Friday Five Business Briefing – February 14, 2020
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Here’s news to know to help your business to succeed, including financial challenges for family farmers, the trends brought by trade globalization, and how to improve employee recognition.
- Tough times for farmers — The number of family farms filing for bankruptcy was up 20% in 2019 from the year before. In Michigan, 15 Chapter 12 filings were reported, up from 10 in 2018. See how this trend affects each state and region.
- Automation Alley looks ahead — The Michigan Business Future Index looks at trends in trade and identifies industries that will either benefit or be challenged by globalization. Watch their complete presentation with the outlook for 2020.
- Is your employee recognition system stuck in the past? Today’s teams require more than annual evaluations for performance feedback and praise. Regular one-on-ones, peer-to-peer recognition and rituals that celebrate company values are the modern ways to recognize employees. Learn how to do each effectively.
- Widespread adoption of 5G could be decades off — Long term, 5G will have a significant impact on factories, but right now the coverage is too unreliable for many manufacturers to invest in the new technology. Discover how some Michigan companies are developing plans to implement 5G.
- Become a better solver — Controlling your attitude is the first step is becoming a solution-oriented thinker. Here’s a five-minute video with more tips for thinking effectively.
Thank you to our Friday Five sources: Michigan Farm News, Inc., Michigan Business Network, MiBiz and Entrepreneur.
Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. We’re here to help you grow your business!
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