You bet, small business owners are nervous
You bet, small business owners are nervous
The MBTA is having trouble hiring too.
So yesterday the agency announced plans to eliminate one out of every 20 scheduled bus trips because it has too few drivers, reports Grant Welker at the BBJ.
“These service changes are not a cost-control measure,” MBTA GM Steve Poftak said. “The MBTA is budgeted for a full level of service and ready to add back services when we have hired and trained new bus and train operators.”
The Green, Blue, Red and Orange lines won’t be affected. Here’s the route changes, effective Dec. 19.
You bet, small business owners are nervous
One in four retailers in a national survey said they could face financial failure in Q4 unless consumer shopping habits change dramatically.
And 40% of small retailers told Alienable that they could not afford to pay their rent in full and on time last month, a jump of 7% since the month before.
Access to supply chain and a labor shortage have been plaguing merchants for months. Inflation is the latest challenge, with 48% reporting they're uncomfortable passing on the elevated cost of goods to customers, which further impedes their recovery and their ability to cover rent.
It’s not just retailers
Overall Alignable's Rent Report showed that 35% of all small businesses in the U.S. could not pay their rent in full and on time in November, up 3% since October and up 5% since August.
It's worse for minority-owned businesses, with nearly half of those polled nationally (49%) saying they can't afford November rent (a 9% increase over October).
When asked directly if they’re afraid inflation will impair their recovery, 90% of small businesses said yes – and 48% noted that they’re “highly concerned.”
But some industries and groups are suffering even more: 93% of beauty salons, 90% of event planners and nonprofits, 82% of massage therapists, 81% of transportation businesses, and 80% of pros in the travel/lodging or restaurant industries.
Some grants you may not have heard about
While many businesses and nonprofits continue to struggle, the Small Business Administration programs and other initiatives that carried many through the pandemic are closed or winding down.
The PPP, Restaurant Relief program are closed, in spite of nonstop lobbying by restaurants to replenish the depleted program. (The fitness industry still hasn’t given up hope)
And the SBA’s Economic Injury Disaster Loan program will stop taking applications at the end of this month.
It’s possible that some new programs could surface in the federal Build Back Better legislation. And the $4 billion state bill using ARPA and tax surplus dollars sitting on Gov. Charlie Baker’s desk includes $75 million for small business relief and $125 million for arts and culture.
Meanwhile, Andy Medici at the BBJ has a list of some other grant and low-interest loan programs for small businesses that may be helpful.
Needham picks Keane, Wellesley picks schools
SJC could upend franchise agreements
The state’s Supreme Judicial Court will hear arguments today (Weds.) in a case that could upend the way state labor laws apply to franchise business owners, , writes CommonWealth’s Shire Schoenberg.
The core of the case, Dhananjay Patel vs. 7-Eleven, which was filed by five 7-Eleven franchise owners, is whether the Massachusetts law that distinguishes between an independent contractor and an employee applies to franchisees
Note about notaries
The virtual notarizations that were allowed during the shutdown and then extended by the legislature expire on Dec. 20. This is a pretty big deal for lawyers, real estate folks and many other businesses that use these services.
State may step-in to provide rapid tests
The Baker administration is exploring ways to expand rapid testing capacity in Massachusetts, according to State House News’ Katie Lannan.
Health and Human Services Secretary Marylou Sudders told the Mass. Municipal Association yesterday to look for an announcement next week.
Last week, President Biden announced plans to require health insurers to reimburse their members who purchase at-home rapid tests.
But Gov. Charlie Baker believes Biden's plan is too complicated and he's right.
"No one's going to buy 10 tests thinking they're going to get their money back from an insurance company that they don't trust already," he said.
"[Rapid tests] should be available in tens of thousands if not hundreds of thousands of locations, they should cost a buck, and people should be able to go in there and buy five, buy 10, and then give a ton of them to the community health centers so the community health centers can do the same thing," Baker added.
Other need to knows
TJX mandates boosters for office workers
Framingham-based TJX Cos. just became one the state’s first major employers to require its corporate employees receive a Covid-19 booster shot.
The company’s U.S. office workers will need a booster by Feb. 1 or after they become eligible for one, the BBJ reports.
The new policy and an earlier vax requirement does not apply to the tens of thousands of TJX in-store and distribution center workers at TJMaxx, Marshalls and other retail chains.
Still the new requirement even puts TJX ahead of even large Massachusetts hospital systems in requiring boosters.
They’re the best
Congratulations to the following chamber members who were recognized as some the region’s Top Places to Work by the Globe: Benchmark Senior Living, Comcast, Commodore Builders, Fairway Mortgage, Hebrew Senior Life, The Hollister Group, Leader Bank NY Life, Roche Brothers, Rockland Trust, The Village Bank and Visiting Angels Newton/Canton,
That’s today’s Need to Knows unless you need to know about the alligator that was found this week in a Massachusetts river.
Greg Reibman (he, him)
President
Charles River Regional Chamber
617.244.1688
Join the chamber
So yesterday the agency announced plans to eliminate one out of every 20 scheduled bus trips because it has too few drivers, reports Grant Welker at the BBJ.
“These service changes are not a cost-control measure,” MBTA GM Steve Poftak said. “The MBTA is budgeted for a full level of service and ready to add back services when we have hired and trained new bus and train operators.”
The Green, Blue, Red and Orange lines won’t be affected. Here’s the route changes, effective Dec. 19.
You bet, small business owners are nervous
One in four retailers in a national survey said they could face financial failure in Q4 unless consumer shopping habits change dramatically.
And 40% of small retailers told Alienable that they could not afford to pay their rent in full and on time last month, a jump of 7% since the month before.
Access to supply chain and a labor shortage have been plaguing merchants for months. Inflation is the latest challenge, with 48% reporting they're uncomfortable passing on the elevated cost of goods to customers, which further impedes their recovery and their ability to cover rent.
It’s not just retailers
Overall Alignable's Rent Report showed that 35% of all small businesses in the U.S. could not pay their rent in full and on time in November, up 3% since October and up 5% since August.
It's worse for minority-owned businesses, with nearly half of those polled nationally (49%) saying they can't afford November rent (a 9% increase over October).
When asked directly if they’re afraid inflation will impair their recovery, 90% of small businesses said yes – and 48% noted that they’re “highly concerned.”
But some industries and groups are suffering even more: 93% of beauty salons, 90% of event planners and nonprofits, 82% of massage therapists, 81% of transportation businesses, and 80% of pros in the travel/lodging or restaurant industries.
Some grants you may not have heard about
While many businesses and nonprofits continue to struggle, the Small Business Administration programs and other initiatives that carried many through the pandemic are closed or winding down.
The PPP, Restaurant Relief program are closed, in spite of nonstop lobbying by restaurants to replenish the depleted program. (The fitness industry still hasn’t given up hope)
And the SBA’s Economic Injury Disaster Loan program will stop taking applications at the end of this month.
It’s possible that some new programs could surface in the federal Build Back Better legislation. And the $4 billion state bill using ARPA and tax surplus dollars sitting on Gov. Charlie Baker’s desk includes $75 million for small business relief and $125 million for arts and culture.
Meanwhile, Andy Medici at the BBJ has a list of some other grant and low-interest loan programs for small businesses that may be helpful.
Needham picks Keane, Wellesley picks schools
- Congratulations to Kevin Keane who was elected yesterday to fill the vacant seat on the Needham Select Board.
- In a special election yesterday in Wellesley, voters overwhelmingly agreed to raise their taxes to pay for two new school construction projects.
SJC could upend franchise agreements
The state’s Supreme Judicial Court will hear arguments today (Weds.) in a case that could upend the way state labor laws apply to franchise business owners, , writes CommonWealth’s Shire Schoenberg.
The core of the case, Dhananjay Patel vs. 7-Eleven, which was filed by five 7-Eleven franchise owners, is whether the Massachusetts law that distinguishes between an independent contractor and an employee applies to franchisees
Note about notaries
The virtual notarizations that were allowed during the shutdown and then extended by the legislature expire on Dec. 20. This is a pretty big deal for lawyers, real estate folks and many other businesses that use these services.
State may step-in to provide rapid tests
The Baker administration is exploring ways to expand rapid testing capacity in Massachusetts, according to State House News’ Katie Lannan.
Health and Human Services Secretary Marylou Sudders told the Mass. Municipal Association yesterday to look for an announcement next week.
Last week, President Biden announced plans to require health insurers to reimburse their members who purchase at-home rapid tests.
But Gov. Charlie Baker believes Biden's plan is too complicated and he's right.
"No one's going to buy 10 tests thinking they're going to get their money back from an insurance company that they don't trust already," he said.
"[Rapid tests] should be available in tens of thousands if not hundreds of thousands of locations, they should cost a buck, and people should be able to go in there and buy five, buy 10, and then give a ton of them to the community health centers so the community health centers can do the same thing," Baker added.
Other need to knows
- Mass Life Sciences Center has announced the latest round of its Tax Incentive program. To qualify companies must be registered to do business in Massachusetts, employ at least 10 permanent state residents and commit to hiring at least 10 net new jobs in calendar year 2022 in Massachusetts and commit to retaining those jobs through December 31, 2026. Learn more
- The Globe had a nice update this week about how pop-up are helping launch new business and fill vacant retail storefronts. Reporter James Sullivan interviews with pop-up operators in Newton Highlands and Project Pop-Up founder (and chamber member) Allison Yee. The Heights wrote about this trend too.
- The Mass Office of Travel and Tourism invites event organizers to add to their 50 Under $50 special deals page, which MOTT says is consistently ranked as one of its Top 5 visited web pages. To list a special deal offered by your organization, the offer must be for two tickets under $50. They’re currently preparing their January/February and March/April lists. Email Phyllis M. Cahaly.
TJX mandates boosters for office workers
Framingham-based TJX Cos. just became one the state’s first major employers to require its corporate employees receive a Covid-19 booster shot.
The company’s U.S. office workers will need a booster by Feb. 1 or after they become eligible for one, the BBJ reports.
The new policy and an earlier vax requirement does not apply to the tens of thousands of TJX in-store and distribution center workers at TJMaxx, Marshalls and other retail chains.
Still the new requirement even puts TJX ahead of even large Massachusetts hospital systems in requiring boosters.
They’re the best
Congratulations to the following chamber members who were recognized as some the region’s Top Places to Work by the Globe: Benchmark Senior Living, Comcast, Commodore Builders, Fairway Mortgage, Hebrew Senior Life, The Hollister Group, Leader Bank NY Life, Roche Brothers, Rockland Trust, The Village Bank and Visiting Angels Newton/Canton,
That’s today’s Need to Knows unless you need to know about the alligator that was found this week in a Massachusetts river.
Greg Reibman (he, him)
President
Charles River Regional Chamber
617.244.1688
Join the chamber
Powered By GrowthZone