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Curated articles for entrepreneurs, small businesses, and employers. Keep up with the latest news on local, state, and federal business trends.

Hot Off the Press

Returns Strain Retailers as Consumers Buy to Try
  • With the growth of e-commerce, customers have increasingly been “bracketing,” or purchasing the same product multiple times to test out different versions before returning most of the purchases
  • The practice can create major headaches for retailers,
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Business News Roundup, Dec. 3, 2021

A boost to oil production, the Treasury Secretary’s comments on inflation, elevated COVID-19 infections in Connecticut, and a delay to return-to-office plans at a major Hartford employer are among the top business news items this morning.

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News Archives

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Rental Robots Growing in Popularity in the Manufacturing Sector

  • Manufacturers considering robots to improve their processes are sometimes reluctant to invest in the technology
  • Robot rental options are gaining popularity as an alternative to purchasing the technology
  • Benefits include no up-front cost and flexible arrangements

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Accounting

Preparing Employees for Work From Home Expenses

  • Employees have been more likely to seek remote and hybrid work opportunities
  • While employees expect the arrangement to reduce their expenses due to a decrease in commuting costs,

ADP Updates Payroll Software with Small Business Focus

  • ADP upgrades its RUN platform, which focuses on small businesses
  • Platform assists with things like payroll management and human resources support, and update seeks to streamline services and prevent payroll mistakes
  • Nearly 700,000 small businesses use the platform

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Accounting

Taking Advantage of Tax Credits for Paid Leave Related to COVID-19

  • Employers can claim tax credits for paid leave offered between April 1 and Sept. 30 for reasons related to COVID-19
  • Qualifying purposes range from illness to caring for a child due to the closure of a school or child care facility
  • Credits of up to $12,000 per employee are available

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Accounting

SBA Expands Access to COVID EIDL Program, Allows Funds to Be Used for Debt Payments

  • U.S. Small Business Administration issues interim final rule expanding access to its COVID EIDL program
  • Loans are now available to applicants in hard-hit industries who have up to 20 locations and fewer than 500 employees per location
  • Other changes include the ability to use COVID EIDL funding to pay down debt

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COVID-19 Delta Variant Causes Concern for Three-Quarters of Small Business Owners

  • Survey from Alignable finds 76 percent of small business owners are concerned to some extent about the COVID-19 Delta variant
  • Share of business owners concerned about a potential government-ordered shutdown jumps to 47 percent
  • Majority of respondents say they’d prefer to hire a vaccinated applicant rather than an unvaccinated one

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Sold For a Buck: How You Can Gift Your Business Instead of Sell It

  • Recent business transaction in New Haven makes headlines for its ultra-low selling price
  • Gift and estate taxes still apply even if a business owner tries to hand off a business with generous conditions
  • Varying options for how a business transfer can occur

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Connecticut Sales Tax Free Week Begins Aug. 15

  • Annual tradition makes most clothing and footwear purchases under $100 exempt from Connecticut’s sales and use tax
  • Sales Tax Free Week has run for 21 years
  • Initiative aims to support back-to-school shopping and promote small businesses and retailers

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Accounting

Senate Proposal Looks to Revise Pass-Through Deductions for Small Business Owners

  • Chair of Senate Finance Committee introduces legislation that would make major revisions to pass-through deduction for small business owners
  • Deduction would be phased out starting at households earning $400,000 and not available to those earning $500,000 or more
  • Measure also seeks to expand eligibility for the deduction and simplify its calculations

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Accounting

How the Employee Retention Credit Can Help Businesses Cope With Higher Employee Wages

  • Businesses feeling pressure to increase wages and businesses to attract and retain workers, but smaller companies face greater challenges in doing so
  • Employee Retention Credit offers a way for companies to receive funds against employee wages that can go toward the expense of raising salaries
  • While business owners may believe it can only be claimed at tax time,
Accounting

PPP Forgiveness Deadline Approaching for Program’s Early Borrowers

  • Deadline to submit an application for forgiveness on a Paycheck Protection Program loan is approaching for certain borrowers
  • Borrowers must apply for forgiveness within 10 months of the end of the covered period of their PPP loan
  • Forgiveness applications can be submitted after the deadline,

Are Your Business Expansion Plans Too Ambitious?

  • Expanding your business too rapidly can create a number of problems
  • Disorganization, employee stress, and cash flow problems are among the issues that might pop up
  • Visit our Information Library to learn more about this topic

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What You Can Do If You Aren’t Able to Make Payroll

  • Cash shortages can strike a company for a variety of reasons, leaving you without enough money to meet payroll
  • For established companies facing a cash crunch
  • Visit our Information Library for the full article

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Business News Roundup, June 15, 2021

The resolution of a trade dispute over aircraft tariffs, falling retail sales, a sluggish return to work, a surge in wholesale prices, and a special session of the Connecticut House of Representatives are among the top business news items this morning.

Business News Roundup, June 9, 2021

A temporary end to negotiations on a federal infrastructure bill, record high job openings, how an oil company pivoted to be a renewable leader, an advance in the Connecticut budget,

Business News Roundup, June 4, 2021

White House concessions in infrastructure negotiations, a warning to businesses to improve their cybersecurity, a commitment to waste reduction in the offshore wind industry, and the expansion of a Connecticut youth employment program are among the top business news items this morning.

Survey: High Health Care Costs a Key Problem Preventing Small Business Growth

  • Small Business for America’s Future survey identifies challenges small businesses face due to health care costs
  • More than half of respondents say the cost of providing health coverage has inhibited growth potential
  • Respondents show strong support for a variety of potential solutions to reduce prescription drug costs

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Connecticut Senate Approves Set of COVID-19 Relief Measures For Small Businesses

  • Connecticut Senate unanimously passes a bill providing COVID-19 relief to small businesses
  • Legislation prohibits increases in employer experience ratings based on unemployment claims during the pandemic and also exempts PPE from sales and use taxes
  • Another provision requires Connecticut agencies to prepare a federal regulatory analysis for any proposed state regulations

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Business News Roundup, June 1, 2021

The official end of the Paycheck Protection Program, guidance on COVID-19 vaccine requirements, higher restaurant prices, a potential alternate Connecticut budget, and a boost to submarine building are among the top business news items this morning.

Should You Run Your Business With a Cash Only Budget

  • Small business owners can sometimes struggle with maintaining budgets
  • A cash-only model manages various company budgets through checking accounts
  • The model can give a better grasp of the company’s finances,
Accounting

Preparing for PPP Loan Forgiveness as the Program Winds Down

  • Borrowers will soon need to consider seeking Paycheck Protection Program forgiveness as the program winds down
  • SBA’s recommended forgiveness process includes maintaining close contact with the lender
  • Several documents are required to demonstrate how PPP proceeds were spent

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Business News Roundup, May 25, 2021

A call to divert COVID-19 aid from state and local governments, a business coalition to oppose tax hikes, additional funding for disaster response, businesses develop hybrid work policies,

Accounting

Food Producers Impacted by COVID-19 Are Eligible for USDA Assistance

  • USDA accepting applications for Coronavirus Food Assistance Program 2
  • Producers of several commodities can receive up to $250,000 to help offset economic disruptions occasioned by COVID-19
  • The application window will remain open until at least June 4

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Business News Roundup, May 21, 2021

A global minimum corporate tax rate proposal, PPP endgame, growth in the steel industry, a Fed report on the impact of supplemental unemployment, a potential shift from vertical axis wind turbines,

Business News Roundup, May 20, 2021

A potential revision to fed policy, alternate infrastructure proposals, falling jobless claims, small business labor struggles, strategies in meeting a returning surge of customers, an agreement between offshore wind and commercial fishermen,

Business News Roundup, May 19, 2021

The Treasury seeks to sell business leaders on the White House’s infrastructure plan, a hearing on the role of CDFIs and MDIs, a business coalition to find ways to assist workers with child and elder care,

Business News Roundup, May 17, 2021

A counterproposal deadline for the White House’s infrastructure package, a Mississippi River bridge shutdown further strains supply chains, child tax credits roll out this summer,

Business News Roundup, May 14, 2021

White House meetings with business leaders, a long-term focus on economic policy, flat retail spending, lighthouses for sale, and a call for federal support for the State Pier project in Connecticut are among the top business news items this morning.

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