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If you’re a small business owner, chances are you’ve considered taking out a loan to help finance your operations. But how do you know if you’re eligible for a small business loan? And what’s the process like? In this comprehensive guide about how to get a small business loan, we’ll discuss everything you need to know, including some handy tips from some insiders. Let’s get started with successfully securing that loan for your venture! How to Get a Loan for a Small Business So, you have your business plan in place, and you’re prepared to secure a business loan. Before you proceed with your application on how to get a small business loan, take a look at these helpful tips… Business plan Having a business plan is essential when applying for a small business loan. Your business plan will show lenders how you plan to use the loan and how you will repay it. A good business plan will also include financial projections for your business. Have a good credit score With a good credit score, you will be more likely to get a lower interest rate on your loan because you are a less risky borrower. If you have a bad credit score, you may still be able to get a loan, but the interest rate will be higher, and you’ll have fewer options for lenders. Having collateral Collateral is an asset that you pledge to the lender in case you can’t repay the loan. Collateral can be your home, your car, or other personal assets like stocks, bonds, or jewelry. Having collateral will give you a better chance of getting a loan, but it’s not always required. Strong repayment history If you have a strong history of repaying loans, you will be more likely to get approved for a small business loan. Lenders will want to see that you have a track record of repaying your debts on time. Apply for the right loan There are many different loan options for small businesses. Make sure you apply for one that’s best suited to your business’s specific needs. For example, if you need money for equipment, you may want to apply for an equipment loan. Find the right lender There are many different lenders out there, so it’s important to find the right one for you. Consider things like interest rates, repayment terms, and fees before making a decision. You’ll also want to consider whether you want to work with a bank or another type of lender. Provide financial statements Financial statements show lenders how much revenue your business generates and how much debt it has. These statements will help the lender determine if you can repay the loan. Financial statements include things like balance sheets, income statements, business bank statements, and cash flow statements. Complete the application process The application process for a small company loan can be time-consuming. Make sure you have all the required documents and information before you start. You’ll also want to make sure you understand the terms of the loan and what will be expected of you before you sign. Be prepared for the underwriting process Underwriting is the process by which lenders evaluate your loan application. They will look at things like your credit score, business history, and financial statements. Be prepared for this process by having all the required documentation, such as your business license and tax returns. Work with a professional There are many different types of loans, and the process of applying for one can be complicated. If you’re not sure where to start, or if you need help with the application process, consider working with a professional loan advisor. They can help you find the best loan for your business and guide you through the application process. Comparison of Factors for Small Business Loan Applications This comprehensive comparison table outlines essential factors to consider when applying for a business loan. Use it as a checklist as you navigate the loan application process, helping you make well-informed decisions to secure the right financing for your business: FactorDescription 1. Business Plan- Essential for demonstrating your loan purpose and repayment plan. Should include financial projections. 2. Credit Score- A good credit score can secure a lower interest rate. Bad credit may lead to higher rates and fewer lender options. 3. Collateral- Pledging assets (e.g., home, car) can enhance loan approval chances. Not always mandatory, depending on the loan type. 4. Repayment History- A strong history of timely loan repayments improves approval odds. 5. Loan Type- Choose the loan type that aligns with your business needs (e.g., equipment loan for equipment purchase). 6. Lender Selection- Consider factors such as interest rates, terms, and fees when choosing a lender. Decide between banks and alternative lenders. 7. Financial Statements- Present financial statements (balance sheets, income statements, bank statements, cash flow statements) to showcase your business's financial health. 8. Application Process- Gather all necessary documents and information before initiating the application process. Understand loan terms and obligations before signing. 9. Underwriting Process- Be prepared for the lender's evaluation, including credit score assessment and reviewing your business history. Ensure you have all required documentation, such as business licenses and tax returns. 10. Professional Assistance- Consider working with a loan advisor if you're unsure or need help with the loan application process. They can offer guidance and find suitable loan options. What Is a Small Business Loan? A small business loan serves as a financial resource that helps small businesses obtain the capital they need to operate, grow, or launch their projects. These loans are typically provided by various financial institutions, each offering different terms and interest rates. Let’s delve into the key features of a small business loan: Definition and Purpose: Startup Costs: Assisting new businesses in covering the initial costs necessary for launching. Working Capital: Providing funds to maintain daily operations and manage cash flow efficiently. Inventory Purchases: This allows businesses to replenish their inventory, which is crucial for taking advantage of seasonal sales surges. Equipment Acquisition: Helping with the purchase of essential machinery, technology, or equipment to enhance business operations. Lender Options: Banks: Traditional lenders that offer loans with a variety of terms and conditions, generally with lower interest rates but stricter eligibility criteria. Credit Unions: Not-for-profit organizations that generally offer favorable interest rates and more personalized service. Online Lenders: Modern platforms that offer a quick application process and faster approval times, though they might have higher interest rates. Loan Types: Term Loans: Loans that are repaid over a set period with a fixed or variable interest rate. Line of Credit: A revolving credit option that allows businesses to borrow up to a certain limit and only pay interest on the amount borrowed. Equipment Financing: Loans specifically for purchasing equipment, where the equipment serves as collateral. SBA Loans: Loans guaranteed by the Small Business Administration, which usually come with favorable terms but have a thorough approval process. Application Process: Documentation: Gathering necessary documents such as business plans, financial statements, and tax returns. Credit Score: Understanding the importance of having a good business or personal credit score to increase the chances of approval. Proposal: Crafting a solid business proposal to illustrate the viability and potential success of the business. Consultation: Seeking advice from financial advisors or consultants to choose the best loan option. READ MORE: How to Get a Business Loan with Bad Credit Here’s an interview with Chris Hurn about Using SBA Loans to Buy a Business: What Are the Types of Small Business Loans? There are many different types of small business loans offered by lenders. Many lenders even work with the Small Business Administration (SBA) to offer loans backed by the government. Here is a list of the primary types of small business loans: SBA loans. These loans are backed by the Small Business Administration and can be used for many different purposes, including start-up costs, equipment, working capital, and even real estate. SBA loan programs include the 7(a) loan program, the 504 loan program, and the disaster assistance loan program. Term loans. A term loan is a type of loan that has a specific repayment schedule and a fixed interest rate. Term loans are typically used to finance short-term needs, such as working capital or inventory. Business lines of credit. A business line of credit (LOC) is a loan that a business can draw on as needed. A LOC can be used for working capital, to finance inventory, or to cover other expenses. It’s similar to a credit card but with a lower interest rate. Invoice factoring. Invoice factoring is when a business sells its invoices to a third party for less money than the invoices are worth. The third party then collects the payments from the people who owe the money. This way, the business can use the money it gets from selling the invoices to pay its current expenses. Merchant cash advances. Merchant cash advances are short-term, unsecured loans that give business owners the flexibility they need to cover their expenses. These advances are paid back using a portion of the business’s future credit card sales. Do You Qualify for a Small Business Loan? To qualify for a small business loan, you’ll need business assets, among other things. Here are some general qualifications lenders look at for small business loans: Business credit score. This is a number that lenders use to assess your creditworthiness. You’ll need a good business credit score to qualify for a loan. Business history. Lenders will want to see that you have a strong history of running a successful business. Your personal credit score is an important factor that lenders will take into account when assessing your loan application. Collateral. Many lenders will require that you put up collateral, such as your house or another asset, to secure the loan. Lenders may also require a personal guarantee. Cash flow. Lenders will want to see that your business has a strong cash flow in order to repay the loan. READ MORE: Business Loan Calculator How Do You Choose the Right Lender for a Small Business Loan? When looking for a small business loan, it is important to choose the right lender. Traditional lenders, such as banks, offer loans to businesses that have been in operation for a certain amount of time and meet other criteria. Online lenders can be an excellent choice for businesses that either do not qualify for traditional loans or require funds urgently. Before making a decision, it’s crucial to investigate various small business lenders and compare interest rates, terms, and other relevant factors. What Are Alternative Options to a Small Business Loan? There are many alternative funding options for small businesses that might not qualify for traditional loans, especially those with unique needs or imperfect credit histories. These alternatives provide various benefits tailored to different business models and financial circumstances: Credit Unions: Often more flexible than large banks, credit unions can provide loans with lower interest rates and personalized service. They’re community-focused and may have more interest in supporting local businesses. Crowdfunding: Platforms like Kickstarter and Indiegogo allow businesses to raise funds directly from customers and supporters. This method not only secures funding but also validates the business idea in the market. Invoice Financing: This allows businesses to borrow against the amounts due from customers, providing immediate cash flow relief. It’s ideal for businesses with long invoice cycles. Microloans: Organizations, including some non-profits and the SBA, offer microloans, which are small loans designed to help startups and small businesses grow. These are especially useful for businesses not requiring large amounts of capital. Peer-to-peer Lending: Online platforms connect businesses with individual investors willing to lend money directly, bypassing traditional financial institutions. This can be a quicker, more accessible option for funding. Also consider: Bad Credit Business Loans: Certain lenders focus on providing loans to businesses that have poor credit histories. Although the interest rates may be higher, these loans offer a chance to improve credit and secure essential funding. Borrowing from Friends or Family: A common strategy for many startups, borrowing from friends or family can offer flexible repayment terms, but it’s important to treat the agreement professionally to avoid personal conflicts. Using Business Credit Cards: Business credit cards can serve as a fast and convenient option for short-term financing requirements. They provide rewards and can contribute to building the business’s credit profile. Applying for a Government Grant: Various government grants are available to small businesses in specific industries or regions. These grants do not need to be repaid, making them an attractive option for eligible businesses. Are Small Business Loans Hard to Get? There is no definitive answer to this question, as it depends on the lender and the specifics of the loan application. However, business credit scores are often a factor that lenders consider when approving or denying a loan. High credit scores indicate that a business is reliable and has a good credit history, while a low score may suggest that the business is risky and may not be able to repay the amount borrowed. What Is the Easiest SBA Loan to Get? The simplest SBA loan to obtain is the 7(a) loan. This loan caters to small businesses that are either starting up or looking to expand. You can use the funds for various purposes, such as working capital, purchasing equipment, and marketing. The application process for this loan is fairly straightforward, and the requirements are less stringent compared to other types of loans. Can You Get a Loan for Your First Business? Yes, as a new business owner, you can secure a loan for your first company. The SBA provides loans to entrepreneurs starting or expanding a small business. However, navigating the loan acquisition process can prove complex. You must present a strong business plan and maintain a solid credit history. To qualify for an SBA loan, you need to base your business in the United States and satisfy specific criteria. You might also want to explore some of the alternative financing options mentioned earlier in this article. Image: Depositphotos This article, "How to Get a Small Business Loan: Insider Tips Revealed" was first published on Small Business Trends View the full article

There’s nothing more annoying than arriving at your destination and finding that your checked baggage didn’t make the trip. But thanks to Apple’s new partnership with 15 different airlines, it’s easier than ever to track down your lost luggage—provided you have the right $29 gadget. Here’s what you need to know to help track down your missing baggage as efficiently as possible. U.S. airlines mishandle millions of bags every year While most checked bags get on the proper flight with their owner and arrive as planned, the U.S. Department of Transportation says over 2.8 million bags were “mishandled” by reporting U.S. carriers in 2023. The agency defines a “mishandled” bag as one that is “lost, delayed, damaged or pilfered.” In 2023, about 5.8 out of every 1,000 passengers had something happen to their checked baggage, according to the Bureau of Transportation Statistics. While a damaged bag is unfortunate, at least most your belongings arrive. “Mishandled” bags that are lost, delayed, or stolen, on the other hand, can drastically impact your trip and lead to significant financial losses, depending on what they contain. And, if you’re traveling for business, a lost bag can significantly hamper your work plans. Historically, the only way you could track your checked baggage was via the identifier on the sticker that a gate agent placed on your bag when you dropped it off. In 2021, Apple introduced the AirTag item tracker, giving hundreds of millions of iPhone users a new way to track their items—whether that included keys, purses, or flash drives. Unsurprisingly, many users used AirTags to help track their checked bags from one location to another. The problem was that while users could easily see where their AirTag and attached items were, using the Find My app on their iPhone, they had no easy way to share this information with the airline staff tasked with tracking missing luggage. But now, thanks to recent software updates and agreements with major airlines, that’s changed. Apple teams up with airlines to share AirTag locations Apple released iOS 18.2 in mid-December. The iPhone operating system update garnered headlines for integrating ChatGPT into Apple Intelligence. However, iOS 18.2 also introduced a new feature to AirTags called “Share Item Location.” The feature finally allows users to easily share the location of an AirTag with another individual of their choice. When an AirTag owner shares its location using the Share Item Location feature, the person they choose will receive a link to an interactive map viable in a web browser. The map will show the last known location of the AirTag as well as its geo-coordinates. This allows a third party to track down an AirTag’s shared location easily. [Image: Apple] AirTags have had their share of criticisms since bad actors can use them in nefarious ways, but with Share Item Location, Apple includes a restriction regarding who can access the shared link revealing the AirTag’s location. After clicking on the link, an individual must log into the Share Item Location portal with their Apple ID or an airline partner ID. This ensures that there is always a record of who is viewing your AirTag’s location. Airlines that have partnered with Apple so far include Aer Lingus, Air Canada, Air New Zealand, Austrian Airlines, British Airways, Brussels Airlines, Delta Air Lines, Eurowings, Iberia, KLM Royal Dutch Airlines, Lufthansa, Qantas, Singapore Airlines, Swiss International Air Lines, Turkish Airlines, United Airlines, Virgin Atlantic, and Vueling. If you fly United and you use the United Airlines app to file a missing bag report, you can now include the AirTag’s Share Item Location link with the report. This, says David Kinzelman, United’s chief customer officer, allows United’s staff to “use the location information to find the bag and get it reunited with its owner much more quickly.” How to share your AirTag’s location with an airline to help find your missing luggage With the ability to now share your AirTag’s location with many of the world’s top airlines, it seems like an AirTag should be in every traveler’s arsenal. If you’ve lost a piece of luggage (ugh!) but were savvy enough to have put an AirTag on it, here’s how to share its location with airline staff: Open the Find My app on your iPhone. Tap the Items button in the bottom toolbar. Select the AirTag attached to your missing luggage from the list of items. On the next screen, tap Share Item Location. Tap Continue. Now tap the Share Link button and copy and paste the URL into the airline’s missing baggage report. Airline staff will then log into the AirTag Share Item Location portal to help identify the location of your missing bag so you can get it back as quickly as possible. A single AirTag is just $29; there’s no associated subscription fee for the Find My tracking service. You can also buy a pack of four AirTags from Apple for just $99—perfect if you check a lot of bags when you travel. View the full article

We all know the people pleaser in the office—the one who takes on extra work, stays late without being asked, and is at the full disposal of the department manager. They also may agree with whatever the majority says and will dodge conflict, even though they are in the right. But does this mentality pay off? Likely not, say experts. Who exactly is a people pleaser? A people pleaser is someone who abandons their own needs and values to try and make someone else happy, explains Amy Morin, a psychotherapist and the author of 13 Things Mentally Strong People Don’t Do. While on the surface, you may think this selfless approach will fast-track you at work, however, this mindset can hurt your job success. Here’s how: Your ideas won’t be shared: Your rah-rah attitude, or fear of making waves could be a barrier, especially in brainstorming sessions. “You may not disagree with anyone or offer different opinions due to fear you might upset someone,” says Morin. Plus, this facade could prevent you from speaking your true opinions. “You also might agree to things you don’t really believe in, because you fear your ideas might be frowned upon,” she says. You won’t demonstrate leadership skills: If you want to advance in your career, it’s critical to showcase your ability to lead a team. “It’s important to be able to say ‘no,’ and if you can’t, you’re going to go along with bad ideas or you might get talked into doing things that are bad for the company,” says Morin. “You aren’t likely to be promoted if you look like a doormat.” You won’t advocate for yourself: Being a people pleaser can cause you to be afraid to speak up when you need to at work. You won’t ask for a raise, speak up when you’re treated poorly, or ask for what you need, Morin says. If you don’t advocate for yourself, others are likely to surpass you. You dilute the quality of your work: Being a people pleaser can usurp both your time and energy. “If you’re always saying ‘yes’ to helping other people, you’ll have less time and energy to devote to your tasks,” cautions Morin. “The quality of your work is likely to suffer because you’ll be spread too thin.” You shield your authenticity: People also don’t get to know the real you when you don’t share your true thoughts or personality. A people pleaser might feel lonely because they don’t get to develop authentic relationships with people, says Morin. You take on others’ emotional baggage: You don’t have the power to make others feel happy—and if you try, you might grow frustrated, says Morin. “People pleasers often blame themselves for how other people feel, so you may assume you’re doing something wrong if your efforts aren’t making them happy,” she says. You can hinder your own success: People pleasers shy away from difficult conversations about their progress or tend to avoid advocating for their own development, says Michelle Reisdorf, district president at Robert Half in Chicago. “This can hinder their career growth and potential opportunities,” she says. You don’t set healthy boundaries: People-pleasing employees can get stuck with a heavier workload because they don’t speak up more when work is unloaded onto them. ”If someone struggles with setting healthy boundaries, they may end up taking on more work than what is manageable or accepting demands that fall outside their typical responsibilities,” says Reisdorf. How can a people pleaser pivot themselves to self-advocacy? It can take a plan and then practice for effective strategies to collaborate and cooperate without people-pleasing, but having the will is the best springboard to turn the page on being a doormat. “It might involve finding ways to speak up and say what you need, while recognizing that no one has to give you what you’re asking for,” says Morin. She notes it can take planning and practice to get better at collaborating without turning to people-pleasing. But it is possible to improve, says Morin. “It might involve finding ways to speak up and say what you need, while recognizing that no one has to give you what you’re asking for. So, if you’re uncomfortable speaking up for yourself, start small, advises Morin. “Share one idea at every meeting you attend,” she suggests. “And, when you share ideas often, you’ll see that there will be times when people disagree or dismiss your ideas.” The goal is to get more comfortable with that. As you ease into this plan, she acknowledges there will also be times when people really like your ideas and you may find it feels uncomfortable to be the center of attention or to receive praise, but this is part of your growing strategy. “Exposing yourself to that feeling will also help you grow more comfortable with it.” Another key component of breaking this pattern is to accept that you can’t make everyone happy and sometimes there will be conflict. Disagreements are part of any healthy relationship, and they often lead to better solutions and new strategies, she says. “You may need to work on yourself to recognize that you’re still an okay person even if someone disagrees or is angry with you.” If you always say yes, set out to say no or disagree at least one time per week, Morin recommends. You’ll see how others react and respond to you when you decline an invitation or express yourself. “That can help you see that people aren’t likely to get as upset as you imagined or respond with anger,” Morin says. “And if they do get upset, it’s just another opportunity to practice tolerating your discomfort and coping with those feelings.” Additionally, setting boundaries can allow people pleasers to feel empowered. This path can lead to more confidence and self-advocacy. “Once you’ve assessed your bandwidth, I recommend discussing it with your manager or a trusted mentor to develop a work plan that establishes clear boundaries and aligns with both your well-being and the team’s goals,” says Reisdorf with Robert Half. This more measured approach can be liberating and help you avoid project overload. “Setting attainable and measurable goals will help guide your efforts, keeping you accountable for your progress while also highlighting areas where you might have the capacity to support others in a more balanced and sustainable way,” says Reisdorf. View the full article

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You know you’ve said it. We all have. “Mmm, that looks so delicious—I want to try some!” That’s because when it comes to what we eat, it’s not just a matter of taste. What foods and drinks look like—the colors we see before the first morsels or sips hit our taste buds—have mattered to people for millennia. And nowhere has that been more blatant than the American food palate, where the visual spectrum we choose from includes not only the primary colors but artificial ones that nature couldn’t even dream up. For well over a century, food manufacturers in the United States have used synthetic dyes in their products as part of their production and marketing efforts. Often, it’s been in hopes of making a mass-produced food look as fresh and natural as possible, reminiscent of the raw ingredients used in its production. In other cases, it’s been about making an item look interesting or distinctive from competitors, like candies or desserts in an electric blue or neon pink. Think “blue raspberry Slurpee” or “Flamin’ Hot Cheetos.” It hasn’t been without controversy. Over the decades, there have been pushback and government regulation over just how food and drink have been colored, most recently with the decision last month from the federal Food and Drug Administration to ban red dye No. 3 from foods and oral-ingested drugs because of concerns over a possible cancer risk. But no one’s calling for food NOT to be colorful. That’s because there’s no escaping the importance of what we see when it comes to what we eat, says Devina Wadhera, faculty associate at the College of Integrative Sciences and Arts of Arizona State University. “Your first sensory contact, if your eyes are open, is going to be sight,” she says. “That’s going to be the first judgment we’re going to make.” Visual appeal is pivotal The food manufacturers of the late 19th century knew they had to get the visual appeal right. It was part of their marketing, as a shorthand to encourage brand recognition, to make consumers feel comfortable about quality and overcome worries (or realities) about spoilage as food production became industrialized, says Ai Hisano, author of Visualizing Taste: How Business Changed the Look of What You Eat. Synthetic dyes helped overcome problems like foods losing color in the production process and helped make foods look more “natural,” she says. Then, over time, dyes were deployed to make foods look “fun” and appealing to audiences like young children. (That doesn’t mean manufacturers didn’t sometimes use colorants that could even be deadly—hence the reason there’s regulation.) She pointed to the mid-20th century example of cake mixes, which reduced the amount of effort required to bake a cake at home because most of the ingredients were already included. Food companies began promoting colorful icing for the cakes as a way women baking at home “could kind of present their personality even though they are making a premixed cake,” Hisano says. We become conditioned to coloring The connections we make between colors and foods are learned, Wadhera says. “Throughout our lives, we make associations which mean things. Cake is associated with birthdays. Ice cream is associated with parties and good times, so everything is associative learning. Color is one of those things that we have this tendency to learn about different flavor pairings.” She gave the example of the spate of products like chips and other snacks that are marketed as having an extra kick. Often “they’re super red because (companies are) trying to say, ‘Hey, this is going to be spicy’ because they’re trying to get to this sensation or perception that this is going to be really spicy—buy it.” The connections that we make between color and taste can also change according to the context, says Charles Spence, professor of experimental psychology at the University of Oxford. A blue liquid in a plastic cup in a bathroom? Could be minty mouthwash. The exact same color liquid, in a bar, held in a rocks glass? Could be bitter gin. Different cultures around the world also have different color associations, he says, although it’s fairly constant across geographies that the more vivid a color is, the more intense people assume the flavor will be. It can even extend past the food itself to the colors involved in its presentation, Wadhera says, pointing to research showing people eating different amounts or preferring certain foods linked to the colors of the dishes used to serve them. And much of the time, she says, people aren’t necessarily aware they’re doing it. “There’s a lot of things with color that you can manipulate and affect judgments,” she says. “You don’t think of it, though. . . . We make automatic judgments on the food and we don’t even realize it.” —By Deepti Hajela, Associated Press View the full article

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In the digital world where creativity knows no bounds, Patreon has emerged as a powerful membership platform that allows creators to earn a sustainable income. With Patreon, creatives across all fields can turn their passion into profit, engaging a community of fans who are willing to pay for exclusive access to their work. This article explores how to make money on Patreon and provides tips for maximizing your success. What is Patreon? So, what is Patreon, and how can creators leverage it to make money? Patreon is a membership platform that allows creators to earn income by offering a subscription service to their fans. It acts as a virtual tip jar or fan club, where supporters, referred to as patrons, contribute a set amount regularly to gain access to exclusive content from their favorite creators. Why Patreon is an Ideal Platform for Creators Patreon excels by creating a platform where creators can establish direct connections with their fans, allowing them to earn money while delivering exclusive content and experiences. Below are some of the key features that differentiate Patreon: Exclusive Content: Creators can offer patrons exclusive access to new work, behind-the-scenes content, and more. Community Engagement: The platform allows creators to interact directly with their fans, fostering a sense of community. Flexible Membership Tiers: Creators can offer multiple levels of membership, each with its own set of rewards and benefits. Recurring Income: Rather than depending on one-time sales, creators have the opportunity to generate consistent income through ongoing patron subscriptions. Setting Up Your Patreon Account for Success Before launching into the world of Patreon, there are some key steps to ensure your success. Choosing Your Niche Identifying a niche that aligns with your interests and has potential demand is critical. Some popular niches on Patreon include: Podcasting Visual Art Writing Video Production Music Gaming Setting Up Your Patreon Page Once you have a niche in mind, it’s time to set up your Patreon page. Here’s a step-by-step guide to help you get started: Sign Up: Create an account on Patreon’s website. Choose Your Niche: Identify what type of creator you are and what you plan to offer. Set Up Membership Tiers: Decide on what tiers of membership you will offer and the perks for each tier of membership fee. Build Your Page: Add a bio, images, a welcome video, and other details to make your page engaging. Launch: Once your page is ready, promote it on your other social media platforms to attract patrons. Ways to Make Money on Patreon Monetizing your creativity on Patreon can take many different forms. In this section, we’ll explore several strategies to help you maximize your income potential. Ways to Make Money on PatreonStrategy DescriptionTip for Success Offer Multiple Membership TiersCater to fans with different budget levels and engagement interests, thereby maximizing your earning potential.Survey your audience to determine what tiers and benefits would be most appealing to them. Create High-Quality, Exclusive ContentAttract and retain patrons by consistently delivering high-quality content that they can't find anywhere else.Set a consistent content schedule and keep a pipeline of ideas to ensure regular, unique output. Regular Interaction and Engagement with PatronsFrequent interaction and engagement with your patrons not only fosters a sense of community but also encourages them to maintain their memberships.Use Patreon's polling and messaging features to engage patrons regularly, and respond promptly to comments and messages. Utilize YouTube to Drive Patreon SubscriptionsLink your Patreon page to your YouTube channel, offering early access or exclusive content to your patrons, thereby encouraging more subscriptions.Promote the exclusive benefits of Patreon membership in your YouTube videos and link back to your Patreon in the video description. Set Attractive Subscription FeesStriking the right balance between what value you provide and how much you charge for it is key to setting attractive subscription fees.Monitor patron feedback and be ready to adjust pricing based on the perceived value and your income goals. Organize Paid Live Streams or WebinarsHosting live streams or webinars can provide added value to your patrons and provide an additional income source.Choose topics that resonate with your audience, and ensure the tech setup is flawless for a smooth streaming experience. Sell MerchandiseSelling merchandise like t-shirts, posters, or custom art pieces can add a lucrative income stream.Create high-quality, unique merchandise that fits with your brand and appeals to your audience. Provide Early or Exclusive Access to Your WorkOffering early or exclusive access to your work can incentivize more patrons to subscribe.Make sure early access content is truly valuable and well-promoted, and that you deliver on promises to ensure patron satisfaction. Offer Multiple Reward Tiers and Membership OptionsOffering a variety of rewards and membership options caters to a wider audience, increasing potential earnings.Vary the rewards based on the level of support, offering something for everyone, from casual fans to die-hard supporters. Utilize Other Social Media PlatformsPromote your Patreon page on other social media platforms to attract a broader audience.Tailor your promotional messages to fit the unique dynamics of each platform and encourage followers to support you on Patreon. Offer Multiple Membership Tiers By providing a variety of membership options, you can appeal to fans with varying budgets and levels of engagement, which will help you maximize your earning potential. Create High-Quality, Exclusive Content Attract and retain patrons by consistently delivering high-quality content that they can’t find anywhere else. Regular Interaction and Engagement with Patrons Frequent interaction and engagement with your patrons fosters a sense of community and encourages them to maintain their memberships. Utilize YouTube to Drive Patreon Subscriptions Link your Patreon page to your YouTube channel, offering your patrons early access or exclusive content, thereby encouraging more subscriptions. Set Attractive Subscription Fees Striking the right balance between what value you provide and how much you charge for it is key to setting attractive subscription fee tiers. Organize Paid Live Streams or Webinars Hosting live streams or webinars can provide added value to your patrons and provide an additional income source. Sell Merchandise Selling merchandise like t-shirts, posters, or custom art pieces can add a lucrative income stream. Provide Early or Exclusive Access to Your Work Offering early or exclusive access to your work can incentivize more patrons to subscribe. Offer Multiple Reward Tiers and Membership Options Offering a variety of rewards and membership options caters to a wider audience, increasing potential earnings. Utilize Other Social Media Platforms Promote your Patreon page on other social media platforms to attract a broader audience. How to Make Money on Patreon as a Writer Writers can harness Patreon’s potential by offering unique content or experiences to their patrons. Here are a few strategies: Serialized Novels: Release your novel chapter by chapter exclusively to your patrons. Writing Workshops: Host digital writing workshops or webinars. Behind-the-Scenes Access: Give patrons an inside look into your writing process. Early Access: Offer patrons early access to your latest work. How to Make Money on Patreon as an Artist Artists can use Patreon to transform their passion into profit. Here are a few strategies: Art Tutorials: Share your expertise through tutorials or classes. Commissioned Work: Offer custom artwork for higher-tier patrons. Digital Art Downloads: Provide downloadable digital art pieces. Studio Tours: Give patrons virtual tours of your workspace or process. Patreon Earnings and Fee Structure Patreon operates on a tiered fee structure based on the plan you choose, taking a percentage of your earnings each month. Currently, the pricing tiers include Pro and Premium. Pro Plan: Patreon takes an 8% commission with the Pro plan. This plan offers advanced features like membership tiers, analytics and insights, promotional tools, priority customer support, and more. It’s designed for creators who want to grow their businesses and offer more to their patrons. Premium Plan: The Premium plan is for well-established creators or businesses that need a little more. It offers everything in the Pro plan plus merchandise for membership and a dedicated partner manager for either a 12% commission or $600 a month, whichever is higher. According to Patreon, the plan is best for creators who expect to make at least $5,000 per month on Patreon, so the 12% fee equals at least $600 per month to Patreon. In addition to Patreon’s commission, your earnings will also be subject to transaction fees. These fees can fluctuate based on the payment method chosen by your patrons, but they generally amount to approximately 2.9% + $0.30 for each successful payment exceeding $3, and 5% + $0.10 for payments of $3 or less. Case Study: Successful Patreon Creators Many creators have successfully transformed their passions into profitable ventures on Patreon. Here are a few inspiring examples: Chapo Trap House: This political comedy podcast earns over $160,000 per month on Patreon. Amanda Palmer: The musician and artist earn over $40,000 for each piece of content she creates. The Try Guys: Known for their hilarious and informative YouTube videos, they earn over $30,000 per month. Darknet Diaries: This podcast, centered on cybercrime and hosted by Jack Rhysider, generates approximately $30,000 each month from its loyal listeners. Jessica Nigri: This cosplayer uses Patreon to deliver exclusive photoshoots and behind-the-scenes content, earning over $20,000 per month. FAQ: Making Money on Patreon Questions often arise when creators begin their journey on Patreon. Here are concise answers to some of the most frequently asked ones. How Much Can a Patreon Creator Expect to Earn? Earnings on Patreon vary widely depending on factors such as the number of patrons, membership tier prices, and frequency of content release. How Can I Attract More Patrons to My Page? Attract more patrons by offering high-quality, unique content, engaging with your audience regularly, and promoting your Patreon page on various platforms. How Long Does It Take to Start Earning on Patreon? The time it takes to start earning on Patreon can vary. It often depends on factors like the size of your existing audience, the quality of your content, and your promotion strategies. How Often are Membership Payments Processed on Patreon? Membership payments are processed on the 1st of every month. What Are Some Challenges I Might Face on Patreon? Some challenges might include building and maintaining an audience, setting appropriate subscription prices, and consistently creating high-quality, exclusive content. If these challenges prevent you from using Patreon effectively, there are other options. For example, you could explore how to make money on TikTok, how to make money on Twitch, or how to make money on PayPal. Image: Envato Elements This article, "How to Make Money on Patreon" was first published on Small Business Trends View the full article

In the digital world where creativity knows no bounds, Patreon has emerged as a powerful membership platform that allows creators to earn a sustainable income. With Patreon, creatives across all fields can turn their passion into profit, engaging a community of fans who are willing to pay for exclusive access to their work. This article explores how to make money on Patreon and provides tips for maximizing your success. What is Patreon? So, what is Patreon, and how can creators leverage it to make money? Patreon is a membership platform that allows creators to earn income by offering a subscription service to their fans. It acts as a virtual tip jar or fan club, where supporters, referred to as patrons, contribute a set amount regularly to gain access to exclusive content from their favorite creators. Why Patreon is an Ideal Platform for Creators Patreon excels by creating a platform where creators can establish direct connections with their fans, allowing them to earn money while delivering exclusive content and experiences. Below are some of the key features that differentiate Patreon: Exclusive Content: Creators can offer patrons exclusive access to new work, behind-the-scenes content, and more. Community Engagement: The platform allows creators to interact directly with their fans, fostering a sense of community. Flexible Membership Tiers: Creators can offer multiple levels of membership, each with its own set of rewards and benefits. Recurring Income: Rather than depending on one-time sales, creators have the opportunity to generate consistent income through ongoing patron subscriptions. Setting Up Your Patreon Account for Success Before launching into the world of Patreon, there are some key steps to ensure your success. Choosing Your Niche Identifying a niche that aligns with your interests and has potential demand is critical. Some popular niches on Patreon include: Podcasting Visual Art Writing Video Production Music Gaming Setting Up Your Patreon Page Once you have a niche in mind, it’s time to set up your Patreon page. Here’s a step-by-step guide to help you get started: Sign Up: Create an account on Patreon’s website. Choose Your Niche: Identify what type of creator you are and what you plan to offer. Set Up Membership Tiers: Decide on what tiers of membership you will offer and the perks for each tier of membership fee. Build Your Page: Add a bio, images, a welcome video, and other details to make your page engaging. Launch: Once your page is ready, promote it on your other social media platforms to attract patrons. Ways to Make Money on Patreon Monetizing your creativity on Patreon can take many different forms. In this section, we’ll explore several strategies to help you maximize your income potential. Ways to Make Money on PatreonStrategy DescriptionTip for Success Offer Multiple Membership TiersCater to fans with different budget levels and engagement interests, thereby maximizing your earning potential.Survey your audience to determine what tiers and benefits would be most appealing to them. Create High-Quality, Exclusive ContentAttract and retain patrons by consistently delivering high-quality content that they can't find anywhere else.Set a consistent content schedule and keep a pipeline of ideas to ensure regular, unique output. Regular Interaction and Engagement with PatronsFrequent interaction and engagement with your patrons not only fosters a sense of community but also encourages them to maintain their memberships.Use Patreon's polling and messaging features to engage patrons regularly, and respond promptly to comments and messages. Utilize YouTube to Drive Patreon SubscriptionsLink your Patreon page to your YouTube channel, offering early access or exclusive content to your patrons, thereby encouraging more subscriptions.Promote the exclusive benefits of Patreon membership in your YouTube videos and link back to your Patreon in the video description. Set Attractive Subscription FeesStriking the right balance between what value you provide and how much you charge for it is key to setting attractive subscription fees.Monitor patron feedback and be ready to adjust pricing based on the perceived value and your income goals. Organize Paid Live Streams or WebinarsHosting live streams or webinars can provide added value to your patrons and provide an additional income source.Choose topics that resonate with your audience, and ensure the tech setup is flawless for a smooth streaming experience. Sell MerchandiseSelling merchandise like t-shirts, posters, or custom art pieces can add a lucrative income stream.Create high-quality, unique merchandise that fits with your brand and appeals to your audience. Provide Early or Exclusive Access to Your WorkOffering early or exclusive access to your work can incentivize more patrons to subscribe.Make sure early access content is truly valuable and well-promoted, and that you deliver on promises to ensure patron satisfaction. Offer Multiple Reward Tiers and Membership OptionsOffering a variety of rewards and membership options caters to a wider audience, increasing potential earnings.Vary the rewards based on the level of support, offering something for everyone, from casual fans to die-hard supporters. Utilize Other Social Media PlatformsPromote your Patreon page on other social media platforms to attract a broader audience.Tailor your promotional messages to fit the unique dynamics of each platform and encourage followers to support you on Patreon. Offer Multiple Membership Tiers By providing a variety of membership options, you can appeal to fans with varying budgets and levels of engagement, which will help you maximize your earning potential. Create High-Quality, Exclusive Content Attract and retain patrons by consistently delivering high-quality content that they can’t find anywhere else. Regular Interaction and Engagement with Patrons Frequent interaction and engagement with your patrons fosters a sense of community and encourages them to maintain their memberships. Utilize YouTube to Drive Patreon Subscriptions Link your Patreon page to your YouTube channel, offering your patrons early access or exclusive content, thereby encouraging more subscriptions. Set Attractive Subscription Fees Striking the right balance between what value you provide and how much you charge for it is key to setting attractive subscription fee tiers. Organize Paid Live Streams or Webinars Hosting live streams or webinars can provide added value to your patrons and provide an additional income source. Sell Merchandise Selling merchandise like t-shirts, posters, or custom art pieces can add a lucrative income stream. Provide Early or Exclusive Access to Your Work Offering early or exclusive access to your work can incentivize more patrons to subscribe. Offer Multiple Reward Tiers and Membership Options Offering a variety of rewards and membership options caters to a wider audience, increasing potential earnings. Utilize Other Social Media Platforms Promote your Patreon page on other social media platforms to attract a broader audience. How to Make Money on Patreon as a Writer Writers can harness Patreon’s potential by offering unique content or experiences to their patrons. Here are a few strategies: Serialized Novels: Release your novel chapter by chapter exclusively to your patrons. Writing Workshops: Host digital writing workshops or webinars. Behind-the-Scenes Access: Give patrons an inside look into your writing process. Early Access: Offer patrons early access to your latest work. How to Make Money on Patreon as an Artist Artists can use Patreon to transform their passion into profit. Here are a few strategies: Art Tutorials: Share your expertise through tutorials or classes. Commissioned Work: Offer custom artwork for higher-tier patrons. Digital Art Downloads: Provide downloadable digital art pieces. Studio Tours: Give patrons virtual tours of your workspace or process. Patreon Earnings and Fee Structure Patreon operates on a tiered fee structure based on the plan you choose, taking a percentage of your earnings each month. Currently, the pricing tiers include Pro and Premium. Pro Plan: Patreon takes an 8% commission with the Pro plan. This plan offers advanced features like membership tiers, analytics and insights, promotional tools, priority customer support, and more. It’s designed for creators who want to grow their businesses and offer more to their patrons. Premium Plan: The Premium plan is for well-established creators or businesses that need a little more. It offers everything in the Pro plan plus merchandise for membership and a dedicated partner manager for either a 12% commission or $600 a month, whichever is higher. According to Patreon, the plan is best for creators who expect to make at least $5,000 per month on Patreon, so the 12% fee equals at least $600 per month to Patreon. In addition to Patreon’s commission, your earnings will also be subject to transaction fees. These fees can fluctuate based on the payment method chosen by your patrons, but they generally amount to approximately 2.9% + $0.30 for each successful payment exceeding $3, and 5% + $0.10 for payments of $3 or less. Case Study: Successful Patreon Creators Many creators have successfully transformed their passions into profitable ventures on Patreon. Here are a few inspiring examples: Chapo Trap House: This political comedy podcast earns over $160,000 per month on Patreon. Amanda Palmer: The musician and artist earn over $40,000 for each piece of content she creates. The Try Guys: Known for their hilarious and informative YouTube videos, they earn over $30,000 per month. Darknet Diaries: This podcast, centered on cybercrime and hosted by Jack Rhysider, generates approximately $30,000 each month from its loyal listeners. Jessica Nigri: This cosplayer uses Patreon to deliver exclusive photoshoots and behind-the-scenes content, earning over $20,000 per month. FAQ: Making Money on Patreon Questions often arise when creators begin their journey on Patreon. Here are concise answers to some of the most frequently asked ones. How Much Can a Patreon Creator Expect to Earn? Earnings on Patreon vary widely depending on factors such as the number of patrons, membership tier prices, and frequency of content release. How Can I Attract More Patrons to My Page? Attract more patrons by offering high-quality, unique content, engaging with your audience regularly, and promoting your Patreon page on various platforms. How Long Does It Take to Start Earning on Patreon? The time it takes to start earning on Patreon can vary. It often depends on factors like the size of your existing audience, the quality of your content, and your promotion strategies. How Often are Membership Payments Processed on Patreon? Membership payments are processed on the 1st of every month. What Are Some Challenges I Might Face on Patreon? Some challenges might include building and maintaining an audience, setting appropriate subscription prices, and consistently creating high-quality, exclusive content. If these challenges prevent you from using Patreon effectively, there are other options. For example, you could explore how to make money on TikTok, how to make money on Twitch, or how to make money on PayPal. Image: Envato Elements This article, "How to Make Money on Patreon" was first published on Small Business Trends View the full article

This article is republished with permission from Wonder Tools, a newsletter that helps you discover the most useful sites and apps. Subscribe here. When’s the last time you fielded a tech support call from a parent? You want your parents—or anyone you support—to benefit from email, photo sharing, and video calls. You also have to protect them from scams, malware, and unnecessary complexity. Or maybe you are that parent and want to stay safe online. Either way, today’s post aims to support you. I periodically help my parents make sense of confusing WebEx conferencing instructions or Microsoft Word settings. So when Wonder Tools reader and tech expert Paul Schreiber offered to write a guest post based on his professional and personal experience, I welcomed his input. Below he outlines specific hardware recommendations, security steps, and practical tips you can implement today. The next section of this piece is by Paul. Paul’s advice Over the past few years, I’ve helped my parents and some friends’ parents stay safe online. Here are some things I’ve found work well. Skip the computer Many folks don’t need a powerful computer. They just need access to email, messaging, and the web. An iPad or Chromebook for around $300 provides this (along with thousands of apps), while reducing the burden of maintenance. . . . or pick a simple one A MacBook Air is a great choice if they do need a computer. There’s less malware and Apple provides a single, simple source of support. No need to worry about separate or conflicting instructions from hardware and OS manufacturers. Plus, if they already have an iPhone, the Air works with it seamlessly. Replace the router Replace their current router with one or more eero devices. Eeros: Automatically connect to each other in a mesh for large homes—no more clunky extenders with separate network names. They also work for apartments with thick walls Automatically configure themselves with the right network settings Automatically stay up-to-date Can be monitored and administered remotely from your phone Add guardrails Make yourself the admin. When setting up the computer, create two accounts: One for yourself, with administrative rights A standard account for your parent If they accidentally install adware or other junk, it will only affect their account, not the whole computer, and it’ll be easier to remedy. Install an ad blocker Ads slow down the page and trick people into installing malware. I recommend the free uBlock Origin for Chrome, Firefox, and Edge. (Note: avoid the similarly named uBlock.) For Safari, consider buying 1Blocker, Wipr, or AdGuard. Set up a family account Apple (iCloud+) and Google (Google One) both sell cloud storage that can be shared with your family. For about $10 per month, you ensure everyone’s device is backed up and their photos are synced. You can also share some apps without repurchasing them. Make yourself the recovery contact Add your email and phone number as a recovery contact (Apple, Google) for your parents’ important accounts. This lets you help when they forget their password. It also lets you reset it if they become incapacitated or die. Set up legacy contacts Unlike recovery contacts, legacy contacts control an account after someone dies. Setting these up gives you legal permission to access the account. Each service handles it differently, so read instructions from Facebook, Apple, and Google carefully. Today is trash day Go through your parents’ computer and/or phone. Delete unused apps. Clean up the downloads folder, removing installers (such as .pkg and .dmg files) as well duplicate or outdated files. Passwords Passwords are a pain. Good news: You no longer need to memorize them. With a password manager, the only two passwords you’ll need to remember are those for your computer and your email. Your password manager will automatically create hard-to-guess passwords and fill them in for all other logins. It won’t fill your password in on sites trying to steal your information. Set up password autofill and teach them to use it Spend a few hours using Chrome, Safari, Firefox, or 1Password to generate new passwords for their 25 most important sites Share key account passwords with yourself Final Tips If you want personalized advice, visit Consumer Reports’ security planner. If your parents or relatives are easily duped by fake reviews, set up bookmarks for Consumer Reports, Wirecutter, the Good Housekeeping Institute, Vetted, or other trustworthy review services. P.S. bonus tools—recommended by Jeremy Print Friendly makes it easy to print anything online. Postlight Reader removes clutter from articles, making reading easier. Permission Slip is a free app from Consumer Reports that helps you learn what companies are collecting data about you or your parents or children. You can send a request that they stop selling your personal info. Consumer Reports testing found that paid data removal services often fail to fully scrub personal information from people-search sites. I’ve been testing Incogni, which wasn’t assessed in that report. So far it’s been helpful in requesting that data brokers erase information about me that they’re storing and selling. See the big data broker opt-out list for more info. CleanMyMac is a simple Mac app that makes it easy to remove old installers, duplicate files, and other files cluttering up your computer or taking up space. I’ve used it for a few years and recommend it. Yorba is another promising new service in beta. It can help in several ways: Unsubscribe from emails. Wipe old unused accounts and associated logins. Cancel subscriptions you forgot about. It’s free to start. This article is republished with permission from Wonder Tools, a newsletter that helps you discover the most useful sites and apps. Subscribe here. View the full article

The waters of Cape Cod Bay are coming for the big brown house perched on the edge of a sandy bluff high above the beach. It’s just a matter of when. Erosion has marched right up to the concrete footings of the multimillion-dollar home where it overlooks the bay. Massive sliding doors that used to open onto a wide deck, complete with hot tub, are now barricaded by thin wooden slats that prevent anyone from stepping through and falling 25 feet to the beach below. The owner knew it. He removed the deck and other parts of the house, including a small tower that held the primary bedroom, before stopping work and falling into a standoff with the town. He’s since sold the place to a salvage company that says it won’t pay for work. Officials in Wellfleet worry the home’s collapse will damage delicate beds in their harbor where farmers grow oysters that are among New England’s most prized. A report commissioned by the town projects if nothing is done, the 5,100-square-foot home will tumble into the bay within three years—and possibly much sooner. Its certain fate is a reminder of the fragility of building along the cape, where thanks to climate change sea level rise has accelerated in recent years. “I mean, the cape has always been moving,” said John Cumbler, a retired environmental history professor who also serves on the Wellfleet Conservation Commission. “The sand is moving.” History of the home The house was built in 2010 on Cape Cod on the bay side of the peninsula. Its original owners, Mark and Barbara Blasch, sought permission from the commission in 2018 to build a 241-foot-wide seawall to stave off erosion. The commission’s seven members—all volunteers—rejected the seawall on the grounds that it might have unintended effects on the beach and the way water carries nutrients in the bay. They also questioned whether it would actually save the house. The property is within Cape Cod National Seashore. The National Seashore Administration supported rejection of the seawall because of the “critical location” within the seashore and Wellfleet Harbor area, including critical habitat and valuable shellfish operations. The Blasches appealed the rejection in state district court and lost. An appeal to the state’s Superior Court is pending. A New York man, attorney John Bonomi, bought the house in 2022 for $5.5 million, even as its future was in doubt. Bonomi’s attorneys declined to comment for this story. Threat to the bay and oyster beds A report prepared for Wellfleet last year by Bryan McCormack, a coastal processes specialist with the Woods Hole Oceanographic Institution Sea Grant, estimates that the bluffs are eroding at a rate of 3.8 to 5.6 feet a year. The report estimated collapse in up to three years, but likely sooner. The report said a collapse could send debris into Wellfleet Harbor, where the town’s namesake oysters, well-known to shellfish lovers, take two to three years to reach maturity. “The house has a lot of fiberglass insulation in it. It has toxic material in it,” Cumbler said. “If that toxic material gets into Wellfleet Harbor, which is where the currents will take it, it could endanger the oyster industry in Wellfleet, our major industry outside of tourism.” Standoff over what to do with the house Bonomi “came to us back in October and said, yes, we understand the house is in danger of falling into the sea, and we will give you a plan by January for what we will do with the house,” Cumbler said. “We asked for a plan to remove it from the danger.” That plan was supposed to be presented at the commission’s January meeting. But Bonomi’s attorney, Tom Moore, wrote to the town in December to say Bonomi had sold the house to CQN Salvage, a company incorporated in October, that Moore was also representing. Moore wrote that the town “is on notice to take whatever steps it deems prudent to prevent the collapse of the embankment and the other consequences of further erosion. CQN Salvage is ready to work alongside the town in such efforts but will not fund them.” It’s not clear who owns CQN Salvage. Its incorporation records in New York state don’t list any officials. Moore declined to speak with The Associated Press. At the January meeting, Moore appeared by video and told the commission that the “bare minimum estimate” to remove the house was at least $1 million. “So, you plan to do nothing and allow it to fall into the water?” Lecia McKenna, the town’s conservation agent, asked Moore. “I plan to ask you to not let it fall into the water,” Moore responded. The commission voted to extend to June 1 the deadline to comply with its enforcement order. Wellfleet is left to watch and wait For now, the town is left to simply watch the house. When the AP recently visited the site, 20 mph winds were hitting the bluffs and sand could be seen trickling down. The sea level at nearby Falmouth has risen 11 inches in the past 90 years, but the pace is accelerating. An AP analysis of data from the National Oceanic and Atmospheric Administration found the sea level around Cape Cod between 1995 and 2024 was rising at an annual rate of 0.16 inch faster than the prior 30-year period. McCormack, the Woods Hole specialist who prepared the report for the town, said it’s difficult to attribute erosion at a single property to climate change and sea level rise. And he said Cape Cod has been eroding “for tens of thousands of years.” But he said the bluffs have receded 54 feet since 2014, and the erosion rate over the past decade “has exceeded long-term rates published by the Massachusetts Office of Coastal Zone Management.” —By Andre Muggiati, Associated Press AP data journalist Mary Katherine Wildeman contributed to this report. The Associated Press’s climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org. View the full article

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An X post recently made the rounds for its “old money” visuals. The video depicting weekends spent sailing Lake Como in tuxedos and candlelit dinners at impossibly long dining tables screams “upper crust.” Or so we thought. It was another X user who quickly shattered the illusion. “Sorry to burst the fantasy, but I know one of the girls in this video, and none of this is casual or real,” Louis Pisano wrote in a post. “It’s an ‘Instagram club’ where, if you get accepted, you pay to dress up and create ‘old money’ content with them.” This is the Tuxedo Society, a U.K.-based members-only club promising access to “experiences in the most iconic locations” and a chance to “elevate your network” by connecting with like-minded people. Founded by classic-car dealer Riccardo Capotosti, the group markets itself as an exclusive gateway to a more glamorous, monied world with the motto “Attractive people doing attractive things in attractive places.” “Having access to this elite club will give you the opportunity to connect with enlightened people from all over the world,” the group’s website states. Or, as one X user put it: “So it’s basically Disneyland for wannabe socialites.” The Tuxedo Society, also known as the Tuxedo Members Club, has two websites: one showing the luxurious lifestyle you can expect with a membership and another for applications, though the latter is still in the “Coming Soon” phase as of this writing. To join, you must earn more than 500,000 euros per year (that’s around $520,000) or have a seven-figure net worth (although Pisano claims this isn’t true, based on his personal knowledge of one of the members). Prospective members must also pass an approval process, including an introductory video call with a board member, according to the website. An annual membership then costs 6,000 euros (about $6,200), and if you don’t renew, your spot goes to someone else. Current members, including influencers like Federico di Custoza and model Chiara Basso, pose against classic cars and suited up in formal wear on tennis courts. The most notable member, who can actually claim “old money” status, is Eugenia Hannover, a model linked to the historic House of Hanover. Fascination with the rich and well-connected is nothing new, but in the age of social media, it’s easier than ever to cosplay as wealthy, even if just for content. The secret lives and unspoken rules of the upper classes have been the subject of countless films and TV shows, from The Great Gatsby and The Talented Mr. Ripley to Saltburn. Remember how those stories ended? View the full article

Influencers are not only good for skinny jean and matcha recommendations. Now, they can advise you on where to invest your money. Founded by 23-year-old Steven Wang, Dub is an influencer-driven marketplace where users can now copy the entire portfolios of the likes of Rep. Nancy Pelosi or billionaire hedge fund manager Bill Ackman for just $9.99 a month or $89.99 a year. At the same time, retail traders accepted into Dub’s top creator program will be paid royalties for users to access their model portfolio. “I want the next five Warren Buffetts to be surfaced and famous on Dub,” Wang told CNBC last month. “If we’re really successful with the top creator program, the next generation of the best fund managers, the best traders in the world that people follow will rise from Dub.” Rather than picking stocks, users just need to make sure they pick the right person (kind of like copying the homework of the smartest kid in class rather than actually doing your homework). These portfolios are tracked for changes over time, with any trades automatically copied, eliminating the human error of missing any trades. Dub is also focused on educating users and helps investors make informed decisions by displaying risk scores, risk-adjusted returns, and portfolio stability metrics all on the platform. Retail investing has changed rapidly over the past two decades. Now, almost half of Gen Zers invest in the stock market, according to the Oliver Wyman Forum survey. They are 45% more likely to start investing by age 21 than Millennials and two to four times more likely than Gen X and baby boomers. In for a penny in for a pound, Gen Z are also saving a sizable 14% of their incomes. At the same time, social media is reshaping how people, and Gen Z in particular, choose to spend, save and invest their money. Gen Zers are nearly five times more likely to say they get financial advice, including investing tips, from social media than those in their 40s or above. So Gen Z is going to take advice from anyone, might as well be from those who can put their money where their mouth is. View the full article

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Private-sector employment increased by 183,000 jobs in January, according to the latest ADP National Employment Report, produced in collaboration with the Stanford Digital Economy Lab. The report, based on payroll data from more than 25 million U.S. employees, also showed that annual pay grew by 4.7% year-over-year. Job Growth Trends and Industry Breakdown While hiring momentum from late 2024 carried into January, growth was uneven across industries. Consumer-facing sectors led the expansion, while business services and manufacturing posted weaker results. Industry Employment Changes: Goods-producing sectors: -6,000 jobs Natural resources/mining: +4,000 Construction: +3,000 Manufacturing: -13,000 Service-providing sectors: +190,000 jobs Trade/transportation/utilities: +56,000 Leisure/hospitality: +54,000 Education/health services: +20,000 Professional/business services: +14,000 Information: +18,000 Financial activities: +13,000 Other services: +15,000 Regional Employment Changes Northeast: +22,000 Midwest: +64,000 South: +50,000 West: +70,000 Job Growth by Business Size Small businesses (1-49 employees): +39,000 Medium businesses (50-499 employees): +92,000 Large businesses (500+ employees): +69,000 Pay Insights: Stability in Wage Growth Annual pay increases remained steady in January. Job-stayers saw a median annual pay increase of 4.7%. Job-changers experienced a 6.8% wage increase. Median Annual Pay Growth by Industry (Job-Stayers): Construction: 5.0% Manufacturing: 4.9% Education/health services: 5.0% Leisure/hospitality: 4.8% Financial activities: 5.0% Median Annual Pay Growth by Firm Size (Job-Stayers): Small firms (1-19 employees): 2.9% Medium firms (50-249 employees): 5.0% Large firms (500+ employees): 5.0% Labor Market Outlook Despite strong overall job growth, disparities remain across industries, and some sectors continue to face hiring challenges. “We had a strong start to 2025 but it masked a dichotomy in the labor market,” said Nela Richardson, chief economist at ADP. “Consumer-facing industries drove hiring, while job growth was weaker in business services and production.” Image: ADP This article, "Private Sector Employment Rises by 183,000 in January" was first published on Small Business Trends View the full article

Private-sector employment increased by 183,000 jobs in January, according to the latest ADP National Employment Report, produced in collaboration with the Stanford Digital Economy Lab. The report, based on payroll data from more than 25 million U.S. employees, also showed that annual pay grew by 4.7% year-over-year. Job Growth Trends and Industry Breakdown While hiring momentum from late 2024 carried into January, growth was uneven across industries. Consumer-facing sectors led the expansion, while business services and manufacturing posted weaker results. Industry Employment Changes: Goods-producing sectors: -6,000 jobs Natural resources/mining: +4,000 Construction: +3,000 Manufacturing: -13,000 Service-providing sectors: +190,000 jobs Trade/transportation/utilities: +56,000 Leisure/hospitality: +54,000 Education/health services: +20,000 Professional/business services: +14,000 Information: +18,000 Financial activities: +13,000 Other services: +15,000 Regional Employment Changes Northeast: +22,000 Midwest: +64,000 South: +50,000 West: +70,000 Job Growth by Business Size Small businesses (1-49 employees): +39,000 Medium businesses (50-499 employees): +92,000 Large businesses (500+ employees): +69,000 Pay Insights: Stability in Wage Growth Annual pay increases remained steady in January. Job-stayers saw a median annual pay increase of 4.7%. Job-changers experienced a 6.8% wage increase. Median Annual Pay Growth by Industry (Job-Stayers): Construction: 5.0% Manufacturing: 4.9% Education/health services: 5.0% Leisure/hospitality: 4.8% Financial activities: 5.0% Median Annual Pay Growth by Firm Size (Job-Stayers): Small firms (1-19 employees): 2.9% Medium firms (50-249 employees): 5.0% Large firms (500+ employees): 5.0% Labor Market Outlook Despite strong overall job growth, disparities remain across industries, and some sectors continue to face hiring challenges. “We had a strong start to 2025 but it masked a dichotomy in the labor market,” said Nela Richardson, chief economist at ADP. “Consumer-facing industries drove hiring, while job growth was weaker in business services and production.” Image: ADP This article, "Private Sector Employment Rises by 183,000 in January" was first published on Small Business Trends View the full article

Suntory boss expects to sell less in Europe, Canada and Mexico as a result of US president’s protectionist trade policiesView the full article

Black-owned small businesses are embracing digital tools at higher rates than their non-Black counterparts, helping them navigate financial challenges and drive long-term success, according to a new Intuit QuickBooks Black History Month Survey. The report highlights how early technology adoption is proving to be a key factor in business resilience and financial health, even as access to funding remains a major hurdle. Technology Adoption as a Competitive Advantage The study, based on insights from 2,490 Black and 3,000 non-Black small business owners, found that 28% of Black entrepreneurs are early adopters of new technology, compared to 20% of non-Black entrepreneurs. Businesses that adopt technology later or not at all are nearly twice as likely to struggle or face closure, highlighting the importance of digital tools in long-term business viability. Social media, mobile point-of-sale (POS) systems, customer relationship management (CRM) software, and AI-powered solutions were identified as key drivers of success, with 84% of Black business owners stating that technology is a major contributor to their growth. Social Media and AI Fuel Business Growth Among digital tools, social media stands out, with 70% of Black entrepreneurs crediting it as a critical business driver. It is primarily used for product promotion (64%), brand awareness (51%), and customer engagement (50%). AI adoption is also significantly higher among Black-owned businesses, with 79% integrating AI tools, compared to 62% of non-Black business owners. AI is being used for idea generation (47%), customer support (34%), and marketing (31%), reinforcing its role in streamlining operations and improving efficiency. Financial Challenges Persist Despite Progress While Black entrepreneurs are making strides with technology, financial barriers remain a significant challenge. The study found that 80% of Black business owners used personal funds to cover business expenses in the past year—down from 85% last year but still higher than the 47% of non-Black entrepreneurs who rely on credit cards. Additionally, Black business owners were twice as likely to be denied a bank loan (30%) compared to their non-Black counterparts (15%). Fewer Black entrepreneurs applied for startup loans in the past year, with 45% seeking funding, down from 76% in 2023, mirroring an industry-wide shift away from traditional lending sources. Early Tech Adoption Reduces Financial Strain The report suggests that businesses leveraging technology early are 20% less likely to use personal funds to sustain operations. Seventy-eight percent of Black entrepreneurs believe that digital tools better prepare them for financial challenges, while 93% agree that technology adoption is helping close the racial wealth gap. Lower Barriers to Business Entry The study also found a sharp decline in startup costs for Black entrepreneurs. The average cost to start a Black-owned business fell to $9,800, down from $21,000 in 2023, and lower than the $12,900 average for non-Black entrepreneurs. Looking Ahead: Technology as an Equalizer Black entrepreneurs overwhelmingly view technology as a leveling force in business, with 82% agreeing that it is creating more equitable opportunities. As more Black-owned businesses embrace AI, digital marketing, and automation tools, early adoption trends are likely to continue, reinforcing technology’s role in reducing financial risk and fostering business sustainability. This article, "Black-Owned Businesses Leverage Early Tech Adoption to Overcome Financial Barriers" was first published on Small Business Trends View the full article

Black-owned small businesses are embracing digital tools at higher rates than their non-Black counterparts, helping them navigate financial challenges and drive long-term success, according to a new Intuit QuickBooks Black History Month Survey. The report highlights how early technology adoption is proving to be a key factor in business resilience and financial health, even as access to funding remains a major hurdle. Technology Adoption as a Competitive Advantage The study, based on insights from 2,490 Black and 3,000 non-Black small business owners, found that 28% of Black entrepreneurs are early adopters of new technology, compared to 20% of non-Black entrepreneurs. Businesses that adopt technology later or not at all are nearly twice as likely to struggle or face closure, highlighting the importance of digital tools in long-term business viability. Social media, mobile point-of-sale (POS) systems, customer relationship management (CRM) software, and AI-powered solutions were identified as key drivers of success, with 84% of Black business owners stating that technology is a major contributor to their growth. Social Media and AI Fuel Business Growth Among digital tools, social media stands out, with 70% of Black entrepreneurs crediting it as a critical business driver. It is primarily used for product promotion (64%), brand awareness (51%), and customer engagement (50%). AI adoption is also significantly higher among Black-owned businesses, with 79% integrating AI tools, compared to 62% of non-Black business owners. AI is being used for idea generation (47%), customer support (34%), and marketing (31%), reinforcing its role in streamlining operations and improving efficiency. Financial Challenges Persist Despite Progress While Black entrepreneurs are making strides with technology, financial barriers remain a significant challenge. The study found that 80% of Black business owners used personal funds to cover business expenses in the past year—down from 85% last year but still higher than the 47% of non-Black entrepreneurs who rely on credit cards. Additionally, Black business owners were twice as likely to be denied a bank loan (30%) compared to their non-Black counterparts (15%). Fewer Black entrepreneurs applied for startup loans in the past year, with 45% seeking funding, down from 76% in 2023, mirroring an industry-wide shift away from traditional lending sources. Early Tech Adoption Reduces Financial Strain The report suggests that businesses leveraging technology early are 20% less likely to use personal funds to sustain operations. Seventy-eight percent of Black entrepreneurs believe that digital tools better prepare them for financial challenges, while 93% agree that technology adoption is helping close the racial wealth gap. Lower Barriers to Business Entry The study also found a sharp decline in startup costs for Black entrepreneurs. The average cost to start a Black-owned business fell to $9,800, down from $21,000 in 2023, and lower than the $12,900 average for non-Black entrepreneurs. Looking Ahead: Technology as an Equalizer Black entrepreneurs overwhelmingly view technology as a leveling force in business, with 82% agreeing that it is creating more equitable opportunities. As more Black-owned businesses embrace AI, digital marketing, and automation tools, early adoption trends are likely to continue, reinforcing technology’s role in reducing financial risk and fostering business sustainability. This article, "Black-Owned Businesses Leverage Early Tech Adoption to Overcome Financial Barriers" was first published on Small Business Trends View the full article

Nearly half of Americans believe that we will see a civil war in the United States in our lifetime. As a corporate leader of a large, diverse team that operates across the United States, I am simultaneously horrified by this and hopeful that it will not come to fruition. The workplace gives me a window into the relationships that are at stake if our country further divides. It also gives me hope that relationships can hold us together, two people at a time. I met my colleague Ted last year. We are a generation apart. I’m a city girl. He’s a country guy. I’ve never voted Republican. I doubt he’s ever voted for a Democrat. We both call ourselves Christian, while our similar faith identities guide distinct political choices. Ted and I met at a company-sponsored volunteer week, swinging hammers and painting bold yellow safety lines on the floor of a Habitat for Humanity warehouse in rural Kaua’i. Amidst bruised thumbs (mine) and splattered paint (also mine) we talked about our opposing views on social issues. We also shared tears about loved ones lost and pride for the purpose of our company, Thrivent, where Ted is a 41-year veteran financial advisor, and I am a relatively new executive. Ted and I came away knowing that, despite differences, we have many more values that we share, including our passion for service and community-building among colleagues. We’ve stayed in touch. Ted has both questioned and complimented my marketing team’s work in how we are evolving telling Thrivent’s story in our advertising. He’s also graciously welcomed my family at corporate events. Post-election day On Wednesday, November 6, 2024, I knew it might be difficult for many colleagues—regardless of how they voted—to show up for work the morning after the election. As soon as I arrived, an email came in from Ted. “Good Mornin’ Sunshine!!!” read the subject. One could bristle at seeing that, but I did not. Seeing this come from Ted is like seeing it come from my favorite uncle. I smile as I open the message. Ted was not writing to gloat. He didn’t even mention the election. He was writing to offer thoughts on an article on Thrivent’s intranet site highlighting veterans’ work. He discussed Thanksgiving plans and wished my family well. He was making an authentic connection despite political divisiveness around us and demonstrating genuine care. In a world where we are increasingly sucked into echo chambers of our individual beliefs, the workplace remains a place where we can connect with people with different beliefs and recognize that it is possible not only to work together, but to do work together. For those of us lucky enough to work at a purpose-based and values-driven company, now is the time to lean into those strengths, focus on growth and the impact we have, even amidst differences. Everyone should belong at work Thrivent is a Fortune 500 financial services company whose purpose is to empower lives of service and faith. It is a unique organization that faces cultural challenges of divisiveness just like any large corporation today. Regardless of politics, I want Thrivent to continue to be a place where both Ted and I belong. I read Ted’s email and thought about this for a moment, and then about my team, and our upcoming day—today of all days—of team building that had been on the calendar for months. I sent them an email with the subject “Taking on the day.” In it, I included the following: I am cognizant of how divisive our country is right now, and how divided we are, and how, regardless of the outcome of the election, we would all be among people who are hurting and worried today. I know you all care about this team just as I do. I was thinking about our shared values at Thrivent and how relevant they can be as guiding principles for how we get through tough days together: Empathy—recognize that we all have our own emotional journeys today and be there for one another Authenticity—don’t be afraid to be real with each other, and know that that realness will be met with empathy Commitment—keep moving forward and look for opportunities to serve, and live into the community that we want to be a part of Impact—recognize the strength of our collective effort, and the good that we can do in the world when we focus our energy together Gratitude—even on the difficult days, take comfort in all the gifts that we have, including the gift of each other These are Thrivent’s values. They are not the values of Republicans or Democrats, red states or blue. At work—at my work—they rally us despite forces that could otherwise divide. There are many corporations whose purpose and values put them squarely on one side of a social issue. Most large organizations, though, do not have a purpose that puts them on one end of a political spectrum or another, and, therefore, can be a place where people can work together to have impact despite political differences. In the worldview that Ted and I share, our greatest role in work, and life, is to love one another. There is no room for civil war in this worldview. Using shared purpose and values at work is a unifier that helps us find love for all. Let’s get to work. Carolyn Sakstrup is EVP and chief growth and generosity officer at Thrivent. View the full article