Welcome to the Small Business Run Down. Each day, we bring you stories that impact small business owners and their workforce.
November has arrived. Time to start planning the company holiday party! If you need a reason to celebrate today: gig work is here to stay … at least for the next 5 years and October brought small manufacturing victories in the midwest. Have you submitted your application to Google’s Small Business Academy yet?
Gig work set to grow faster than all other sectors through 2025
By all indications, the gig economy is here to stay. A study of the American workforce found that the Temporary Help Services sector will expand to 3.2 million jobs by 2025. The study’s data comes from both state and federal sources and found that 42% of temporary workers pick up at least 2 gigs per week.
The Number: 8.5%. The Temporary Help Services sector is set to grow by 8.5% from 2019 to 2025, compared to the forecasted 6% for all other jobs in the U.S.
The Quote: “Gig employment will continue to grow in popularity as more companies choose to reduce fixed labor costs to stay nimble and workers gravitate toward flexible work experiences that fit their lifestyles.”
Midwest manufacturing makes modest climb in October
Hurray for the Heartland! New data for the month of October shows that manufacturing in Minnesota and 8 other central states grew ahead of the rest of the country. 2019 has been a difficult year for manufacturing and poor showings for August and September alerted economists to the possibility of a recession in the sector.
The Number: 52.6. Creighton’s Mid-America Business Conditions Index for Minnesota and 8 other states jumped to 52.6 in October. Anything below 50 indicates that the economy is contracting.
The Quote: “For [all of] 2019, the Mid-America economy has been expanding at a pace well below that of the nation. The trade war and the global economic slowdown have cut regional growth to approximately one-half that of the U.S.”
Google hosts first-ever “Small Business Academy” to teach e-commerce skills
Amazon announced today that the e-commerce giant is hosting a series of in-person classes and seminars to support small business sellers who operate in their marketplace. The first event is scheduled to take place outside near Memphis, in Southaven, Mississippi and is a free event to teach sellers how to start and grow e-commerce businesses.
The Number: $15 billion. Amazon cares about the little guys … and they’re spending $15 billion helping third-party sellers in 2019 to prove it.
The Quote: “We’ve heard from many of them that they want help and guidance to take advantage of the power of the internet and digital business, particularly in rural areas.”