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Improving the Effectiveness of Proactive Customer Service

  • Proactive customer service allows companies to bring up matters with customers before they reach out to the company about them
  • However, businesses should also be prepared for the likelihood that customers will still follow up on certain unanswered questions
  • Tips on how businesses can effectively implement proactive outreach
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New COVID-19 Small Business Relief Passes House: Who Qualifies?

  • The House has passed a bill to replenish the Restaurant Revitalization Fund and create a new COVID-19 relief program for businesses continuing to suffer severe pandemic-related revenue losses
  • The legislation primarily aims to support 177,000 food service businesses that did not receive grant funds under the initial RRF funding round
  • The Senate, which reconvenes on April 25, has received the legislation
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OP-ED: As Crypto Enters the Startup World, Startups Should Walk Before Running

  • Cryptocurrency has been gaining a foothold in employers’ compensation and retirement benefits
  • Businesses should be mindful of limits on crypto compensation placed by federal, state, and local wage laws
  • An op-ed piece from a Connecticut law firm
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SBA Debuting Expo to Promote Small Businesses Using SBIR/STTR Programs

  • Small Business Administration debuts America’s Seed Fund Startup Expo 2022
  • Virtual event will showcase the SBIR/STTR programs to assist small businesses with research and development for innovative technologies
  • Small businesses participating in the program can apply to give a presentation at the event
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How Workplace Rituals Can Improve Company Culture and Employee Retention

  • Recent research finds a 16 percent increase in how likely employees are to find their work meaningful when their company offers group bonding exercises
  • Rituals can recognize milestones and accomplishments, or take place more regularly
  • While there are plenty of classic rituals, companies can also be creative in making a unique experience
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SBA Increases Small Business Size Limits, Expands Industries for WOSB Federal Contracting

  • More than 58,000 companies are now estimated to qualify as small businesses under a Small Business Administration update to its receipts-based definitions
  • The bulk of these firms are classified as agriculture, forestry, fishing, and hunting; mining, quarrying, and oil and gas extraction; utilities; and construction
  • The SBA has also made a major expansion of the industries eligible for federal government set-asides under the Women-Owned Small Business Federal Contracting Program
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SBA Again Seeking Community Advantage Lenders, Increases Loan Cap

  • Small Business Administration announces changes to its Community Advantage loan program
  • Program, first introduced in 2011, is designed to improve credit access to low-income borrowers and small businesses in underserved communities
  • Changes include lifting a moratorium on new lender applications to participate in the program, an extension of the program through September 2024, and raising the cap on the amount that can be borrowed through the program
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