This week’s small business news review found companies with involuntary IT managers suffer significant productivity losses, net hiring in small biz is down, tips for money management, an unusual choice for a new career, and a social shopping network that is changing the face of malls.
- Economy on the Rise?
The recent reports of economic optimism may be obscuring what is going on at small businesses. The latest Wells Fargo/Small Business Index survey reveals that small businesses did more firing than hiring over the past year. Although net hiring is up compared to 2010, the index shows that the net hiring level has remained the same since 2011.
- Tips for Successful Money Management
Entrepreneurs often struggle with money management. Although each situation is different, there are some common money management tactics used by successful small biz owners. One small biz guru offers a few helpful tips.
- “I Quit Banking to Make ”
Most career advisors tell you to “follow your path” when it comes to opening a small business. In today’s economy many ousted employees are seeking new opportunities, and we found an unlikely choice made by a former banker.
- 8 Million Shopaholics Can’t be Wrong (video)
One entrepreneur has taken the concept of mall shopping to a new level. Wanelo is a social shopping site that brings products from 200,000 stores worldwide to you and your friends.
- Productivity Loss From Involuntary IT Managers
For companies who transition some employees involuntarily into IT managers there is a productivity loss of nearly 300 hours per year. It may seem like a good idea to delegate IT responsibilities to an in-house “guru”, but the cost of avoiding outsourcing for small businesses may be higher than expected.