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Small business owners across the US are losing a lot of sleep these days worrying just how much longer they are going to be able to hold on. And so are their landlords.
The economic shutdowns and on-again off-again reopenings due to the coronavirus have made it hard for business owners to cover their rent, reports CNN Business’ Jeanne Sahadi.
All of this has raised a lot of questions. Sahadi talked to one business owner who wondered who should be responsible for rent when the government forces them to shut down: the business or the landlord?
Some small business owners are either delaying or making reduced rent payments. Others have had to borrow against their homes or use personal credit cards to cover business expenses.
But there are also some deals being made.
Concessions like rent abatement or forbearance can help both the landlord and the tenant, for example. There’s also the option for a business owner to pay a landlord a fixed percentage of future revenue.
Read more about the options for small businesses owners here.
Black workers say enough is enough
Thousands of workers walked off the job on Monday to protest economic inequality and systemic racism.
The nationwide Strike for Black Lives was organized by a coalition of Black advocacy groups and labor unions to demand higher wages and better benefits and allow workers to form unions.
Many of those protesting were frontline workers, including those in health care, transportation and food services.
According to the Associated Press, organizers said at least 20,000 workers in 160 cities walked off the job.
“If you’re concerned about life, you have to challenge corporations that will put up a hashtag or slogan, but do nothing about workers having health care or a living wage or decent employment,” Rev. Dr. William Barber II, a leader of the Poor People’s Campaign, told CNN.
Ivanka Trump tells unemployed to ‘Find Something New’
Presidential adviser Ivanka Trump launched a new ad campaign called “Find Something New” last week.
And it didn’t go over well with everyone.
In an effort to help unemployed Americans find new jobs, the initiative aims to promote the benefits of skills training and alternate career paths that don’t require a college degree. Its website lists occupations that are projected to grow, links to resources like apprenticeships and certification programs, and includes stories of people who successfully switched careers.
The effort launched with a virtual roundtable of business leaders, including Apple CEO Tim Cook, that was hosted at the White House.
But the campaign didn’t sit well with many people. Some social media users called the new initiative “tone deaf ” and “heartless” for its seemingly simple approach to getting a job. Last month, the American economy was still down nearly 15 million jobs since February.
Read more about the campaign from CNN’s Kate Bennett here.
Job seekers: Grab your Post-its
If you are a recent grad looking for work, I’m sorry. It’s really a tough time to be a job seeker.
What makes this current situation even harder to digest is the sheer speed in which the tables have turned — the unemployment rate went from 3.6% in January, when companies were having a hard time finding workers, to 11.1% in June.
Deep breaths.
There are steps you can take to identify and promote your own unique skills and talents to potential employers and help you get hired, writes Nancy Darling, a professor of psychology at Oberlin College, for CNN Opinion.
Start by grabbing some Post-its and mapping out your strengths, she advises. Write down the technical, language, quantitative, team leadership, communication and any other skills you’ve been able to hone. And don’t forget unusual talents (even juggling!).
Now it’s time to tell your story and sell yourself. The key is recognizing which of your unique skills are the most applicable to the job and showcasing them along with your experience.
Here are more tips about landing your dream job.
Coffee break
If you’re tired of the view from your current home office, you can now get a glimpse of what other people around the world are looking at all day.
The web site WindowSwap lets you cycle through the views from homes across the world, reports CNN’s Scottie Andrew.
So far, I’ve been able to get a peek of a view from Shanghai, China, watched a fairly busy street in Brixton, London, and saw a beautiful landscape from Villongo, Italy.
Got a view you think is worth sharing? You can also submit your own 10-minute horizontal HD video of your window and frame.
Think of all the money you will save getting a world tour without having to leave your living room. Happy virtual travels!!
