THRIVE, a Paychex Business Podcast
Warning to Businesses: Brace for Impact of U.S. Debt

Warning to Businesses: Brace for Impact of U.S. Debt

October 21, 2021

Hard times are coming for the ship of state, says economic analysts Antony Davies and James R. Harrigan. As Congress raises the U.S. debt ceiling again, while the national debt and government overspending spiral past the bounds of reality, harsh outcomes loom on the economic horizon, they warn. How can businesses prepare to minimize the painful realities that could come sooner than preferred? Don’t miss Part 2 of this conversation on debt, inflation, and what’s showing in the lines of our national ledger.

Topics include:

2:28 - Debt ceiling, overspending, inflation
5:31- Social Security insolvent in 10 years
6:55 - What's your $20 worth?
8:00 - Could the U.S. default on its debt?
15:00 - Historic debt trends
16:37 - Constitutional concerns
18:53 – Is U.S. debt too high to pay off?
22:46 - Takeaway? We’re bankrupt
23:05 - Preparing for financial pains ahead
25:17 - Two blows to business in new tax plan
27:50 - Hope in the people's productivity

Resources:

Got an idea for a topic or guests for the show? Submit your suggestions at:
http://payx.me/thrivetopics.

Listen in to the Words & Numbers podcast by Antony and James at www.patreon.com/wordsandnumbers.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Brace for Impact: The Coming Pressures of Inflation

Brace for Impact: The Coming Pressures of Inflation

October 19, 2021

The signs are clear: inflation isn’t just on the way, it’s already here. That’s what economic experts Antony Davies and James R. Harrigan tell host Gene Marks in this episode, the first of two on inflation, U.S. debt, and the nation’s economy. How did we get here, and where might we be going? Whether rising prices, Federal Reserve actions, supply chain shortages, or labor force impacts have you concerned, hear the steps they recommend to buffer your small business for the bumpy road ahead.

Topics Include:

2:11 - The misinformation around inflation
6:07 -  Modern Monetary Theory (MMT) 
12:05 - Why more gov’t money spurs inflation
14:30 - Supply chain shortages and price jumps
16:57 – Are CPI increases tied to extra unemployment benefits?
20:09 - Shortages in labor, and on shelves
22:40 - Borrowing in the face of inflation
27:06 - Is inflation ever "good?"

Resources:

Could long-term debt be a tool you leverage to grow your business? Learn more at: www.paychex.com/articles/finance/long-term-debt-expand-your-business

Got an idea for a topic or guests for the show? Submit your suggestions at:
http://payx.me/thrivetopics.

Listen in to the Words & Numbers podcast by Antony and James at www.patreon.com/wordsandnumbers.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Shake It ’Til You Make It: Zumba® Creator Beto Perez’s Rise to Success

Shake It ’Til You Make It: Zumba® Creator Beto Perez’s Rise to Success

October 12, 2021

Zumba® creator Beto Perez, a native of Colombia, brought his passion for music and dance into the fitness world and took it by storm. His story epitomizes the American dream for entrepreneurs: starting with nothing but a vision and hard work, then watching it succeed beyond imagination. Zumba dance workouts and classes are beloved by millions, and now reach more than 185 countries, while the brand includes instructor certification, sub-brands, and apparel. Celebrate Hispanic Heritage Month with this inspirational story from one of Latin America’s most renowned entrepreneurs.  

Topics include:

1:32 - Childhood love of dance
3:07 - First dance job at age 15
6:45 - Lambada dance competition win leads to more success
11:01 - Arrival in America and a key audition
13:47 - Choosing a future business partner
15:32 - The sales pitch that started it all
18:20 - Shifting the business model
19:49 - Scale, global success of Zumba fitness
21:46 - Adding new products to the brand
24:41 - New gym: City Zero
27:30 - What’s next? Sub-brand and … movie?

Resources:

Want to suggest a potential guest or topic for a future THRIVE episode? Share your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

It’s Not Business as Usual for Retail

It’s Not Business as Usual for Retail

October 5, 2021

While you thought e-commerce and the pandemic might signal the end of retail, it’s alive and well, says Tom McGee, president and CEO of ICSC. Thanks to tech innovations, changes to physical store layouts, and a shift to service customers’ last mile of delivery, retail has been reborn. Further, a look beyond the shopping malls of yesterday will show that essential retailers and experience-oriented service providers have transformed commercial real estate hubs into modern centers of community life.

Topics include:

1:46 - ICSC's historic roots, current focus
3:14 - Convergence in retail real estate service communities
6:42 - Shift to service, experience trends in retail properties
9:05 - Advice to retail entrepreneurs
11:40 - E-commerce, technology impacts on store layouts
15:39 - Increase in leasing demand
18:13 - Benefits of stores as last mile of delivery
23:49 - Growth opportunities across the U.S.
25:20 - Retail’s potential in the modern marketplace

Resources:

Learn whether buying an existing business may be right for you:
www.paychex.com/articles/startup/pros-and-cons-of-buying-a-business.

Concerned how to protect your commercial property from unexpected impacts? Read our article, Should I Have Commercial Property Insurance? at 
www.paychex.com/articles/employee-benefits/what-is-commercial-property-insurance.

Read our Top Small Business Trends to Know for 2021 at www.paychex.com/articles/management/small-business-trends.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.