Small Business
Small Business Labor Shortage – Forbes
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Woman Restaurant Owner With Waiting Staff
The Great Resignation has made attracting and retaining employees a top priority. After health insurance, providing retirement benefits is the second most frequently offered benefit to attract talent. State and city regulation is prompting more interest in 401(k) plans, too! More than one-third of small businesses that do not currently offer 401(k) plans expect to within 12 months.
A 401(k) retirement plan is also a way to take care of employees’ financial wellness and provide a tax benefit to companies and their employees. But legacy 401(k) providers avoid marketing to the smallest businesses because the market isn’t very profitable. Yet, the vast majority of companies have fewer than 20 employees.
Penelope is a 401(k) platform that gives small businesses an affordable and east-to-use way to provide retirement benefits. It is helping small businesses navigate the challenges of the Great Resignation. At the same time, its CEO and founder, Jean Smart, manages her own challenges.
Jean Smart, CEO and founder at Penelope—a 401(k) retirement benefits platform for small businesses
Smart is a founding member of Chief, a private network for influential women leaders. She became part of a peer-advisory group with female founders and corporate executives who have similar interests and challenges and help each other problem-solve. One founder in Smart’s peer group has already achieved unicorn status—a billion-dollar-plus valuation.
Smart had worked in companies like Citi, Charles Schwab, and TD Ameritrade, and at the time, UBS. She worked on institutional employee benefits, such as 401(k) plans, employee stock options, and financial wellness. Inspired by the female founders in her Chief group, Smart started developing a business concept of her own.
Smart, the daughter of Korean immigrants who own a grocery store and restaurant, saw how her parents sacrificed to provide for their children and employees while neglecting to save for their retirement. Not saving has left them vulnerable in their later years. «With one in four Americans having no retirement savings, my parents are an all too familiar story in the U.S.—equal parts inspiration and cautionary tale,» said Smart.
«I’m a Gen-Xer and I’ve heard my entire life that we’re going to run out of Social Security,» said Smart. For many Americans, Social Security provides an essential source of income in retirement. But its money is running out. Projections say that starting in 2034; the Social Security Administration will reduce retirement benefits.
Smart’s personal and professional background made her think she was the right person to tackle this problem.
«I wanted to do something around fintech, education, and inclusive capital,» said Smart. She wanted to dispel the notion that there was a quick way of getting rich. Investing regularly in a 401(k) was the way to build a nest egg for retirement. «The reality is it takes generations to build wealth,» she sighed. «It doesn’t happen overnight, and it takes people working 20, 30, 40 years before they have money to pass on [to loved ones].» She wanted to create a way to set it and forget it.
Businesses with fewer than 20 employees—the vast majority—of small businesses need help, thought Smart. Many of these businesses are owned by women, minorities, and immigrants. Fintech streamlined processes, allowed her to simplify paperwork, and helped her cut costs by using a self-serve business model, making it affordable for small businesses to provide retirement benefits for their employees.
«It’s hard making things simple,» said Smart. «There are 50 to 60 thousand funds to choose from. We offer 10. The trade-off is there isn’t customization.» Through a low-cost subscription model, Penelope’s technology platform automates employee investing, streamlines cost and paperwork, provides practical savings tools for employees, and offers the choice of Pooled Employer Plans (PEP), traditional 401(k)s and Solo 401(k)s.
Penelope is an intuitive, cloud-based 401(k) platform, which launched in January. There are no 30-to-40 page documents with complicated jargon, and the content is brief, to the point, and uses plain English. People have different learning styles, so content is provided as text and FinTok videos.
Timing can be everything. More and more states and cities are mandating that businesses provide retirement benefits. California, Oregon, Illinois, Maryland, Colorado, Connecticut, New York City, New Jersey, Virginia, Seattle, and Maine do so. Rules and regulations vary, depending on where your business operates.
«During the Great Resignation, we’re all fighting to get the best people,» said Smart. She relies on referrals, and, fortunately, she is well connected.
Her employees could undoubtedly make more money working in larger companies as a startup. But Smart emphasizes the company’s purpose. «The fact that we are mission-based is very attractive,» she said. «It’s really striking a chord, not just with professionals in their 20s and 30s, but also their 40s, 50s and even their 80s. I’ve got five generations working with me,» Smart proudly said.
She recruited Ted Benna, widely known as the «father of the 401(k),» as an advisor to Penelope. «I’ve helped a lot of small businesses in my lifetime, as well as running my own business, and for many of them, the idea of offering a 401(k) was out of reach, expensive and confusing, filled with jargon and too time-consuming,» said Benna. «Penelope provides plans that are easier to understand and economically make sense for small businesses and startups.»
Shifting from a well-resourced mindset to a resource-constrained startup has been a steep learning curve for Smart. «You’re working with a blank slate,» she said. «You make many mistakes. You have to be open.” You have to be an agile leader, and there are ways to improve your adaptability. Once you have, «it’s thrilling.»
Penelope has successfully raised $2.1 million in pre-seed fundraising led by Slauson & Co. Additional investors include Amplify LA, Black Jays and executives from Wells Fargo, Citigroup and US Bank. “Saving for retirement is an essential tool for building wealth and financial equality,” said Austin Clements, Managing Partner at Slauson & Co. “Penelope fundamentally changes the way small business owners and employees invest in themselves, their families and their communities.”
How are you taking advantage of your experience and market trends to launch or re-calibrate your business?
Featured
Why These Black Women Are No Longer Staying Silent in Public After Being Burned in Private
Why Black Women Need to Speak Up About Bad Partnerships—and Why “I Want Out” Is Opening the Conversation
How many women have to get burned before we stop treating silence like loyalty?
A partnership can begin with excitement, shared goals, and promises of what you will build together. You bring your ideas, your relationships, your money, and your name. You believe that the person beside you wants to see you win.
Then something changes.
The promises become excuses. The responsibilities become uneven. Questions about money lead to arguments. Your contributions are overlooked, but your commitment is still expected.
And when you finally consider leaving, you face another question: What will people say?
For Black women navigating business, leadership, and community relationships, that question can carry weight. Will speaking up make you look difficult? Will people accuse you of tearing someone down? Will telling the truth cost you opportunities?
Those fears deserve an honest conversation. So does the price of keeping everything hidden.

The Partnership Can End. The Damage Can Follow.
A bad partnership can cost more than money.
It can affect your confidence, your reputation, and your willingness to trust yourself. You may find yourself questioning decisions you once felt certain about. You may hesitate to pursue another opportunity because the last one left you exhausted.
Sometimes the hardest part is admitting that something you worked so hard to build is hurting you.
You keep remembering the original vision. You hope one more conversation will fix the problem. You tell yourself that leaving would mean everything you invested was wasted.
But how much more must you lose before you give yourself permission to move forward?
You can believe in collaboration and still recognize when a particular partnership needs to end.
Black Women Deserve Room to Tell the Whole Story
There is room to celebrate Black women’s strength while also making space for their disappointment, anger, and pain.
We should be able to say, “This happened, and it hurt me,” without having to prove that we are strong enough to handle it alone.
We should be able to ask questions about a partnership without being labeled disloyal. We should be able to set boundaries without being called selfish. And we should be able to leave an unhealthy situation without carrying all the blame for its failure.
Supporting our community must include accountability within our community.
A shared background, a familiar face, or an impressive platform does not remove the need for honest communication and follow-through.
We deserve partnerships where respect is visible in the work, the decisions, and the way concerns are handled.
Your Experience Could Help Another Woman Recognize the Warning Signs
When women share what they have learned, others gain something they may desperately need: a clearer picture of what to watch for.
Someone may recognize the pattern of unanswered questions. Someone may realize she has been carrying responsibilities that were supposed to be shared. Someone may finally understand why she feels uncomfortable, even though everyone around her keeps calling the opportunity a blessing.
Speaking up can mean sharing the questions you wish you had asked, the boundaries you wish you had set, or the moment you realized you needed to leave.
It does not require sharing every private detail. A truthful account of your own experience can teach a powerful lesson.
And women who are not ready to speak publicly deserve support, too. The responsibility for harmful behavior belongs to the person who caused it. Sharing a story should be a choice made with care.
For the woman who is ready, her experience may become the warning she wishes someone had given her.
“I Want Out” Is Making Space for This Conversation
The forthcoming collaboration book “I Want Out” brings this conversation into the open.
A collaboration book revealing the good, the bad, and the ugly of partnerships—so you can recognize the warning signs, avoid costly mistakes, and protect your future.
The project creates an opportunity for women and men to share experiences and lessons from partnerships—and to help others think more carefully about what they enter, what they accept, and when they choose to leave.
Among the women participating are Toni Moore, Dee Tate, and Coach Gayl Benson, whose professional backgrounds bring different perspectives to the conversation.
Toni Moore is an attorney and business strategist. Her website includes education for entrepreneurs on protecting their brands through trademark knowledge, adding a business protection perspective to the group.
Dee Tate is an award-winning film producer, multidisciplinary artist, poet, and author whose work explores faith, healing, identity, and becoming. She founded Chicago Production Assistants in 2016, growing a community of more than 7,000 members. Her work encourages people to recognize their lived experiences as a source of purpose, creativity, and impact.
Coach Gayl Benson is a Certified Master Life and Cognitive Behavior Coach who helps women challenge limiting beliefs and move toward their next chapter. Through her L.I.E.—Let It End—framework, she guides women in examining the stories they have accepted about themselves and recognizing their power to choose what comes next.
Their backgrounds reflect the range of voices this conversation needs: business knowledge, creative expression, and personal growth.
Meet the Woman Bringing “I Want Out” Together
“I Want Out” is being put together by Taurea “Vision” Avant, who is bringing contributors together to share honest stories and help others make more informed partnership decisions.
Taurea “Vision” Avant is a two-time TEDx speaker, author, and founder of Book Profits Club™. She helps authors, speakers, coaches, and entrepreneurs turn their books into tools for visibility, business growth, and income. Having spoken in more than 10 countries, Taurea brings an international perspective to helping people share their stories with purpose. Through publishing support, collaboration books, training, and media opportunities, she guides authors beyond writing toward building a platform. She also created Author Allstars™ Magazine to spotlight authors worldwide. Her mission is to help 1,000 authors earn more than $10,000 monthly by building businesses around their books.
We Are Looking for More Women and Men to Join Us
Have you experienced a partnership that left you saying, “I want out”?
Did you learn a difficult lesson about trust, boundaries, accountability, or walking away? Could sharing your experience help someone recognize the warning signs sooner or feel less alone?
We are inviting more women and men to become coauthors of “I Want Out.” While this article highlights Black women’s voices, the book welcomes both women and men who want to share honest experiences and valuable lessons about partnerships.
Your story does not have to end with everything perfectly resolved. What you have learned may give someone else the clarity or courage to make a better decision.
To learn about the book and becoming a coauthor, register for the information session at iwantout.collaborationbooks.com.
You cannot change what happened. But your voice may help someone else change what happens next.
Leadership
From Book to Booked: Taurea Avant Shares How Authors Can Use AI to Land More Speaking Opportunities
For many authors, publishing a book feels like the finish line. Visibility strategist, international speaker, and bestselling author Taurea Avant sees it differently. In her view, publishing the book is often just the beginning of a much bigger opportunity.
Avant has built her work around helping authors, speakers, coaches, and experts turn their knowledge and stories into visibility, stages, media opportunities, and revenue. Through her “From Book to Booked” approach, she encourages authors to stop looking at their books only as products to sell and start viewing them as strategic business tools.
“Writing the book is not necessarily the hardest part,” Avant explains. “The bigger challenge is figuring out what to do with the book once it is finished. A lot of authors publish the book, put it on Amazon, announce it to their audience, and then they are not really sure what comes next.”
According to Avant, what comes next should be a clear strategy for expanding the message beyond the pages.
A Book Can Become a Speaking Credential
For authors who also want to speak, Avant believes the book can provide an immediate credibility boost. It gives event organizers, podcast hosts, media outlets, and potential clients something tangible that represents the author’s knowledge and expertise.
However, simply being a published author is not enough.
“The goal is not to get on stage and spend 30 or 45 minutes talking about your book,” Avant says. “The goal is to identify the transformation inside the book. What can you teach? What can the audience learn from your story? What problem can your experience help someone solve?”
That shift in thinking can completely change how an author approaches speaking opportunities.
A leadership author, for example, can develop talks around leadership development, team building, workplace culture, or personal growth. An entrepreneur who has written about business can create presentations around sales, marketing, resilience, branding, or entrepreneurship. Someone who has written a personal story can identify the lessons within that experience and turn those lessons into keynote presentations, workshops, or panel topics.
Avant encourages authors to start by looking at something they already have: their table of contents.
“Your chapters can become speaking topics,” she says. “One chapter may become a keynote. Another may become a workshop. Another may become a podcast conversation. Authors sometimes think they need to keep creating completely new content when they may already have months of speaking content sitting inside their book.”
AI Is Changing How Authors Can Position Themselves
The rise of artificial intelligence has created concerns for many writers and authors, especially around originality and the future of publishing. Avant believes authors should pay attention to those concerns, but she also sees tremendous opportunity in using AI as a business and visibility tool.
“AI should not replace your story, your experience, or your voice,” she explains. “But it can help you organize and leverage what you already know much faster.”
For an author looking to expand into speaking, that could mean using AI to brainstorm presentation topics based on a book, strengthen a speaker bio, create podcast pitch ideas, develop workshop outlines, prepare interview talking points, or identify audiences that may benefit from the author’s message.
An author could take the summary of a chapter, for example, and ask an AI tool to suggest five potential keynote topics. From there, the author can decide which ideas fit their expertise, audience, and voice.
“You still have to bring yourself to it,” Avant says. “AI may give you an idea, but your experience is what makes that idea powerful.”
AI can also help authors think more strategically about where their message belongs. Rather than randomly searching for stages, Avant recommends first identifying the audience, the problem that audience faces, and the transformation the speaker provides. AI can then be used to brainstorm types of conferences, organizations, podcasts, associations, and companies where that topic may be relevant.
Visibility Often Leads to More Visibility
One of the biggest lessons Avant teaches speakers is that getting booked can often lead to getting booked again.
Event organizers and podcast hosts regularly research potential guests before making a decision. When they search a speaker’s name, they may look for previous interviews, articles, speaking clips, media coverage, and other evidence that the person has experience delivering their message publicly.
“People are going to look you up,” Avant says. “The question is, what are they going to find?”
This is why she encourages speakers to treat every opportunity as part of a larger visibility strategy. A podcast appearance can become a video clip. A speaking engagement can become photographs, testimonials, and social media content. An article can strengthen credibility when pitching another publication or conference.
Over time, those individual opportunities create what Avant describes as a visibility trail.
“The more evidence people can find that you are already speaking, being interviewed, and sharing your expertise, the easier it becomes for them to imagine you on their stage,” she explains.
That does not mean every opportunity needs to be massive. Avant believes many speakers make the mistake of focusing only on large conferences while overlooking smaller stages that may place them directly in front of the right audience.
“Thirty of the right people can sometimes create a bigger opportunity than 3,000 people who are not your audience,” she says.
Authors Should Think Beyond Book Royalties
Avant also challenges authors to think differently about how a book can generate revenue.
Most authors naturally think first about book sales. Yet the financial opportunity connected to a book can extend much further.
A book may sell for $20, but the authority created by that book can lead to speaking engagements, coaching clients, consulting contracts, partnerships, workshops, media appearances, and other opportunities worth considerably more.
“The book can be one of the least expensive things you offer, but it can be one of the most powerful tools for introducing people to everything else you do,” Avant says.
That is the core of the “From Book to Booked” philosophy. The objective is not simply to sell more books. It is to use the book to create a larger ecosystem around the author’s expertise.
When that happens, the book becomes the introduction, the speaking opportunity expands the message, and the business gives the audience a way to continue working with the author.
The First Step Is Getting Clear
For an author who wants to begin landing more speaking opportunities, Avant recommends starting with clarity.
What do you want to be known for? Who needs your message? What transformation can you provide? What type of stage already attracts those people?
Once those answers become clear, the next step is consistent visibility and pitching.
“The biggest mistake is waiting for someone to discover you,” Avant says. “You have to start putting yourself in the rooms, conversations, interviews, and platforms where your message belongs.”
With the continued growth of podcasts, virtual platforms, live conferences, digital media, and AI tools, authors now have more ways than ever to turn one book into multiple opportunities.
The book may start the conversation, but it does not have to be where the conversation ends.
Learn How to Speak on More Stages
Avant is continuing this conversation through her How to Speak on More Stages Workshop, designed for authors, speakers, coaches, entrepreneurs, and experts who want to increase their visibility and create more speaking opportunities.
The workshop will cover how to position a message for the right stages, develop stronger speaking topics, leverage a book as a credibility tool, identify opportunities, and use AI to help make the visibility process faster and more strategic.
To learn more or register, visit www.HowtoSpeakonMoreStages.com.
Small Business
Small Business Confidence Is Rising Again—But Growth Comes With a New Set of Challenges
After months of economic uncertainty, there are signs that America’s small-business economy is regaining some momentum. Entrepreneurs are starting companies at a faster pace, existing business owners are becoming more optimistic, and more employers are preparing to hire.
But this is not a return to easy growth.
The small-business environment of 2026 is increasingly defined by a different challenge: owners may see opportunities to expand, but finding the right employees, managing financing costs, protecting margins and making smart investments are becoming critical to turning optimism into sustainable growth.
Confidence Is Returning to Main Street
The latest numbers offer an encouraging picture.
The National Federation of Independent Business reported that its Small Business Optimism Index increased 2.4 points to 99.8 in July 2026, putting it above its long-term average of 98 and at its highest level since August 2025. Eight of the index’s ten components improved during the month.
Perhaps more important is what business owners intend to do next.
A seasonally adjusted net 20% of small-business owners said they planned to create jobs during the next three months, the strongest hiring intention recorded since October 2022. Meanwhile, 25% planned capital expenditures during the next six months, the highest level since December 2024.
That combination suggests small-business owners are not simply feeling more confident. Many are beginning to think about expansion again.
And new entrepreneurs continue to enter the market.
The U.S. Census Bureau reported 578,926 business applications in July 2026, seasonally adjusted, an 8.1% increase from June. The agency projected nearly 30,000 new employer businesses would emerge within four quarters from July’s applications.
Entrepreneurial activity, in other words, remains alive and well.
The Biggest Problem Is Shifting
For much of the past several years, inflation dominated business conversations. Rising materials, transportation, energy and operating expenses forced many small companies to increase prices or accept thinner margins.
Those pressures have not disappeared, but the latest data suggest the concern is changing.
In July, 14% of surveyed small-business owners identified inflation as their most important business problem, down seven percentage points from June. At the same time, 27% identified labor quality or availability as their biggest problem, making workforce issues the leading concern.
Thirty-six percent reported job openings they could not fill, the highest percentage since June 2025. Among businesses hiring or attempting to hire, a large majority reported receiving few or no qualified applicants.
That creates an unusual situation.
Businesses increasingly want to hire at the same time that many cannot find the people they need.
For small companies, this problem can be particularly serious. Large corporations may have dedicated recruiters, larger salary budgets and stronger employer brands. A business with 10 or 20 employees often does not have those advantages.
The result is that the next stage of small-business competition may be fought as much over talent as customers.
Small Businesses Need to Rethink Hiring
Throwing another job listing online may no longer be enough.
Owners looking to expand should increasingly think about the employee experience in much the same way they think about the customer experience.
Competitive pay matters, but so do scheduling flexibility, career development, workplace culture, training and clear opportunities for advancement.
Small businesses can also compete in ways that larger companies sometimes cannot.
They can give employees greater responsibility earlier. They can make decisions faster. Employees may have more direct access to leadership and a clearer understanding of how their work affects the company.
Those advantages need to become part of the recruiting message.
Businesses should also reconsider whether every position requires an experienced candidate. When qualified talent is scarce, hiring capable people and developing them internally can sometimes be more effective than waiting months for a perfect résumé.
Growth Still Needs Financial Discipline
Improving confidence should not be confused with inexpensive money.
NFIB’s July survey found that the average interest rate owners reported paying on short-maturity loans was 7.9%. Meanwhile, Federal Reserve lending data showed that credit standards remained toward the tighter end of their historical range across many lending categories, even as conditions for commercial and industrial lending were relatively more accommodating.
That means expansion decisions need to be deliberate.
Buying equipment, opening another location or adding employees may create growth, but only when the expected return justifies the cost.
Owners should know three numbers before committing to major expansion: the additional monthly cost, the realistic revenue the investment can generate, and how long the business can comfortably carry the expense if sales develop more slowly than expected.
In an uncertain economy, cash reserves and flexibility can be just as valuable as rapid growth.
Protecting Margins Matters More Than Chasing Revenue
Revenue growth looks impressive, but profitability keeps businesses alive.
Small-business owners should therefore pay close attention to which products, customers and services actually produce their strongest margins.
Some businesses may discover that a relatively small group of customers generates most of their profit. Others may find that an apparently popular product consumes too much labor, inventory or delivery expense to remain worthwhile.
The strongest companies will use this period of improving confidence to become more selective—not simply bigger.
That could mean eliminating low-margin offerings, renegotiating supplier contracts, introducing minimum order requirements, adjusting pricing or focusing sales efforts on the customers most likely to become profitable long-term relationships.
The Opportunity Is Real, but So Is the Uncertainty
The current numbers are encouraging, but business owners are hardly carefree.
NFIB’s Uncertainty Index increased to 91 in July, remaining well above its historical average. Sales expectations also softened slightly even as overall confidence improved.
That combination captures the current small-business environment remarkably well.
Owners are optimistic enough to invest.
They are cautious enough to know conditions can change.
That may actually be a healthy combination.
The businesses positioned to perform best in the next phase are unlikely to be those that expand at any cost. They will be companies that grow selectively, recruit creatively, control expenses, preserve cash and remain close enough to their customers to recognize changes in demand early.
A New Phase for Small Business
Small-business optimism returning above its long-term average is meaningful. Rising business applications are meaningful too.
They show that entrepreneurs continue to believe there are opportunities worth pursuing despite a complicated economic environment.
But 2026 is also demonstrating that optimism alone does not build a successful company.
Execution does.
For entrepreneurs, the opportunity now is to turn improving confidence into stronger businesses without repeating the mistakes that often accompany rapid expansion.
The next winners in small business may not be the companies that grow the fastest. They may be the ones that learn how to grow without losing control.
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