Rural employment falls, employment rate in urban India stays low

CMIE data shows that the gap between the monthly employment rate in 2020-21 and the corresponding month of 2019-20 narrowed consistently till August, when it was just 182 basis points, after which it rose to 254 basis points in September. There are apprehensions it may widen further in October.

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From billion-dollar valuation to bust: Chinese tech unicorn now may be worth just over $1,000

Renrenche was one of China’s hottest tech unicorns backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. Now the car website could sell itself for a little over $1,000.

The Beijing-based startup—which had a pre-money valuation of $1.4 billion in a financing round just two years ago—has a preliminary plan to sell its major assets to 58.com Inc. for HK$10,000 ($1,290), according to people familiar with the matter. China’s online classified ad leader will take over Renrenche’s Hong Kong entity, while offering at least $4 million in loans to its mainland operations, said the people, asking not to be identified because the transaction is private. The parties have yet to finalize the deal and may not proceed with it, the people said.

A representative for Renrenche declined to comment but said the contents of an emailed query sent to the company was inaccurate, without elaborating.

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How to support local businesses in the new normal

This article originally published on GoDaddy’s OpenWeStand.org website.

Small businesses across the country have been drastically impacted by the COVID-19 pandemic. According to the U.S. Chamber of Commerce Small Business Coronavirus Impact Poll, 70% of small businesses are concerned about long-term financial hardship while 58% worry about having to permanently close. With small businesses teetering on the edge of failure, other entrepreneurs are stepping in. Local business owners can help each other out and build each other up during this pandemic.

While some companies might technically be your competitors, it’s important to focus on collaboration over competition: we’re all in this together. Here’s how to support local businesses and protect small businesses as an entrepreneur.

Related: America — Land of the free, home of the small business 

Buy from local vendors

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New coronavirus cases are increasing in all but 5 states

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It’s no time for pandemic fatigue.

With cold weather setting in and Americans preparing to head to the polls en masse in less than two weeks, the nation’s coronavirus map reflects a worrying picture. According to a Fortune analysis of New York Times data, new cases are increasing almost everywhere—in all but five states (Hawaii, Maine, Vermont, Delaware, and New Hampshire) and the District of Columbia.

Twenty five states are reporting at least 200 more cases per day on average than they were two weeks ago. Two states, Illinois and Texas, are seeing more than 1,000 more new cases per day in that time. In another eight—mostly, in the Upper Midwest including Michigan, Ohio, Indiana, and Wisconsin—the average number of new cases per day has increased … Read the rest

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8 tips for restaurants to thrive in the new normal

This article originally published on GoDaddy’s OpenWeStand.org website.

Restaurant owners have been hit hard by the COVID-19 pandemic. Historically, restaurants have depended on serving food to people indoors and in person, but with the lingering threat of the novel coronavirus, small business owners have had to adapt.

For months, some restaurants pivoted to offer takeout only, or provide delivery services. Others closed down entirely, hoping for the pandemic to end quickly. Now, both types of restaurants are trying to reopen, while managing new stay-at-home orders and constantly shifting customer expectations.

How can you thrive as a small business in this “new normal” of COVID-19?

How restaurants can thrive in the new normal

We don’t have all the answers, but these tips can help your restaurant thrive in these uncertain times:

1. Pivot your model

Your initial business model has probably changed a great deal since the pandemic hit.

If you
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