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SBA Debuts PPP Direct Forgiveness Portal For Smaller Loans

  • U.S. Small Business Administration introduces direct forgiveness portal for Paycheck Protection Program borrowers with loans of $150,000 or less
  • Borrowers can begin submitting applications on Aug. 4 as long as their lender has opted into the portal
  • More than 600 banks have already signed on to allow smaller borrowers to directly submit applications
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Want to Attract Young Workers? Perks Alone Won’t Be Enough

  • Workplace perks have long been seen as an incentive for attracting younger workers
  • Recent research suggests that workers between the ages of 21-34 are now more likely to seek meaning in their work
  • Leaders and managers can pursue effective communication to help foster these ideals
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Analysis Suggests Employees Are More Likely to Return to Work in Areas With Higher Vaccination Rates

  • Analysis by payroll platform Gusto finds that among states that ended federal supplemental unemployment benefits early, headcounts increased much faster in states with higher vaccination rates
  • States that ended benefits early also saw increased hiring of workers over the age of 25, while those keeping the benefits relied more on teenage workers
  • Economists have suggests that health care concerns and other issues have played a larger role than generous unemployment benefits in keeping people from returning to work
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TikTok Throwing Nationwide “Small Biz Block Party”

  • TikTok debuting a Small Biz Block Party initiative this year
  • 20 events take place between Aug. 5 and Nov. 18, primarily focused on specific states or regions
  • Attendees receive guidance on creating content and using TikTok to extend their reach
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Business News Roundup, July 28

Revised CDC guidance on mask wearing, expected Federal Reserve monetary policy changes, uncertainty in return to work timetables, higher wages for low-skilled labor, and a Connecticut review of CDC suggestions are among the top business news items this morning. National…

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Shuttered Venue Operators Grant Reaches Milestone, Remains Open to Applications

  • U.S. Small Business Administration announces that its Shuttered Venue Operators Grant program has surpassed 10,000 awardees, with $7.5 billion in grants approved
  • Program was established to provide financial relief to cultural organizations that suffered severe revenue losses during the COVID-19 pandemic
  • Funding remains available, so the SBA is taking new applications and planning to offer supplemental grants beginning on Aug. 23
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Employees Increasingly Likely to Take Vacation Time, Survey Finds

  • After COVID-19 disruptions in 2020, a worker survey finds that nearly four in five employees are planning to use more vacation time this year
  • 62 percent of respondents said they plan to check in at least occasionally during their break
  • Most workers will continue to check into work during their vacation, often to avoid having a bigger workload when they return
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Yelp Report Shows Strong Business Growth, Correlation Between Vaccines and Consumer Activity

  • Yelp Economic Recovery Report sees major increase in business reopenings in the second quarter of 2021
  • New business applications also rise, hitting fastest pace since 2004 for period between June 2020 and May 2021
  • Report also identifies stronger increase in consumer activity in populations with greater increase in population vaccinated against COVID-19
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Workers Looking to Employers to Adopt AI to Improve Their Productivity

  • Survey finds majority of workers think artificial intelligence improves their workplace performance and are urging employer to deploy more AI technology
  • Findings mark an easing of concerns that AI could result in job losses
  • About half of respondents see AI as improving their decision-making, accelerating time to insights, or enabling them to achieve a better work/life balance
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Business News Roundup, July 27, 2021

The latest IMF economic forecast, durable goods orders, a slow recovery for business travel, reticence on vaccine mandates in Connecticut, and the impact of recent bank layoffs in Connecticut are among the top business news items this morning. National The…

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