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In Face of Widespread Resignations, Some Small Business Sectors See Growth

  • Survey finds that small businesses in certain sectors have grown despite COVID-19 and labor challenges
  • IT, education, and professional services see significant growth in recent months
  • Small businesses overall have faced greater challenges in recovering from the pandemic, with an estimated 200,000 closing their doors
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Business News Roundup, Sept. 16, 2021

An unexpected boost in retail sales, a slight increase in jobless claims, small building supply businesses benefit from a construction boom, an extended deadline for a port project in Connecticut, and potential benefits to Connecticut companies from a U.S.-U.K.-Australia alliance…

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Treasury Report Calls for Improved Child Care Access to Help Promote Economic Growth

  • Treasury Department releases report on current state of child care in the United States and the challenges facing the industry and working parents
  • Report argues that investment in child care is essential to support the nation’s economic growth
  • White House has floated several ideas to improve child care access, including funding for states to improve their child care networks
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Governor’s Innovation Fellowship Seeking Connecticut Business Partners, Graduates for Spring 2022 Cohort

  • CTNext taking applications for its spring 2022 cohort of the Governor’s Innovation Fellowship program
  • Participants get an opportunity to be matched with a Connecticut employer in the tech-based industry and receive other benefits, including a $5,000 grant
  • The initiative launched in 2019 and was expanded statewide following a successful pilot program
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NFIB: Small Business Optimism Improves in August Amid Ongoing Hiring Challenges

  • National Federation of Independent Business finds slight increase in small business optimism in August
  • Uptick comes despite headwinds such as hiring challenges and uncertainty about future economic strength
  • Business owners generally more likely to expect to hire workers, make capital expenditures, and see higher real sales
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Some Connecticut Communities Taking Steps to Bar or Restrict Recreational Marijuana Sales

  • Several Connecticut towns and cities have established ordinances to prohibit recreational marijuana sales
  • A law passed earlier this year legalizes recreational marijuana use and possession in Connecticut, with retail sales expected to begin in 2022
  • Some municipalities are restricting but not banning recreational marijuana establishments
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Employee Stress Hits Record Highs in Gallup’s State of the Global Workforce Report

  • Gallup report on workforce trends associates elevated stress with impact of COVID-19 on workplace culture
  • American respondents report greater engagement at work, but also experience more negative emotions compared to global respondents
  • Gallup says the results show the need for companies to focus on improving employee well-being and engagement
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Christmas Comes Early: Retailers Work to Acquire Stock, Promote Shopping Early as Supply Disruptions Persist

  • Retailers working to acquire stock early amid ongoing supply chain disruptions leading into the holiday shopping season
  • Consumers encouraged to start shopping early to avoid delivery delays
  • Holiday spending expected to increase considerably due to higher consumer demand and a resumption of in-store shopping
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Federal Reserve Issues Paper on State of Fintech, Community Bank Relationships

  • Federal Reserve issues paper exploring the current state of relationships between community banks and financial technology companies
  • Report covers the benefits and challenges of such partnerships, as well as the key factors for success
  • Document is a follow-up to previous diligence on how banks can ensure due diligence when forming partnerships with fintechs
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