Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.
Small Business News Highlights for August 13:
- Unemployment claims dip below 1 million for first time in 5 months
- Checking in on Black SBOs since the death of George Floyd
- Apple sues small business over pear logo
Unemployment claims dip below 1 million for first time in 5 months
“Another larger-than-expected decline in jobless claims suggests that the jobs recovery is regaining some momentum But with a staggering 28 million workers still claiming some form of jobless benefits, much labor market progress remains to be done.”
The economy hit a milestone this week when the number of new unemployment claims dropped below 1 million for the first time in 5 months.
Despite the drop, more than 25 million Americans still receive unemployment benefits of some type, though the federal supplement of $600 per week has ended without being reauthorized by Congress.
Checking in on Black SBOs since the death of George Floyd
“The racial disparities in bank relationships prior to COVID-19 detailed here raise structural questions about the presence and functioning of banks in communities of color, questions that have heightened significance when banks are relied on to administer federal, taxpayer-supported relief programs.”
Since George Floyd died while in police custody in late May, the U.S. has looked at systemic inequalities with a heightened level of awareness.
In general, Black-ownded businesses have been hit harder by the COVID-19 pandemic while also being less likely to receive support from the federal government and lending institutions. A recent study found that Black SBOs were more likely than their White peers to report staying open during the pandemic, and were also slightly more likely to say report that they hadn’t yet reopened since restrictions eased.
Overall, the research indicates that not much has changed in the U.S. business community after 3 months of soul searching and that Black business owners struggling before the death of George Floyd are likely to still be struggling today.
Apple sues small business over pear logo
“Apple has opposed small businesses with fruit-related logos by taking costly legal action even when they look nothing like Apple, or are not in the same line of business.”
Apple has filed a lawsuit against a recipe organization app startup, claiming that the company’s pear-shaped logo can be confused with the tech giant’s iconic apple logo.
Prepear, a 5-person company that developed an app to help home cooks organize, is fighting back on social media, asking people to support their court battle against Apple. Take a look at the logo and decide for yourself if you might get confused and accidentally not buy the newest iPhone.