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Credibly Financial News Roundup for the Week of December 7, 2015


Ben Goldstein

With the world of small business finance changing so quickly, who can stay on top of it all? Here at Credibly, we sift through hundreds of blogs, news alerts, and emerging Fintech trends every day, selecting the most important industry updates so you don’t have to. Here’s the financial news that caught our attention this week.

Why I Stopped Angel Investing (And You Should Never Start) by Tucker Max, LinkedIn Pulse
“There’s a reason that Shark Tank is the highest rated show on TV; people love the vicarious thrill of being able to sit in judgment of someone else asking you for something. It’s like a modern version of medieval serfs petitioning their lord. That is compelling spectacle, but let me tell you, it is even more compelling when it’s you they’re begging from.”

10 Promising Franchises for Entrepreneurs by John Rampton, Entrepreneur
“…Founded in 2001, the 24-hour fitness club quickly began franchising in 2002. Today, Anytime Fitness has approximately 2,869 global locations. This recession-proof franchise has been rapidly growing. Entrepreneur has named it one of the top 20 franchises for the last five years. Total Investment will range $62.9K – $417.9K. Credibly states that average annual sales are between $254,700-$585,800.”

A Bad Review Is Forever: How to Counter Online Complaints by Constance Gustke, New York Times
“Mr. Gruel, a trained chef who started his business in a food truck, prefers to respond to reviews himself. He fears using ‘canned responses that aren’t personal.’ If he cannot respond quickly, he asks an employee to do so. Using two smartphones and an iPad, Mr. Gruel already responds to about 50 online reviews a day, regardless of whether they are positive or negative. ‘Dining experiences live on in the computer,’ he said. “And they reach thousands of people. But you can only manage a fraction of that experience inside the restaurant.'”

Big Banks Still Lend Small Businesses Less Than a Decade Ago by Michael Guta, Small Business Trends
“Today’s banks, more often than not, are national or multi-national entities that don’t see enough profit margin in giving out small business loans. The number of loans issued by 10 of the largest banks in the U.S. has decreased 38 percent to $44.7 billion in 2014, the Wall Street Journal reports. This is compared to 2006, when it was at its peak at $72.5 billion, which was one year before the financial crisis.”

What Amazon Wants for Christmas: 100,000 Temps by Adam Satariano and Spencer Soper, Bloomberg
“Amazon’s demand for temps is starting to test the limits of the supply. That means more money for workers and the staffing agencies that technically employ many of them: Amazon is paying more than double what it paid for warehouse temps in 2012, wage data from researcher IbisWorld suggest, while its projected revenue is up 69 percent. Temps’ wages have outpaced inflation, increasing 2.6 percent a year in that time. IbisWorld says they’ll rise 3.4 percent a year for the next three years.”

Engaging Your Employees Is Good, but Don’t Stop There by Eric Garton and Michael C. Mankins, Harvard Business Review
Many commentators talk glibly about employee ‘engagement,’ as if that concept were all-encompassing and easy to define. But we have always found it helpful to break the idea into its component parts. The foundational elements—call them employee satisfaction—are fundamentals such as having a safe work environment and the tools necessary to do the job. Abraham Maslow taught us that we can’t concern ourselves with higher goals until we have the necessities of life, including security. So it is in the workplace: first things first.”


Have you checked out our small business education blog, In.Credibly?

Over at in.credibly.com we’re helping small businesses evaluate their working capital needs, source the right funding, and put those dollars to use more efficiently. This week, our franchise expert Joe Tagliente explained how technology is making restaurant franchises faster, smarter, and more efficient, and Palo Alto Software CEO Sabrina Parsons discussed how to manage inventory levels over the holidays.