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Leveraging Employee Strengths When Setting Workplace Goals

  • Goals that build on strengths can yield more successful results than those seeking to develop skills or address faults
  • This approach can have a variety of benefits, including reducing absenteeism and employee turnover
  • Ensuring that employees know what is expected of them is a key step
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Business News Roundup, Jan. 20, 2022

White House support for tighter monetary policies, new COVID-19 executive orders in several states, a 15-year high in existing home sales, an increase in initial unemployment claims, a clarification of rules on Connecticut recreational marijuana businesses, and the impending expiration…

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Should Your Paid Leave Program Apply to School Closures?

  • CEO of women’s workplace and employment resources calls for businesses to offer paid leave for child care disruptions
  • Child care reliability has become more tenuous during the COVID-19 pandemic, as infections can create prolonged interruptions
  • Some small businesses can be exempt from providing paid sick leave or expanded family leave for COVID-19 related school or child care closures
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SBA Lending in Connecticut Sees Major Increase in FY 2021

  • Connecticut District Office of the U.S. Small Business Administration releases annual report for the 2021 fiscal year
  • Report highlights a major boost to the SBA’s traditional loan programs, including 7(a) and 504 lending
  • A total of 51,488 small businesses in Connecticut received $523.8 million in government contracts
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Encouraging Your Remote Employees to Create a Schedule

  • Remote and hybrid work arrangements can lead to employees working more irregular hours
  • This method can potentially disrupt the work-life balance and lead to disconnects between team members’ schedules
  • Tips on encouraging employees to develop remote work scheduling that works well for themselves and the business
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Research Suggests That Slow Growth is Key to Success of Local Economic Revitalization Efforts

  • Researchers look at two approaches for fostering entrepreneurship to lift up local communities
  • Study concludes that traditional business accelerators often have a minimal impact on supporting local economies due to the goal of rapidly scaling up growth
  • An alternative approach encouraging the leverage of local resources results in smaller scale growth, but a deeper impact on the community
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Commerce Department Seeking Internet of Things Experts for Advisory Board

  • Commerce Department puts out call for nominations for Internet of Things Advisory Board
  • Members of 16-person board will serve two years
  • Board will advise a federal working group on IoT issues
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Business News Roundup, Jan. 19, 2022

A presidential speech on economic issues, booming investment in tech startups, anticipated price pressures in the oil market, a net-zero emissions goal from a major energy company, data science programs at Connecticut higher education, a potential rematch in Connecticut's gubernatorial…

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Study: Majority of PPP Funds Buoyed Business Owners and Shareholders Rather Than Employees

  • Report from the National Bureau of Economic Research finds that just 23 to 34 percent of Paycheck Protection Program funds went to preserving jobs, with the remainder buoying business owners and shareholders
  • Researchers say the United States lacked the administrative capacity to offer more targeted financial support without slowing delivery of aid
  • NBER suggests building capacity for methods such as work sharing and liquidity for smaller firms to prepare for the next large-scale economic crisis
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Small Businesses Planning Expansion of Digital Payment Options, with 1 in 4 Willing to Accept Crypto

  • Visa survey finds that 82 percent of small businesses expect that they will accept digital payments this year
  • About one in four say they will begin taking cryptocurrency payments
  • 46 percent of consumers say they plan to start making digital payments more often this year
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