of the Ford Foundation and a board member at PepsiCo. “These C.E.O.s have taken the risk to speak truth to power.”

From ImpactBnd : As the outward face of the company, a customer service representative (CSR) is one of the most important players on your sales team. If those on the frontlines have poor judgment when it comes to working with the people that perform end-purchasing, even the most stellar business plan or innovative product can be undone. Anyone who works with customers knows a single negative interaction with a client can overshadow the effects of even dozens of positive ones. It’s the same on the receiving end. If you consider customer service experiences, chances are you recall the time a meal took forever, when it came out it was wrong, and the manager refused to apologize and spilled sauce on you, rather than the scores of times your dinner went without a hitch. Why? Because great customer service is seamless and meant to look easy. However, like a bad magic act, when the tricks fall flat, audiences start to walk out in droves, and the consequences of poor service do no

From The Ladders : “Datafication.” “Operationalize.” “Let’s parking lot this.” These are just a few of the workplace phrases and words that people found “most ridiculous,” according to recent research. The American Express OPEN ‘Get Business Done’ Survey , released recently, shows that some employees are just spewing words in the office without really grasping what they mean. “Have you ever heard a coworker say something like, ‘It ladders up to our overarching framework and optimizes the impactfulness of our deliverables,’ and wondered, ‘HUH?’ You’re not alone,” American Express says, comfortingly. We are all part of the problem: the research found that 88% of respondents said they use jargon without understanding it, and 64% reported using words and terms like this “multiple times” weekly. Make no mistake: you do have to break the habit. These words make you look silly.

From Bplans : Everyone knows that a business name is important. It is the single most used aspect of your future brand. Ideally, yours will be mentioned by reporters, shared by referrals, and hopefully remembered by customers when the need for your solution arises. A great name like PayPal can introduce your company, hinting at what makes it unique and interesting. PayPal is a payment solution with an upbeat brand and uniquely easy user experience—their name brilliantly captures this value proposition. An intriguing name like Uber can help build buzz, causing people to wonder, “What is that?” An emotive name like SalesForce can resonate deeply with potential customers, lending a sense of authority. Naming is often one of the first business activities where the rubber meets the road—where an idea becomes a reality... We have discovered that a great name evolves from an excellent business plan. A company that has gone through the process of defining their business by writing a

Each year the New York Small Business Development Center recognizes outstanding small businesses in a variety of ways.  This Success Story from the  Binghamton SBDC appears in our 2016 Annual Report .  Al Fargnoli Sweeney’s Market Binghamton SBDC The Binghamton SBDC became aware of the New York Healthy Food & Healthy Communities (HFHC) Fund administered by the Low Income Investment Fund, which provides financial resources for rural grocery stores to upgrade their store equipment and improve the offerings to their community.  Advisor Ken Homer consulted Tioga County Economic Development to identify rural grocery stores that might benefit from the program. Al Fargnoli, second generation owner and operator of Sweeney’s Market, was one of those with the potential to benefit from a grant. Sweeney’s Market supports its community’s local rural population, which includes low income, food stamp recipients, WI

From MarketingProfs : People remember 80% of what they see, 20% of what they read, and 10% of what they hear, according to an infographic by Instagram service provider Gramlike. So it's no wonder than Instagram is a popular social media platform, and not just for consumers but for brands as well. With 90% of Interbrand's "Top 100 Global Brands" on Instagram, and 53% of Instagram users following their favorite brands on the social network, according to the infographic, it's clear that the platform can be valuable when it's used well. The infographic gives tips on how to accomplish exactly that, such as noting that posts with location tags drive higher engagement than those without, and images with faces receive 38% more likes than those without.

From Forbes : From talking to fellow coaches, clients and business leaders, it’s clear that we are in the midst of a fundamental shift in the way "careers" are built. Professionals have enthusiastically embraced the power of personal branding to distinguish themselves in their fields. The traditional resume is far less important than it used to be; recruiters now scour LinkedIn to find potential candidates. And as the 9-to-5 corporate mindset gives way to a more gig-focused mentality, it’s less about who you work for and more about building your own personal brand. Many of these new platform-savvy thought leaders are embracing public speaking as a powerful way to land new clients. In fact, look at any list of the top names in a particular niche, and you’ll likely find one thing in common: They understand how to use public speaking to strengthen their personal brands... While live public events can be great, there are some definite drawbacks. Yes, there’s the time comm

From eMarketing : US consumer spending levels are nearly back to where they were before the global financial crisis in 2008, according to new survey data from Gallup. Those polled spent an average of $109 per day in July, excluding spending on normal household bills and major purchases, such as a home or car. That was the highest figure reported by Gallup since May 2008, when the average hit $114 per day. Daily average spending by consumers in the US fell precipitously soon after, thanks to the Great Recession. The new data is something of a contrast to Gallup survey data released in May of this year, which found that 60% of financially worried consumers said they preferred saving to spending.