Here’s news you can use in a constantly changing business environment, including optimism about the economy, tax mistakes to avoid, PPP loan forgiveness, how a mentor can improve business success and more.

1. Optimism about economy, with exceptions — Two months of gains in U.S. consumers’ sentiment may signal the end of the so-called vibes-cession. While price growth is slowing, price levels are well above 2019 levels. At the same time those with at most a high school diploma are experiencing declining wages and more job insecurity. Get more data on the economic report.
2. Why employers need more than a wellness program — An assessment of 90 workplace interventions to support employee wellbeing shows that a “mental health buffet” is not working. What appears to be more effective are workplace policies that allow individuals more structure over their workweek. Discover more about the well-being policies workers want.

3. Tax filing mistakes to avoid — Tax season is here and one of the most common mistakes is missing deadlines. Even if you file an extension you need to pay what you owe by the deadline or face penalties. And penalties will cost you more this year at 8% compared to the former rate of 5%. Read up on five more tax mistakes to avoid.

4. Grace period offered for Covid-era loans — The SBA rolled out a 60-day goodwill exception period for borrowers that have less than $100,000 in loans issued through Covid-era plans like the PPP program. Get the details.

5. Improving the odds of success — Entrepreneurs who work with a mentor are five times more likely to start a business, according to SCORE. Plus, owners who have been in business for years can benefit from mentoring. See how you can get a mentor.

Thank you to our Friday Five sources: Detroit Regional Chamber, Fortune, Forbes, Forbes Advisor, Inc. and SCORE Association.

 

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