All articles tagged with #small business
JPMorgan Chase announced the American Dream Initiative to boost U.S. small-business growth by expanding access to capital (aiming for $80 billion in credit over 10 years), increasing coaching from 87 to 150 coaches, and enhancing advisory services and community investments, as it seeks to grow the number of supported small businesses from 7 million to 10 million.
A US-Israel offensive against Iran and retaliatory regional tensions have pushed energy costs higher, with gas prices up about 30% in a month and groceries, mortgage rates, and other essentials rising. Americans nationwide describe cutting back on basics, delaying repairs, and juggling longer work hours to cope, while fears about retirement, healthcare, and overall financial security intensify for households and small businesses alike.
Tariffs introduced under Trump’s 2025 policy were meant to punish China and boost American competitiveness but ended up shielding foreign competitors and harming many U.S. firms, especially small businesses, with broad, far-reaching unintended consequences that policymakers have yet to fully reckon with.
Facing surging fuel costs, four U.S. business owners—a Portland clothing store, a bread bakery, a Powhatan manufacturing shop, and a Chicago spot carrier—say they won’t raise prices. They plan to absorb higher transportation and input costs, possibly impose temporary surcharges on retailers, and cut expenses where possible. Strong customer relationships, local sourcing, and flexible cost management are helping them weather the spike, but margins are under pressure and foot traffic or demand could still suffer as costs rise.
Tariffs are rippling through U.S. supply chains even before the Iran conflict, as fears of higher oil and energy costs push prices up. Small businesses across cities like Minneapolis, Atlanta and Chicago are bracing for steeper fuel bills and squeezed margins, raising concerns about margins, cash flow and daily operating costs amid global tensions and policy shifts.
Democrats are pressing for about $1,700 per U.S. household in tariff refunds, backed by state governors and a Senate bill to reimburse duties via Customs, arguing tariffs harmed consumers and small businesses after the Supreme Court ruled most tariffs illegal; however, the refund process remains unclear and could take up to 18 months, with funds potentially issued to businesses first and passed along to consumers.
Learning Resources, an Illinois toy maker, paid more than $10 million in tariffs after the Trump administration imposed tariffs on Chinese goods; the Supreme Court ruled the tariffs illegal in Learning Resources v. Trump, a decision the company says should lead to refunds and underscores how tariff policy can hurt small businesses and supply chains.
Gov. Bob Ferguson signaled support for a 9.9% tax on income over $1 million but would not back any income tax for individuals earning less than $1 million, insisting any bill must return significant revenue to Washington families and small businesses. He urged expanding the Working Families Tax Credit, broadening essential-item sales exemptions, and adding a biannual sales-tax holiday as the millionaire’s tax progresses from the Senate to the House; he did not commit to veto scenarios and highlighted the need for affordability measures as the session nears its March 12 deadline.
A string of cold snaps and winter storms across the United States has driven a surge in firewood and manufactured log sales, with suppliers in Nashville, New York, and North Carolina reporting record demand and longer delivery wait times as households seek warmth.
LA County's new report links federal immigration enforcement to economic vulnerability in immigrant communities, identifying ZIP 91402 as the most targeted and showing widespread small-business losses, fear-driven declines in foot traffic, and that undocumented workers account for about 17% of the county's economy and nearly $240 billion in output.
Trump’s cuts to climate and other science funding have reduced federal contracts and funding for research, pushing small science-driven firms to lay off workers, seek nonfederal clients, and cope with stalled SBIR and indirect-cost cap changes as lawmakers debate the next science budget.
Molly Culver, owner of Molly Oliver Flowers in Brooklyn, keeps her floral business afloat by reinvesting earnings and drawing a tight salary of about $23,000 while dipping into savings. She lives in a $600-per-month room in Ditmas Park with roommates, spends part of the year in her mother’s Connecticut home to save on rent, drives a used Prius, and groceries around $100 a week. She recently opened a new floral studio with a $2,800 monthly rent share and aspires to make $75,000 a year, illustrating how New Yorkers balance passion and cost in one of the world’s most expensive cities.
The Leicester-based maker of Early Days and Baypod baby shoes, famed for Prince George, warns it may close as rising overheads and a lull in demand bite the business; after a golden spell when royal exposure boosted orders, the firm now employs about 10 of its former 100+ staff and is seeking buyers, with some inquiries potentially moving production overseas.
A Richfield, Minnesota restaurant owner says ICE activity near Minneapolis is forcing staff to miss shifts out of fear, pushing him to cover long hours and trim operations, even closing for a day, while sales suffer and the business struggles to keep workers safe.
Democrats in Colorado are pushing three bills to curb consumer costs: requiring delivery apps to display in-store prices, banning price hikes in captive-audience settings (stadiums, hospitals, airports) to match local averages, and prohibiting differential pricing by producers to favor large retailers, with enforcement by the attorney general. The measures face opposition from business groups and Republicans, and are expected to be introduced in the coming weeks as lawmakers seek to curb what they see as price manipulation in the market.