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Helpful Articles - Entrepreneurship

Savvy business owners and operators are always looking for ways to keep more of their revenue, and reducing taxes is a great place to start. Because your location plays such a central role in the taxes you pay, you may find yourself looking for a business-friendly spot for your operation. This might be especially true if you’re running a business in one of the 10 worst state tax climates in the U.S., as ranked by the Tax Foundation’s State Business Tax Climate Index. The list takes into account a number of different factors—including corporate, property, sales, and unemployment taxes—and rates how well states structure their...

Supply chain vulnerabilities are high in the minds of many leaders in both the public and private sectors. On February 24, 2021, President Joe Biden set in motion a 100-day government review of potential vulnerabilities in U.S. supply chains, centered around critical items including medical gear, batteries for electric cars, and computer chips. Additionally, a private-sector research report showed that 73% of companies surveyed were hit with some kind of supply-side challenge during the COVID-19 pandemic. Going forward, it’s clear that suppliers will be a big focus for supply chain managers looking to build more flexibility into their operations. In this installment of our Insights...

Does your organization have a solid plan in place to prevent and respond to cyberattacks? If not—or if you haven’t examined your plan in a while—now is the right time to make it a priority. According to both the FBI and Interpol, cyberattacks are on the rise. Since the start of the COVID-19 pandemic, the FBI has received between 3,000 and 4,000 cybersecurity complaints per day, three to four times the previous average of around 1,000 daily. Additionally, on the international side, Interpol has reported an “alarming rate of cyberattacks” during the pandemic. The agency also revealed that these attacks have shifted from individuals and...

Although the global COVID-19 pandemic looms large in our current consciousness, it’s hardly the first major event to create significant supply chain disruptions. Consider the 1998 hurricane that affected Guatemala, Nicaragua, and Honduras. The massive storm wiped out 10% of the worldwide banana crop, putting both Chiquita and Dole in a difficult position. Additionally, the 9/11 attacks on the Twin Towers in New York City resulted in increased security and scrutiny around shipments coming into the U.S., delaying the arrival of many manufacturing components from abroad. Among those affected were U.S. auto manufacturer Ford Motor Company, who had to close five of their plants for...

The COVID-19 pandemic put pressure on even the most resilient supply chains. As the pandemic unfolded—and its events created ripples across industries—it shone a bright light on potential challenges and weak spots, some of which resulted in massive disruptions during the global crisis. As a result, many companies are taking time this year to re-evaluate their risk management strategies—and implement new ones. According to a report from the Business Continuity Institute (BCI), 53.2% of companies surveyed are developing a comprehensive pandemic-specific plan to cover them for supply chain issues, while 32.3% are updating their overall plans to better account for supply chain challenges. In other...

2020 has been the year of the curveball—a year in which seemingly anything could happen. Even just in the world of logistics and supply chain management, this year has seen dramatic shortages, supply chain disruptions, air freight capacity crunches, ocean freight blank sailings, and much more. (The list goes on!) As the COVID-19 pandemic continues to impact the globe, most experts agree that the 2020 holiday season will look a little different this year for consumers, retailers, and logistics providers alike. But exactly how will it be different? Obviously, that still remains to be seen. However, in this article, we’ll take a look at some...