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Connecticut Faces Dilemma on Controlling COVID-19 and Preserving Economy

  • Enforcement of Connecticut’s rigorous COVID-19 rules has helped maintain consistently low infection rates, but this also has the potential to harm the state’s economy
  • Hotels and lodging have not been asked to screen guests, though several have done so voluntarily
  • Health commitment has been used in tourism marketing, but pitches are limited to neighboring states
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Companies Reassess Productivity Expectations as Remote Work Expands During Pandemic

  • Remote work during the COVID-19 pandemic has highlighted inefficiencies with the traditional office model
  • More casual workplaces emerge, with greater understanding for employee circumstances among both employers and clients
  • Automation likely to accelerate as a result of remote work
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Clean Energy Incentives Allow Remote Employees to Offset Higher Home Energy Use

  • Homeowner electricity bills are spiking as remote work and other COVID-19 factors contribute to greater energy usage
  • Companies have sought ways to offer clean energy incentives to employees as part of their employee benefits
  • Employers have also been covering some costs associated with home offices
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Small Businesses Feel Crunch Under Slowdown of USPS Mail Service

  • Small businesses rely heavily on the U.S. Postal Service for shipments
  • Delays occasioned by the pandemic and recent operational changes under the Postmaster General result in extra fees, forced refunds, and harm to reputation
  • E-commerce groups push back against proposed hikes to shipping prices
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PPP Loans Can Add Complexities When Selling a Business

  • The Paycheck Protection Program and other COVID-19 relief measures may impact the purchase price when selling a business
  • Changing PPP rules, along with the upcoming presidential election and uncertainty over future relief measures, add complications
  • Pandemic also presents challenges to buyers and sellers seeking to do their due diligence
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Steps to Take When Moving Your Business Online

  • Many businesses have moved to adopt e-commerce after physical locations shuttered or restricted due to COVID-19 pandemic
  • Online retail offers a continuing revenue stream and opportunities for more individual connections with customers
  • Transition requires business owners to determine what they’ll sell online and make sure their customers are aware of the offering
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Should Your Startup Be An Online-Only Business?

  • With shutdowns related to the COVID-19 pandemic putting major pressure on brick-and-mortar businesses, entrepreneurs may consider whether their company can feasibly operate with just an online presence
  • Advantages include minimal overhead, lower operating costs
  • Business owners must also be aware of customer expectations and greater competition in online-only sales
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Supplier Diversity Receiving More Attention Amid Pandemic, Social Justice Movements

  • Large companies with supplier diversity programs support a variety of companies, including small businesses and those run by women, minorities, or LGBTQ owners
  • Supplier diversity enhances a large company’s reputation while broadening the economic opportunities for partnering businesses
  • Diversity commitments have been receiving more attention during the COVID-19 pandemic as well as social justice movements
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How Family Time During Remote Work Can Improve Your Business Strategy

  • Having family members present while working remotely can significantly distract you from your workflow, but there are advantages to this setup as well
  • Spouses, children, and others in the household can be a surprisingly valuable resource in brainstorming and creativity
  • Spending some time with family can be a good way to spend a much-needed break
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Employer Contributions to Retirement Plans Remain Steady During Pandemic

  • Nearly nine out of 10 employees with a 401(k) retirement savings plan received an employer match in the past year
  • Just 11 percent of employers suspended their 401(k) match due to the COVID-19 pandemic, and about half of them intend to restore the match as soon as economic conditions allow it
  • Employee contributions to retirement plans have been largely unaffected by the pandemic
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