In the News: Independent Professionals Thrive Despite Recession Fears

We’ve been hearing some negative economic news lately. But what may be the case for some — or could amount to nothing more than worries — may not be the case for others.

Take, for instance, this report we got from Upwork this week. It identified the top 20 highest paid independent professionals in the US right now.

These are people who have marketable skills and are either out there making money hand-over-fist by themselves or expanding operations, taking on more clients and starting a small business.

We’ll let you find out what these top 20 independent professionals are doing to make their money in our report from earlier this week.

But as you learn more, consider that 1 in 5 Americans last year identified as an independent contractor. And we’ve seen signs that this number will only increase. So for a large portion of these independent professionals, according to the report, their income is steadily rising.

As you hear fears of recession in the near future, consider there are just as many of these reports from Upwork that shows the opposite trend happening.

And don’t forget to check out the rest of this week in small business headlines with our weekly news and information roundup below:

Employment

These are the Top 4 Reasons Your Employees Might Prefer a Home Office

With a growing trend of telecommuting, you cannot always expect that your employees will gladly work in your office. Flexibility at work (or a lack thereof) now plays an important role in hiring employees and keeping them on board. According to FlexJobs’ 8th annual survey, 30% of respondents have left a job because it lacks flexibility at work.

Management

Engage Talent Offers AI Services for Employee Retention

Employee retention is always a challenge, but when unemployment rates are at historic lows, it becomes that much harder. What if you could find a solution which could predict turnover? According to ENGAGE Talent, the predictive assessment it offers measures the likelihood of a candidate looking for new options.

HIPAA Violation Penalties: Could They Impact Your Small Business?

One of the most personal types of data is medical information. And when it comes to protecting this information, the government doesn’t give anyone wiggle room to make excuses. Armed with the Health Insurance Portability and Accountability Act of 1996 (HIPAA), the Office for Civil Rights (OCR) of the U.S.

Marketing Tips

Business Texts with Emoji Now Welcome by Most – Even Baby Boomers!

Do you hesitate to use emojis in your texts because your consumers may find it unprofessional? Well, you should think again! According to a survey from Zipwhip, emojis are welcome if used in the right context. Even baby boomers are ok with the businesses who use emoji in an appropriate context.

Small Bookstore Owners: 98% of Parents Prefer Reading to Kids from Physical Books

The number of independent bookstores grew by 40% between 2009 and 2018, and to date, there are 2,400 stores. This doesn’t include national chains and other retailers. The point is the growth in retail stores and books sales show people still like reading a physical book. Reading to Kids When it comes to parents reading to their children, it is almost unanimously the preferred way.

Retail Trends

How Can Brick and Mortar Stores Compete with Online Retailers?

Can a small, brick-and-mortar store ever hope to compete with online retailers — specifically, with Amazon? Apparently yes: Nearly 86% of retail sales still happen in physical stores, Internet Retailer reports.

Increase Customer Engagement at Your Sports Bar with this Service

The way people consume content has changed. Whether it is binge-watching a whole season of a particular show or a live event, there are more options than ever. For restaurants and bars showing sporting events, it means getting more creative to put people in their seats.

Want to Play Music Legally at Your Small Business? Read This First

If you play music at your small business, the review of ASCAP and BMI Consent Decrees by the Department of Justice Antitrust Division (DOJ) will likely have some consequences. The DOJ is reviewing two music antitrust consent decrees which have been around since the 1940s. And with this review, the way how music is played live, broadcasted and streamed could change.

Small Business Operations

12 Techniques for Making Business Travel More Affordable

Even though technology has significantly reduced the necessity of travel, entrepreneurs still need to go places for a variety of reasons. Without smart management of modern business expenses, or figuring out the best methods of traveling and accommodation, such trips can end up costing your company a lot of money.

Social Media

30 Great Instagram Quiz Questions to Help Promote Your Business

Instagram recently added a quiz feature to Stories that allows users to ask multiple-choice questions to their followers. And it could be a perfect opportunity for small businesses to engage with their audience on the platform. Using the feature is simple. And it’s another great way to market your business with Instagram. Just create a Story on your Instagram account.

Startup

Number of Young Entrepreneurs Declines to Just 4% Since 1989

As of 2018, there were 30.2 million small businesses operating in the U.S. And on average Americans start around 400,000 businesses every year. But there is one group which is not doing well when it comes to starting a business, young entrepreneurs. The number has gone down so much, The Wall Street Journal labeled them an “endangered species.

Technology Trends

Remote Workers: The Biggest Cybersecurity Risk Your Business Faces

If your small business has an online presence, there are many vectors of attack hackers can use to find vulnerabilities. And as more of these businesses use remote workers, it becomes yet another point of attack which can be exploited. Yet, only half of U.S. small businesses have updated their remote work security policy in the past year.

Image: Depositphotos.com

This article, "In the News: Independent Professionals Thrive Despite Recession Fears" was first published on Small Business Trends