Top Stories
Small business owners share interpretations of American Dream in new study
Small business owners shared their visions of the American Dream in a survey hosted by web hosting platform GoDaddy, revealing intriguing differences between age demographics. The study sourced responses from 1,000 small business owners across the U.S., with researchers paying particular attention to differences between generations. Participants were presented with multiple-choice questions that aimed to identify their personal interpretations of the American Dream, the motivators and steps needed to achieve this vision and the perceived challenges to finding entrepreneurial success. Read More
GDP estimate revised as economic growth slows in Q2
A revised estimate provided by the U.S. Department of Commerce indicates that the pace of economic growth was slower than originally calculated, a potential signal that the Federal Reserve’s rate hikes are having their intended impact on the nation’s finances. The Commerce Department adjusted its estimated gross domestic product increase from 2.4% to 2.1% for the second quarter to reflect more accurate data. Consumer and government spending rose more than previously calculated, but steeper declines in business investments offset these increases to drive the total rate of economic growth down. Read More
SBA to host 10th annual National Veterans Small Business Week
The U.S. Small Business Administration (SBA) announced that the 10th annual National Veterans Small Business Week (NVSBW) will be held from October 30 to November 3, 2023. In honor of NVSBW, the SBA will host various in-person and virtual events to connect with two million Veteran-owned small businesses in the United States. Administrator Isabella Casillas Guzman stated in a press release, “This year marks our 10th celebration of National Veterans Small Business Week, but America’s veteran entrepreneurs have positively impacted our communities and the nation’s economy for decades.” Read More
New Biden proposal could bring overtime pay to more than 3.6 million
According to a newly U.S. Department of Labor proposed regulation, 3.6 million salaried employees will become eligible for overtime pay. The proposal ensures that most salaried employees, earning less than $55,000 annually. would receive at least time-and-a-half in overtime compensation. The current threshold is $684 a week, or roughly $35,600 a year, which was put into place by the Trump administration in 2019. Read More
ASBN, from startup to success, we are your go-to resource for small business news, expert advice, information, and event coverage.
