Industry News
Small Business
Top stories summarized by our editors
7/13/2020

Some banks say they won't keep profits from fees on Paycheck Protection Program loans to small businesses. Here's a roundup of major US banks' plans for the money, which amounted to hundreds of millions of dollars for some banks.

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Forbes
7/13/2020

Inspired Capital founder Alexa von Tobel has learned the value of providing meaning for employees while working from home during the coronavirus pandemic and the importance of being an authentic leader. "Leading with a sense of purpose, flexibility, authenticity, and vulnerability will prepare you and your company for whatever the remainder of 2020 throws our way," von Tobel writes.

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Inc.
7/13/2020

Michael Lofthouse, CEO of tech startup Solid8, has resigned after a video was posted on Instagram showing him directing racist comments toward a family at a restaurant. Lofthouse says he has joined an anti-racist program and that his comments were "deeply inappropriate."

7/13/2020

Russell Wiggins started Russell's Gourmet Coffee after seeing an opportunity to compete for beverage service contracts. "This led me to learn so much more about the coffee industry, the beans, and the business," he says. "As a result, I became fascinated with the entire industry and I was hooked after that."

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Black Enterprise
7/13/2020

Members of the Forbes Coaches Council outline the ways small-business owners can raise capital to fund their companies. Among their tips are to save up for several months of expenses and to borrow money to pursue investment opportunities rather than to pay the bills.

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Forbes
7/13/2020

Various factors might have discouraged some small-business owners from applying for Paycheck Protection Program financing, writes Maurie Backman. She cites issues such as loan caps and requirements for how the money has to be spent for the loans to be forgivable.

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The Motley Fool
7/13/2020

The combination of Uber and Postmates will be the second-largest third-party delivery company in the US after the merger closes in the first quarter of 2021. As of May, Uber Eats had 22% of the delivery market, and Postmates had 8%, according to Second Measure.

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QSR magazine
7/13/2020

Yum Brands has hired Cameron Davies as chief data officer, a new role in which he will oversee data engineering and data science teams. Davies will also focus on modernizing the company's data capabilities.

7/13/2020

Secret Recipe Fries have replaced potato wedges on KFC's permanent menu. The brand is promoting the fries by offering them for one day at just 30 cents -- the same price that KFC fries sold for 50 years ago.

7/10/2020

Small business owners should monitor travel numbers available through the Transportation Security Administration and Institute of Supply Management manufacturing and service reports to gauge the US economy's health, writes Gene Marks. The National Federation of Independent Businesses' monthly Small Business Optimism Index can also indicate whether the economy is recovering, Marks writes.

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The Guardian (London)