April 16, 2021
NRF SmartBrief Retail on Main Street
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Connecting with Customers
Facebook has expanded its Business Suite functionality with various composing, scheduling and posting controls for Instagram and Facebook Stories, features for managing leads and in-advertisement "Call Now" buttons. The social platform is also running a US test within consumer News Feeds that lets users find businesses related to subjects that interest them.
Full Story: TechCrunch (tiered subscription model) (4/15),  Social Media Today (4/15) 
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Keeping Shop
To better understand company dynamics, drive change, and generally take the pulse of your organization, employee engagement surveys are valuable tools. It's important to ensure your staff members understand why the survey is being done and remember to communicate the results and feedback.
Full Story: Society for Human Resource Management (tiered subscription model) (4/15) 
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Family-business succession to millennials -- those born between 1981 and 1996 -- should be determined by family cohesiveness and flexibility, according to research that identified four strategies. Close-knit, traditional families emerged as the benchmark, rejuvenating companies through effective governance and the strengths of several generations.
Full Story: The Conversation (4/15) 
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Managing the Money
Multiple programs have been established to help small businesses affected by the pandemic. Here is a look at four such funding sources: Economic Injury Disaster Loans, the Paycheck Protection Program, the Shuttered Venue Operators Grant program and the Restaurant Revitalization Fund.
Full Story: Summit Daily News (Frisco, Colo.) (4/15) 
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Retirement planning options when you run a business
(Pixabay)
When it comes to putting together a retirement plan for the self-employed, there are several options to consider. Certified financial planner David Rae discusses the rules behind traditional and Roth IRAs as well as SEP IRAs, defined benefit plans and Solo 401(k)s.
Full Story: Forbes (tiered subscription model) (4/15) 
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There are pros and cons to leasing or owning a commercial property, and Anthony Behar of Major Properties Real Estate discusses when each option makes sense. Key factors to keep in mind include your company's "goals, access to capital and projected growth," Behar writes.
Full Story: Forbes (tiered subscription model) (4/14) 
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Stories from the Street
Anna Kim, who worked in a flower shop while in high school, opened her own gift, flower and wedding business called Gott Efni in Ellicott City, Md., about a year ago. "People crave greenery," says Kim, who is also planning to supply plants for a restaurant a close friend wants to open in the area.
Full Story: The Baltimore Sun (tiered subscription model) (4/13) 
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NRF News
Celebrate small business week with NRF
Connect with other small retail businesses from across the country on Tuesday, May 4, at 2:30 p.m. to celebrate Small Business Week 2021 at the Retail Advocates Town Hall. Register now to meet with members of the US House of Representatives Committee on Small Business. Take advantage of this exclusive opportunity to amplify your voice and advocate on behalf of small businesses.
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TikTok made me buy it: Small business edition
Small business owners are leveraging TikTok to showcase their unique products and highlight different aspects of their business. Everything from jewelry, makeup and self-care products to keychains, upcycled clothes and self-defense tools have seen massive success following a viral video. The success of this content has allowed entrepreneurs to increase production, pay off bills, provide for their families and even help others by offering tips and consulting on how to start a small business. Learn more.
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MainStreet SmartStat: April 16, 2021
March retail sales were up 7.4% seasonally adjusted from February and up 17.7% unadjusted year-over-year. Source: National Retail Federation
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Blair McGary, executive director of the Summit Chamber of Commerce, as quoted by Summit Daily News
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