Listen to “#673 The Major Challenges Facing Small Businesses in 2022” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1 with Jim Glassman, starting at 0:00: It’s the time of the year when we look into our crystal ball and try to figure out what the economy will look like in 2022. Leading economist Jim Glassman is here to share his perspective on the opportunities and challenges facing small businesses.
SEGMENT 2 with Victoria Jones, starting at 17:15: What are the biggest technology challenges facing small businesses in 2022 and how should a small business owner respond? Victoria Jones is here to share her advice on how to protect your customers’ privacy, secure your company’s data, and more.
SEGMENT 3 with Keewa Nurullah, starting at 35:45: One of the biggest challenges facing small businesses this year is inflation, which rose almost 7% in 2021 – the highest in 30 years. With the cost of doing business rising from goods to employees, what should a small business owner do? Entrepreneur Keewa Nurullah is here to share her experience dealing with this challenge and more.
Sponsored by NiceJob.
More on each segment below.
Segment 1: Jim Glassman is the Managing Director and Head Economist for Commercial Banking at JPMORGAN CHASE. His insights are used by companies and industries to help them better understand the changing economy and its impact on their businesses. Click here to see the Business Leader Outlook Survey.
1:15 – Small business leaders are more optimistic now than they were pre-pandemic! Why is that?
3:15 – Do businesses need more support?
4:30 – How did the unemployment rate go from 20%+ to less than 5%?
5:30 – What is the outlook for inflation, labor shortages, and supply chain pressures this year?
8:00 – What is the solution to the labor shortage?
10:30 – Is raising prices just going to feed inflation?
12:00 – The key takeaway from the Business Leader Outlook Survey.
14:00 – What is the outlook for home prices in 2021?
Segment 2: Victoria Jones is an Evangelist on Zoho‘s customer advocacy team. She is a frequent speaker and trainer on digital collaboration, AI, and privacy. Victoria focuses on creating Zoho-centered educational content to support and empower customers.
17:15 – Has technology made progress toward valuing and respecting consumers’ privacy?
19:15 – As a small business owner, what should you be aware of when it comes to handling your customers’ data?
20:15 – Why does Zoho take such a strong stance on the privacy issue?
23:00 – Where can small business owners run into trouble with data security and how can they make their companies more secure?
27:00 – Will supply chain issues continue into 2022?
29:00 – What can small business owners do to find and retain staff?
31:30 – How Customer Relationship Management (CRM) software can help you win and retain customers (and staff).
Segment 3: Keewa Nurullah is the owner of a small kids boutique in Chicago called Kido and a 4th generation entrepreneur She has been featured by CNN, Inc., and NBC. She was also recently named Black Entrepreneur of the Year for 2021, an award presented by Officially Black Wall Street, Clover, and Snapchat.
35:45 – Keewa’s experience as a 4th generation entrepreneur.
40:00 – What attracts you most to entrepreneurship?
41:00 – How is inflation impacting your business? Have you had to raise the prices at your store? What was the response like?
45:15 – Many retail stores are having trouble finding workers. What has been your experience?
48:45 – The importance of supporting and buying from independent shops, women makers, and Black-owned businesses amid these crises.
