Small businesses face bookkeeping challenges, overdue invoices during pandemic

Small business owners have been coping with unpaid invoices and inadequate accounting during the pandemic and needed to cover expenses by selling family heirlooms and other valuables.

A survey released Tuesday by Wave, an H&R Block company, found that 17% of the 1,008 microbusiness owners with nine employees or less it polled said there are invoices they’ve sent out that have never been paid. Nearly one out of 10 (8%) said they have waited more than a year for invoices to be paid, while 70% have waited between one to six months. Nearly one in 10 (8%) of the small business owners polled said they have sold off a family heirloom to cover expenses due to late customer payments, while 11% have need to take another job. In addition, 30% of the respondents indicated they have needed to borrow from their own money, and nearly one out of five (19%)

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California economy: Small businesses reopen to new normal

In summary

California’s economy is no longer at its nadir. But small businesses are still working to get back to normal, and are struggling with hiring, childcare for their workforce and the uncertainty of future outbreaks.

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Patty Baird hasn’t taken a single day off in the past year. Cedar House Sport Hotel, her boutique hotel in Truckee, is experiencing a surge of reservations. Even weekday evenings are getting booked up by the work-from-anywhere contingent. Baird is grateful for the additional business, but she’s struggled to hire more staff, which has left her working 12- to 16-hour days. 

Difficulty hiring is just one of several issues Baird faces this summer as California’s economy reopens. The uptick in COVID-19 cases across the state caused by the more contagious delta variant has renewed her sense of uncertainty. She has stopped taking deposits for events because cancellations and

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Square Aims To Change Small Business Banking

In everyday terms, a decade is only 3,650 days. You may not look all that different today than you did in 2011, save a few wrinkles, some gray hairs, and oh, maybe 15 pounds of pandemic-induced stress eating.

But at the intersection of technology and financial services, the landscape of 2021 looks nothing like what we saw a decade ago.

Companies don’t look the same, either.

The evolution of platform economies, the app-driven culture that has swept all of us along, the “everything as a service” mindset has changed the way we live and work and how we run the businesses that serve the economy at large.

In an interview with PYMNTS CEO Karen Webster, Christina Riechers, Square Banking’s head of product, said the latest suite of financial products for small businesses, Square Banking, can fill a “gap” in business banking that has bedeviled smaller firms for a

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‘Delta’ hysteria another blow to already flattened small businesses

We’re in a frenzy — again. And small businesses are poised to suffer for our panic — again.

The Delta variant is circulating, cases are up. But with three vaccines on the market, and nearly 60 percent of eligible Americans fully vaccinated, the picture is much brighter than the breathless headlines would have us all believe.

COVID hospitalizations and deaths remain low. So-called breakthrough cases among the vaxxed, endlessly hyped by the blue-check media, account for a little over 1 percent of infections and 0.8 percent of deaths.

In short, we have figured out how to contain COVID-19. But it’s hard to let go of paranoia.

Neurotic politicians like Mark Levine, chairman of the City Council’s Health Committee, whip people into a tizzy and demand a return to masking. Levine — who in February 2020 urged Gothamites to join the huge crowds in Chinatown celebrating the Lunar New Year in

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Google launches Workspace Individual for entrepreneurs and small business owners

Google Workspace is now pretty much “for everyone“. This week, the company officially launched its ‘Individual’ subscription tier for the service, which provides premium features across several Google services for small business owners and individual entrepreneurs who don’t have any employees. The idea is to provide a small-scale version of Workspace’s vast benefits for sole proprietors or lone guns who run an entire startup by themselves.

With a 14-day free trial available, Workspace Individual gives users extended group video calls (up to 24 hours – none of that 60-minute limitation nonsense!) with call recording, noise cancellation, breakout rooms, and hand-raising, polls, and dial-in capabilities. However, that’s just the beginning – advanced Google Calendar appointment scheduling, customizable layouts in Gmail, and personalized live support also come with the package.

Instead of paying the original $9.99 USD per month, users can get in on Workspace Individual for just $7.99 per month until

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