Bringing you the latest on small business news and more—this month we’ve got the rundown on Black Friday and Small Business Saturday, what’s up with EMV in retail, and #smallbizsquad.
Black Friday, aka “Small Business Saturday Eve”
Black Friday came around once again. But retail sales volume fell again this year, as more consumers look online and elsewhere for holiday deals.
Meanwhile, many small businesses (and some larger ones) are rejecting Black Friday. Is Black Friday on its way out?
Small Business Saturday, on the other hand, continues to grow. Spending topped $16 billion, up from $14 billion in 2014. U.S. News summed up the holiday and why it matters.
However, Gene Marks has his own thoughts on Small Business Saturday: he says it’s an overhyped PR stunt. That doesn’t necessarily mean it’s a waste for small businesses though, as Chris Myers argues in his rebuttal.
Who knew Small Business Saturday could be so divisive?
EMV slowdown
The introduction of EMV-enabled cards and readers has been slowing down retail lines around the country. With holiday sales on the upswing, many say the shift couldn’t have come at a worse time.
High-tech payments
Amidst startup pessimism, Square settled for a $9 share price for its IPO. It quickly shot up to $14 and settled around $13 by the end of the day. Could this be a turnaround for tech startup IPOs?
Speaking of Square, more than half of small business owners are now using high tech payment systems such as Square and Apple Pay.
But are mobile payments overhyped? One survey by Princeton and Bankrate found that 39 percent of holiday shoppers are planning to pay for holiday payments with good old-fashioned cash.
Labor pressure
In a tight labor market, many small businesses are struggling to hold onto employees.
The younger generation
A recent study found that millennials at small businesses are the most eager to promote sustainable business practices.
Lending partners
In another sign that traditional banks are taking alternative lender seriously, JP Morgan Chase & Co announced it would partner with OnDeck Capital to launch a new line of small business loans.
Hashtag season
Finally, Google and Twitter have teamed up to promote small businesses via #SmallBizSquad, a new source for small business news, tips, and updates.
Small business tips from the headlines
- A business’s value isn’t just the money it makes—though that’s definitely a big part of it. You also need to factor in physical assets such as real estate and equipment, as well as non-physical assets such as a strong history and a loyal customers base. Find out more in Fit Small Business’s guide on how to value a business.
- The end of 2015 is closing in. What goals should you focus on for the end of the year?
- And with the end of the year come the holidays, which means peak season for many businesses. Here are a few quick tips on how to make sure you’re ready.
Michael X. Heiligenstein manages communications and marketing at Fit Small Business, a product and service review site for small businesses. Previously he has written and edited for the Saturday Evening Post and run his own small business as a marketing consultant and copywriter. In his spare time, he enjoys writing, playing guitar and learning new things.
