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Small Businesses Can Take Advantage of Favorable SBA Enhancements Through Sept. 30

  • Enhancements of loans through U.S. Small Business Administration in place through Sept. 30
  • Changes include higher loan guarantees and lending caps
  • The SBA will also cover up to $9,000 in monthly principal and interest payments and fees for up to three months
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Job Openings Hit Record 10.1 Million at End of June

  • Employers post a record 10.1 million job openings at the end of June
  • Job postings most common in professional and business services, retail, and accommodation and food service
  • Quits rate ticks up to 2.7 percent
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Attempt to Replenish Restaurant Revitalization Fund with $48 Billion Falters in Senate

  • Effort to add $48 billion to Restaurant Revitalization Fund fails due to objection to pass the legislation by unanimous consent
  • Bill, along with a separate one to replenish the program with $60 billion, goes before committee
  • The SBA received more than 278,000 applications for the program, but was only able to fund about 101,000 of them
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Businesses Are Increasingly Disclosing Information on Climate Change Risks to Shareholders

  • A majority of public companies have ramped up their disclosures on climate change issues following 2010 guidance from the SEC, according to a recent survey
  • Nearly nine in 10 respondents favor scaling disclosure requirements based on company size and type
  • Respondents also raised issues with disclosure frameworks
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Business News Roundup, Aug. 9, 2021

A student loan pause, a disconnect between job openings and candidates, sluggish recovery for movie theaters, higher average pay in restaurants and grocery stores, a long-term care vaccine mandate in Connecticut, and a sharp drop in Connecticut's unemployment numbers are…

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SBA Updates Guidance on COVID EIDL Program

  • U.S. Small Business Administration issues updated guidance on its COVID EIDL program
  • Program helps businesses and nonprofits that suffered economic losses due to COVID-19 with funds for working capital and operating expenses
  • Applications are being accepted through Dec. 31
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Entrepreneur Innovation Awards Pitch Contest Returns, Applications Due Sept. 1

  • CTNext accepting applications for its Entrepreneur Innovation Awards contest
  • The competition is traditionally held three times a year and is slated to return to an in-person event this fall
  • All startups that can present a “clear deliverable milestone” to advance their company are eligible to participate
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Pay Transparency May Push Wages Lower, Harvard Research Suggests

  • Pay transparency has been promoted as a way to promote wage equity and reduce worker disputes
  • Research from a Harvard professor says the practice can have the effect of pushing wages lower by giving employers an edge in salary negotiations
  • Worker wages fell an average of 2 to 3 percent in private sector companies with pay transparency rules between 2000 and 2016
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U.S. Jobs Soar by 943,000 in July; Unemployment Rate Falls to 5.4 Percent

  • U.S. economy adds 943,000 jobs in July, with the leisure and hospitality sector again accounting for the largest share of new employment
  • Unemployment falls half a point to 5.4 million
  • Labor market remains below pre-pandemic levels, with recent factors such as early retirements and the spread of the COVID-19 Delta variant raising concerns
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Business News Roundup, Aug. 6, 2021

Approval for an amendment to make the Minority Business Development Agency permanent, more benefits offered by restaurants, a Connecticut county reaches high risk for COVID-19 transmission, and a challenge to a recent permit approval for development at a Connecticut port…

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