Employee theft is one of the most serious problems facing small-business owners in the U.S. According to the National Federation of Independent Business, an employee is 15 times more likely than a nonemployee to steal from an employer, and employees account for an estimated 44 percent of theft losses at stores. The U.S. Department of Commerce reports that nearly one-third of business failures are related to employee theft or fraud.
Lending to small businesses through U.S. Small Business Administration programs is on the upswing in Rhode Island, thanks in large measure to the efforts of community banks, although a traditional SBA powerhouse is back on course in the Ocean State.
Despite relatively strong growth in the number of women-owned businesses in the state, Rhode Island ranks near the bottom of the nation in the overall strength of that segment of the state’s economy.
By Brendan L. McKenna
For almost any small business, credibility is critical. If you aren’t credible, customers won’t trust in your ability to deliver a good product or service, and are more likely to take their business elsewhere. Lack of credibility also leads to a poor reputation, more complaints and unkind reviews on social media.
Millions of small businesses in the U.S. hire seasonal, summer, holiday or other part-time and temporary help. But finding such workers – especially good ones – isn’t easy and comes with a unique set of requirements compared to full-time employees.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.