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For Young Entrepreneurs, Student Loans Create a Persistent Obstacle

  • Young entrepreneurs with student loan burdens may opt to seek work with an existing company instead of starting their own
  • Heavy debt can not only be a restricting factor, but also limit the ambitions of entrepreneurs who decide to take the leap
  • President Joe Biden has pledged to forgive $10,000 in student debt per borrower, though there has not yet been any action on this promise
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Connecticut State Pier Information Session to Outline Procurement Opportunities

  • Kiewit, the construction manager for State Pier project in New London, holds online virtual information session this week
  • Numerous procurement opportunities are available as work is expected to get underway on a major transformation of the deep water port this spring
  • Project estimated at $157 million aims to improve heavy-lift capabilities and support offshore wind operations
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Legislation, Grant Aim to Strengthen Connecticut’s Workforce Development

  • Governor Ned Lamont announces plans for increasing Connecticut’s workforce development offerings
  • Includes new training program for industries with high labor demand
  • Lamont also announces $10 million grant for workforce development in IT and manufacturing
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Business News Roundup, January 25, 2021

COVID-19 vaccination challenges, a Buy American executive order, growth in manufacturing and SPACs, and a variety of Connecticut items are included in this morning's roundup of business news. National The supply of COVID-19 vaccines could be a hurdle in reaching…

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SBA Bridge Loan Can Help Small Businesses Weather Revenue Losses, But Program Closes in March

  • SBA’s Express Bridge Loan Pilot Program allows borrowers to quickly access up to $25,000
  • Borrowers can choose a term loan or use it as a bridge for EIDL funds
  • Program was designed for disaster relief, but was extended to all SBA Express Lender clients due to the COVID-19 pandemic
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Want Happier, More Productive Employees? Have Them Take a Lunch Break

  • Workers often skip a lunch break due to concerns that their manager will penalize them or think they’re unproductive
  • Several studies have shown that dedicated lunch breaks are associated with stress reduction, greater productivity, and other benefits
  • Employers can lead by example by taking visible breaks or encouraging work respites
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Biden Administration Turns to OSHA to Issue Guidance on COVID-19 Worker Safety Guidance

  • Among the COVID-19 related executive orders issued by Joe Biden is a commitment to use “science-based guidance” to reduce infections in the workplace
  • OSHA given two weeks to issue revised guidance to employers on workplace safety
  • Any recommended emergency temporary standards, such as mask requirements, to be issued by March 15
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Business News Roundup, January 22, 2021

Biden's economic and COVID-19 response strategies take shape, higher commodities prices could benefit farmers but put a crunch on consumers, Connecticut seeks more COVID-19 vaccines, higher state jobless numbers, and more bank branch closures are among the key items in…

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Biden Executive Orders Target Environmental and Regulatory Rollbacks of Trump Era

  • President Biden issues 15 executive orders on his first day in office, with additional orders on COVID-19 response issued soon after
  • Emphasis placed on environmental issues and regulations, with a revocation of several Trump era actions
  • Biden also makes commitments to racial equity, non-discriminatory practices, immigration reforms
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Virtual Reality Emerges as Tool for Companies to Develop Employees’ Soft Skills

  • Training in soft skills such as communication, leadership, and empathy have become more difficult during remote work arrangements
  • Virtual reality allows for an active rather than passive method of training
  • This type of training can be cheaper, faster, and more effective than in-person training
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