All articles tagged with #small business
Robert Burck, the Naked Cowboy, earns an average of $150,000 annually through a diversified business model that extends far beyond street tips. By treating his persona as a brand, he generates revenue through Cameo videos, merchandise, and licensing, while maintaining a strict routine and low overhead to sustain his lifestyle in New York City.
Robert Burck, the 55-year-old 'Naked Cowboy' of Times Square, reports an average annual income of $150,000. While he has performed in the area for over two decades, his earnings are not solely dependent on street tips. Burck, who resides in Queens, leverages his persona through merchandise sales, Cameo video requests, paid appearances, and licensing deals. This diversified approach allows him to maintain a stable income in New York City, one of the most expensive U.S. markets. The strategy highlights how self-employed performers can mitigate financial risk by extending their brand beyond physical foot traffic.
A new book by economists Owen Zidar and Eric Zwick reveals that 3 million American households with net worths over $5 million hold more collective wealth than the Forbes 400. These 'Main Street Millionaires' primarily own pass-through businesses in mundane sectors, benefiting from tax structures that lower their effective rates compared to traditional corporations.
Cricut has launched the StickerPix Print and StickerPix Print + Cut, two compact devices designed to print, laminate, and cut custom stickers and photos. Priced at $169 and $299 respectively, the machines use dye-sublimation technology to produce water-resistant, scratch-proof outputs. The larger model features a built-in cutter for custom shapes, while the smaller model relies on pre-cut sheets. Both integrate with the free Cricut Design Space app, targeting hobbyists, small business owners, and Etsy sellers looking for an affordable, space-saving alternative to professional print shops.
The viral Boston Globe report on Greenfield’s Last Ditch Bar has drawn national attention to a local financial crisis. The venue, which opened in 2025 with strict mask mandates to protect immunocompromised patrons, made masks optional on Saturdays to boost revenue. This decision triggered intense backlash from the queer and disabled communities it serves, leading to a boycott and the departure of two founders. The remaining owner, Jackie Matellian, is now struggling with a $50,000 loan and unpaid rent. While conservative media and some progressives have criticized the bar’s internal conflicts, local business owners and officials in Greenfield are urging unity and supporting the venue’s survival.
A 68-year-old operator of a breakfast cafe franchise has filed for Chapter 11 bankruptcy. The filing marks the latest instance of financial distress in the casual dining sector, following recent reorganizations by other food service operators. While specific details regarding the franchisee's identity, location, or debt levels are not provided in the available source, the move aligns with broader industry trends of rising costs and operational challenges.
Last Ditch Bar in Greenfield, Massachusetts, faces potential closure after making masks optional on Saturday nights to boost revenue. The move triggered a boycott from local queer and disabled patrons, who viewed the change as ableist. The bar’s sole remaining owner, Jackie Matellian, is now struggling with a $50,000 loan, unpaid rent, and a community that has largely abandoned the venue.
Fairfax Avenue’s business corridor in Los Angeles is grappling with a near-20% retail vacancy rate as landlords demand Beverly Hills–level rents, a blow from the loss of anchors like Supreme and ongoing post‑pandemic weakness. Street conditions and dwindling foot traffic have hurt retailers, but city efforts—including $2 million in funding to rebuild Fairfax and plans for a Business Improvement District—offer a path to revival, with Canter’s Deli remaining a resilient anchor and a few newer spots keeping faith in the block.
U.S. small businesses say today’s disruptions—fuel and shipping cost spikes, port and weather bottlenecks, and geopolitical shocks from the Iran war—are worse than during Covid, with ISM surveys flagging volatility and uncertainty. Firms are delaying planning, squeezing margins, and passing higher costs to consumers as energy and freight prices stay elevated, signaling that inflation may remain stubbornly high even if the conflict eases.
Tariffs and rising shipping costs tied to the US–Canada trade war are squeezing sales for small firms from Revival Stillworks and AmpRx in the U.S. to beekeepers in Canada. Companies report higher import costs and disrupted planning, with Canadian demand softening for some products, and beekeepers warning tariffs could threaten many operations as cheap imports and market pressures press prices downward. Experts say a cooler-headed approach to trade policy is needed to prevent a broader slowdown in cross‑border commerce.
A Buffalo, NY coffee shop owner used ChatGPT to create an AI-generated menu poster, prompting swift online backlash and hostile DMs; after apologizing and noting the challenge of new motherhood, she said the shop would not use AI for menu artwork or promotions, reflecting a growing wave of AI scrutiny faced by small businesses.
A surprise visit from SNL comedian Marcello Hernandez to Mi Tiendita Munaycha in Old Sacramento lifts owner Jessy Flores amid ongoing struggles with slow foot traffic and rising import costs; a viral dance from the visit drew new attention and some orders, but Flores plans to downsize to a shared space and seek additional work to keep the business afloat.
Kenya's Trade Ministry warns visa-free entrants are not authorized to work and will shut down unlicensed migrant-run small businesses, as President William Ruto orders foreigners to cease small-scale trading. The crackdown aims to ensure compliance with work-permit rules and has sparked regional concern among East Africans and Burundian traders about broader impacts on migrant commerce.
Kenya’s President William Ruto ordered a crackdown on foreign nationals running small retail shops and hawking, effective Sept. 7, to reserve such activities for Kenyans while welcoming foreign investment in capital-intensive ventures. The government also pushes the Local Content Bill 2025 to boost local sourcing and employment, with Parliament urged to accelerate its passage; foreigners with valid work permits remain legally protected, though applicability of the directive to current permit holders remains unclear. Analysts say foreign investment should complement Kenyan enterprise, but its impact hinges on implementation. The Tata Chemicals dispute is separate from this directive.
At Half-Way House Freight Forwarding, a century-old shop straddling the US–Canada border, a simple business becomes a lens on escalating tariff tensions: new duties on hundreds of goods and threats to higher car/auto tariffs could push up prices for everyday items, with economists noting consumers and retailers bear most of the burden. The family-owned operation, now for sale, underscores how deeply cross-border trade is woven into local life even as policymakers clash.