Welcome to the Small Business Run Down. Each day, we bring you stories that impact small business owners and their workforce.
Women’s Small Business Month is winding down, so let’s take a look at some trends from this year. Plus, SBA assistance for disaster preparedness and how the trade war with China is impacting Halloween. Spooky!
Women in Business Trends for 2019
A recent survey of some 2,7000 female small business owners found some interesting trends among women entrepreneurs this year. Notably: a significant increase in female ownership of health, beauty, and fitness businesses and higher levels of distrust among women entrepreneurs when it comes to politicians’ ability to solve economic problems.
The Number: 72%. When it comes to higher learning, 72% of female small business owners have an advanced degree, compared to 64% of their male counterparts.
The Quote: “The profitability of woman-owned businesses is up by 3 percent from the prior year but still lags behind male-owned businesses.”
SBA to host online disaster preparedness and disaster recovery seminar
Hurricanes, fires, earthquakes, heavy rains. When it comes to natural disasters and other so-called “Acts of God,” small businesses across the US are not always as prepared as they should — or want to — be. The SBA is hosting an online seminar next week, on October 30th, to help the nation’s small businesses prepare for natural disasters.
The Number: $0. The seminar is free! So you have no excuse not to register!
The Quote: “An estimated 25% of businesses don’t open again after a major disaster.”
Halloween costumes latest victim in trade war with China
Purveyors of blood, guts, gore and banana costumes are some of the latest casualties of the ongoing trade tensions with China. Retailers large and small have had to make a scary decision when it comes to spooky costumes: raise prices or accept lower profits. While big box stores are better equipped to absorb the cost of the tariffs or find sources outside of China, mom-and-pop operations are having a harder time this season.
The Number: $8.8 billion. Analysts estimate that consumers will spend $8.8 billion this year in pursuit of a spooktacular Halloween, down slightly from $9 billion in 2018.
The Quote: “We’re not in the position to go find another country to manufacture our costumes.”