Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.
Looking for a small business loan? Try Amazon! The online retailer is in talks with Goldman Sachs to host lending. If you do get a loan, the market is looking better for buying or selling small businesses now — or consider investing in strategies to cut down absenteeism by providing childcare benefits to employees with children.
Banking giant Goldman set to get in on small biz financing game
Goldman Sachs and Amazon are teaming up to offer loans to small and medium-sized businesses using Amazon’s established lending platform. The partnership would allow the investment bank to further their access to SMB clients and continue their efforts to broaden their financial services products after their successful partnership with Apple to create the Apple Card.
The Number: $863 million. For their part, Amazon has already extended $863 million worth of loans to their sellers on their lending platform, using data that they have on these sellers to make quick decisions.
The Quote: “David Solomon, Goldman’s chief executive, told shareholders last week that the bank would boost returns by generating revenue from new sources such as consumer banking and wealth management.”
Small biz market finally rebounds after a year of decline
If you’re thinking of buying or selling a business, things are looking (slightly) up. After a year of declines in the small-biz market, new data indicates that transactions have rebounded over the past 3 months. Forefront on both buyers and sellers’ minds? Ongoing trade negotiations and Chinese tariffs. Additionally, rising minimum wages and the upcoming presidential election are factoring into SBOs decision making.
The Number: 4. After 4 straight quarterly declines, the market for buying and selling small businesses has rebounded over the past 3 months.
The Quote: “Owners have had to price companies conservatively to make a sale although their businesses are financially healthy.”
6 options for small businesses to expand childcare support
Until paid family leave becomes the national standard and safe, affordable and reliable childcare becomes more readily available, business owners and their employees will have to work together to find a way to meet each others’ needs and priorities. Consider these 6 options for supporting employees who must balance work with raising the next generation of workers.
The Number: $8.3 billion. U.S. working families lose out on $8.3 billion in wages due to unreliable childcare.
The Quote: “The daycare matter is more difficult for women than men. Some 59% of male employees are convinced everyone has a fair chance to move up at their company, versus 43% of female employees.”