11.18.22

Friday Five Business Briefing – November 18, 2022

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Woman holding "Sale Pending" and "SOLD" signs
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Do you have business banking questions? Contact our knowledgeable business development managers.

Here’s news you can use in a constantly changing business environment, including trends in West Michigan industrial activity, how to hire the best talent, signs it’s time to sell your business and more.

  1. West Michigan industrial activity trending down — Michigan’s indexes for new orders, purchases and employment fell into negative territory last month. According to Brian Long’s monthly report, rising interest rates are partly responsible for the shift.
  2. How to hire the best talent — When considering a new hire, do you consider their social skills? Discover the three employee talents to look for when you want to hire exceptional employees.
  3. Adjust accounting for higher Social Security wage base — In 2023, earnings up to $160,200 will be subject to Social Security taxes, increased from $147,000.
  4. Is it time to sell your business? If you’re less patient with day-to-day activities, it could be a sign that’s it’s time to get serious about selling your business. Discover the three signs that could indicate it’s time to sell your business. 
  1. Let passion guide your career — Comparing yourself to others, competitiveness and being guided by others’ expectations can lead to feelings of inferiority. Learn how to defeat imposter syndrome according to a Microsoft executive.

Thank you to our Friday Five sources: MiBiz, Inc., Thomson Reuters, Entrepreneur and CNBC.

Do you have business banking questions? Contact our knowledgeable business development managers online or call 800-991-2221. We’re also available to help in person at your local office.

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Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers.

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