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Small Business Lending Bill Looks to Improve Transparency in Fintech, Alternative Loans

  • Small Business Lending Disclosure Act of 2021 aims to improve disclosure and transparency protections for small business lending
  • Sponsors reference online and alternative lenders, which have grown in popularity but may mask unfavorable terms and fees
  • Legislation would require small business lenders to provide several pieces of information to borrowers to help them make an informed decision
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Customer-Facing Workers Are More Likely to Quit; Rude Holiday Shoppers Could Make It Worse

  • Survey finds that retail workers believe customers treat them worse during the holidays
  • This belief predates the COVID-19 pandemic, but may raise concerns for customer-facing businesses suffering from labor shortages
  • How to responsibly stand up for your employees to improve morale and loyalty
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Adaptability Can Help Small and Midsize Businesses Remain Competitive Amid Ongoing Challenges

  • Small and midsize businesses can often face greater challenges than larger companies in facing challenges such as those brought on by the COVID-19 pandemic
  • However, the resiliency and agility enjoyed by these companies can also help them adapt to crises
  • Tips on how businesses can improve their adaptability in facing new challenges
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Despite Labor Shortages, Few Firms Place Priority on Employee Retention

  • Poll finds just 16 percent of business leaders name employee retention as their top priority, despite labor challenges
  • Customer satisfaction and financial performance are top priorities
  • Only a tiny share of respondents say they rely on employee input in their strategic and operational decision-making
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Business News Roundup, Nov. 29, 2021

A lack of restrictions in response to a new COVID-19 variant, minimal market impact from this variant, troubles facing Connecticut cannabis entrepreneurs, and the development of an innovative new business district in Hartford are among the top business news items…

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What Changes Have Been Made to Connecticut’s Business Registration System?

  • Governor Ned Lamont and Secretary of State Denise Merrill announce updates to Connecticut’s business registration system
  • Entrepreneurs can now register a business directly through the state’s business portal at Business.CT.gov
  • Processes such as business filings can also be handled online through the portal
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Small Business Saturday Returns This Year With Several New Initiatives

  • Small Business Saturday returns for 12th year on Nov. 27
  • American Express announces several new initiatives to support the annual effort to support local enterprises
  • U.S. Small Business Administration encourages the effort and highlights the impact of small businesses
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Employee Retention Credit Ended Early Under Infrastructure Bill

  • As part of the Infrastructure Investment and Jobs Act, the Employee Retention Credit will be terminated early
  • Businesses could originally claim the credit against employment taxes through the end of the year, but can now only do so up to the third quarter of 2021
  • Internal Revenue Service expected to release updated guidance for businesses whose accounting practices anticipated claiming a credit in the fourth quarter
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SBA Advises Small Businesses Not to Delay Filing Applications for COVID EIDL Programs

  • The U.S. Small Business Administration’s COVID EIDL loan program will close to applications on Dec. 31
  • The SBA warns that businesses should submit applications as soon as possible due to certain processing limitations
  • Billions of dollars remain available in the COVID EIDL programs, but more than $30 billion was rescinded under the recently passed infrastructure bill
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