Republicans and business groups are sniping at President BidenJoe BidenRealClearPolitics reporter says Freedom Caucus shows how much GOP changed under Trump Iowa governor suggests immigrants partially to blame for rising COVID-19 cases Biden officials pledge to confront cybersecurity challenges head-on MORE over remarks at a town hall event Wednesday night in which he told a restaurant owner struggling to hire workers that his business “is really going to be in a bind for a little while.”

Restaurant groups said Biden’s offered solution to restauranteur John Lanni — pay higher wages — won’t actually solve his dilemma.

“Restaurants aren’t like other small businesses; they run on very tight margins, so any change in operating costs jeopardizes their stability,” said Sean Kennedy, executive vice president of public affairs at the National Restaurant Association.

GOP lawmakers reiterated arguments they’ve already been making about the expansion of unemployment benefits, arguing those policies are

What is the best fried chicken sandwich? What’s the most effective productivity software or the cringiest email cliche? These are the questions that keep us up at night…and the questions the first inaugural Business Olympiad will endeavor to answer. 

Over the next two weeks, Morning Brew readers will have the opportunity to participate in a business competition unlike any other. 10 Events, 90 participants, and everything to play for, the Business Olympiad will bring the best in the biz world together to compete for a place on the podium.

How it works

We have created 10 events with nine participants in each. The first week—the Prelims—will narrow each event down to three finalists. The next week—the Finals—will determine who takes home the gold, silver, and bronze medal.

Who determines who “wins”? You, the readers. We’ll hold a series of polls on our Twitter and Instagram accounts. The three participants with

July
23, 2021

10 min read

This story originally appeared on Due

Recent times haven’t been easy on entrepreneurs, especially those who are small business owners. Many companies have had to cut costs by downsizing their operations and letting some of their staff go to cope with the global economic changes. If keeping your revenue on par with previous years has been difficult for you, know that you’re not alone.

Ways to Cut Costs While Running a Business

1. According to payroll services provider OnPay, 32% of small businesses expected a decrease in revenue with the rise of the pandemic, compared with just 4% in 2019. Although the economy is still in the process of recovering, here are a few proven strategies to immediately cut down costs and make your business more profitable.

Revise Your Yearly Budget

Many business owners adapt ready-made budget plans or reuse their budget from the

The performance of family-managed firms is mixed. To understand the drivers of variation, the authors conducted a meta-analysis of 204 studies covering 3.8 million firms. They find that family businesses tend to suffer in countries where trust in family is high and trust in institutions is low. The best family-firm performers, though, are in countries that score high on trust in both areas, suggesting that the institutional factor is more important.

Globally, family businesses comprise 75% of all firms and contribute 65% to GDP. However, evidence of whether families improve or impair their companies’ performance remains mixed and is ardently debated.

In order to better understand the findings of prior studies, we conducted a meta-analysis (together with the University of Trier’s Joern Block and Dominik Wagner of IUBH International College) that combined 204 academic studies covering 3,880,267 businesses across 30 countries. Family businesses were distinguished based on family’s involvement as