SmallBusinessExecutiveInforming, Inspiring and Connecting Businesses
Entrepreneurs build wealth in China
First-generation entrepreneurs lead the pack of those creating wealth in China, a New York Times blog reported. A study by Bain & Co. suggests the number of Chinese individuals with 10 million renminbi, or about $1.5 million, in assets will hit 585,000 this year, twice as many as in 2008. And many have made their [...]
Niche green products gain share in recession
As consumers pinched pennies during the recession, many put aside environmental concerns and opted for lower-priced products, the New York Times reported. As a result, the number of green household cleaners slid to 105 in 2009 from 144 in 2008, the story said. But green products from niche businesses fared better than those from major [...]
Tattoo studios get boost from tax refunds
By Gillian Brockell Medill News Service – Most people might not associate tattoos with taxes, but Chicago tattoo artists do. As taxpayers receive refunds, business picks up at tattoo studios, they said. “It’s pretty much like clockwork,” says Marshall Brown, a tattoo artist at Revolution Tattoo in Bucktown. “You see an influx of people” starting in [...]
Experts offer advice on iPhone tracking file
New research indicating iPads and iPhones routinely collect and store data on users’ whereabouts has some people concerned about how the information could be misused, the Sun-Times reported. “It’s on any machine you’ve synched with your device. It can also be easily accessed on the device itself if it falls into the wrong hands,” wrote researchers [...]
Organic farmer finds profitable niche in locally grown exotic produce
By Gabriel Silverman Medill News Service – Every year, farmer Henry Brockman plants more than 650 varieties of vegetables and fruits on 12 acres of land in Eureka, Ill., or the equivalent of nine professional football fields. Inspired by his experiences in Japan, Nepal and Israel, Brockman grows exotic varieties, such as burdock, a sweet [...]
More U.S. households abandon landlines to cut phone costs: CDC report
When choosing between cell phones and landlines for financial reasons, many Americans are opting to give up their home phones, the Associated Press and Yahoo News reported. Nationwide, about 27 percent of American households relied exclusively on cellphones during the first half of 2010, an eightfold increase in just six years, according to government data [...]
Growing European e-commerce market presents opportunity
Europe’s e-commerce market surpassed the U.S. market last year by generating $182 billion in sales, up 12.5 percent from the prior year, Chicago-based Internet Retailer reports. American-owned businesses generated about 12 percent of Europe’s e-retailing sales. The U.K. market, which is the largest in Europe, saw e-commerce sales climb 23 percent last year from 2009, [...]
Avoid underpricing products by analyzing costs, competition and customer need
By adding value to their products and services, small businesses can boost prices without losing sales, the New York Times reported. Small business owners who underestimate their costs often underprice their goods and services. To determine how much to charge, consider competitors’ prices and whether your products offer more value, suggested pricing consulting Rafi Mohammed, [...]
Groupon adds female Google exec as COO
Groupon has hired Margo Georgiadis, vice president of global sales planning and technology at Google, as its new chief operating officer, Crain’s Chicago Business reported. Georgiadis will take the place of Rob Solomon, a former Yahoo marketing executive who last month announced plans to leave Groupon to return to Silicon Valley. Georgiadis, who currently oversees [...]
Chicago-based singles business seeks to bring e-dating community offline
By Roger Riddell – Medill News Service – By taking its events-oriented approach to the Internet with a new website launched this month, Chicago-based Social One hopes to deliver a winning formula that’s different from existing online dating sites. Joining an already crowded online dating marketplace, the site (www.SocialOne.com) plans to differentiate itself by matching members [...]
