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The average monthly credit card expenditure of U.S. small businesses is up by an average of 20% compared to pre-pandemic levels, according to a recent report by Intuit QuickBooks. Around 1,660 small businesses have filed for bankruptcy in 2023 so far, which is higher than in all of 2022, according to the American Bankruptcy Institute. Access to capital for small businesses is at an economic cycle low. Getting a business credit card is much easier than getting a loan from a bank, Akcigit said. Power, who leads research on small business credit cards at the firm.
Persons: Jerome Powell, Ufuk, Intuit QuickBooks, Goldman Sachs, Akcigit, John Cabell, Cabell Organizations: Fed, Federal Reserve, Bureau of Labor Statistics JOLTS, Intuit QuickBooks, University of Chicago, Intuit, American Bankruptcy Institute, Goldman Locations: ., U.S
"The pressure is coming at companies, who are then putting pressure on suppliers," said Bob Willard, a corporate consultant and author of six books on sustainability. AstraZeneca suppliers are expected to annually report emissions data to the CDP and set science-based goals. "Tracking emissions data is no easy feat," says Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council. Small businesses already under economic stressAmid ongoing fears of recession, higher interest rates cutting into sources of capital, signs of weaker consumer demand, and labor market challenges, small businesses have focused more on employees and their bottom line than sustainability. The report found, as previous climate accounting has typically shown, that the majority of emissions come from suppliers.
Persons: Bob Willard, Andrew Winston, Winston, Karen Kerrigan, Chaitali Patel, Patel, Russell Organizations: Amazon, Microsoft, Walmart, Apple, AstraZeneca, Intuit QuickBooks, Small Business, Entrepreneurship Council, Greenhouse, CNBC, SurveyMonkey, Survey, New York Times
What to expect from the jobs report
  + stars: | 2023-05-04 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +7 min
Minneapolis CNN —If the latest employment trends continue and economists’ forecasts prove true, Friday’s jobs report could bring back that pre-pandemic feeling. Economists expect the US economy to have added 180,000 jobs in April, according to consensus estimates on Refinitiv. It could also hammer home the fact that the US labor market has indeed cooled down from its red-hot recovery over the past two years. What a rising unemployment rate meansEconomists are expecting the unemployment rate to tick up to 3.6% from 3.5%, according to Refinitiv. Mixed signalsPayroll processor ADP’s monthly look at private-sector employment activity, released two days before the BLS’ employment report, is sometimes looked at as a preview of what to expect from the federal data.
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