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NFIB Weekly News

NFIB Weekly News Leading the News

NFIB Highlights “Major Concerns” With Build Back Better Act In Webinar (01/18/2022)

The Oklahoma Journal Record (1/12, McNutt) reported on NFIB’s Federal Update webinar, saying, “The Build Back Better Act is wounded but not dead and the final version could have serious implications for small businesses. The National Federation of Independent Business highlighted some major concerns during a webinar Wednesday.” NFIB Federal Government Relations Manager Courtney Titus Brooks was quoted saying, “While a lot of very, very problematic tax increases dropped out, we still have a very significant one we are pushing back on.” The Journal Record added, “That is a 3.8% tax increase on active business income over $400,000 for single filers and on over $500,000 for those filing jointly. The threshold is only $13,000 for businesses held in a trusts.” NFIB Vice President of Federal Government Relations Kevin Kuhlman was quoted saying, “Proposed mandates in the Build Back Better Act also have been reduced, including an expansive 12-week paid family and medical leave that was reduced to four weeks per year.”

Business Climate

Small Businesses Continue To Suffer Under Omicron Challenges (01/18/2022)

Reuters (1/16, Brooks) reported that small businesses across the US “are besieged on three fronts: deepening supply chain issues; periodic staffing shortages; and fewer customers showing up in some areas, fearing the Omicron spike in COVID-19 cases.” The Federal Reserve’s “latest collection of anecdotes about the state of the economy from businesses, labor groups and others[s] that the fast-spreading Omicron variant was exacerbating difficulties, especially for hiring and inflation.” Reuters adds, “Though federal aid and the economy’s overall recovery have kept failure and bankruptcy rates for small businesses far lower than expected, day-to-day management has become a challenge. Census surveys conducted since early in the pandemic show concerns steadily shifting from dwindling cash reserves and a hunt for financing to challenges with supply chains and rising costs.”

Small Business Marketing

Small Businesses Seeing Marketing Success On TikTok (01/18/2022)

Digiday (1/13, Monllos) reported that small business owners have been able to post “organic content” to TikTok “that goes viral and helps boost their business.” Businesses and marketers “have focused on [TikTok], often as a way to diversify their social media mix, using organic and paid strategies to get in front of the more than 29 million monthly active users on the platform. At the same time, small businesses have started to do the same, according to Danielle Johnson, TikTok’s head of SMB account management, North America.” Digiday added, “It’s unclear how much of TikTok’s ad revenue is made up of SMBs as the platform declined to share those figures. That said, the platform is looking to continue to beef up its offering for SMBs with education series as well as working closely with brands when they begin to spend on the platform to continue to improve their experience on TikTok.”

Wages and Benefits

WPost Advocates For US To Mandate Paid Sick Leave (01/18/2022)

In an editorial, the Washington Post (1/15) admonished America for not mandating paid sick leave, especially when many must choose between going to work with COVID or going without pay. While 95% of those with the highest incomes have paid leave, that drops to 35% among the lowest paid workers, many of whom are front-line workers in restaurants and grocery stores. The Post hoped Congress will “require all companies to offer paid sick leave.”

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