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- Category: Industry News
The US Chamber of Commerce, in conjunction with MetLife, has released its latest Small Business Index (SBI) for Q1 2024. The SBI is a survey of small businesses nationwide on numerous topics that have been impacting them during the past few months, including fiscal issues and other challenges.
According to the quarterly survey, small businesses continue to feel that the economy is stable, slightly more optimistic than last quarter (62.3 for Q1 vs. 61.3 for Q4 2023). For reference, the highest SBI in the past four years was Q3 2023 at 69.2, while the lowest occurred in Q2 2020—the height of the pandemic—at 39.5. The score has remained in the range of the low 50s to the low 60s most of that time.
With no surprise, most small businesses (52 percent) continue to report—for the seventh straight quarter—that inflation is their top concern. However, they were also more likely to say that the overall US economy was in good health—32 percent versus 25 percent from last quarter—and that their local economic outlook was good (38 percent versus 30 percent in Q4 2023).
Some additional points of data:
- 71 percent of companies said that they are adequately prepared for future threats, although 27 percent said that they are one threat away from shutting down their business.
- 80 percent said that they have a plan on how to change their business if a struggle arises.
- 62 percent reported having a rainy-day fund, with 61 percent claiming it’s adequate.
- A new threat emerges: 60 percent of companies claim that cybersecurity is among their chief issues, although 73 percent said they felt prepared should an attack happen to their business.
The full report is available here.
Visit uschamber.com for more information.
[04.09.24]
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- Category: Industry News
UPDATED 4/26
Have a 2024 event that you’d like to share? Let us know! Send an email to susan@chauffeurdriven.com or rob@chauffeurdriven.com and we’ll add your meeting/conference to our list of events in the monthly magazine, in our weekly newsletter, and on our website.
APRIL
4/2
NELA Quarterly Meeting (Framingham, Mass.)
nelivery.org
4/8-4/9
GNJMA Meeting & Sponsor Appreciation Dinner (Lahaska, Pa.)
gnjma.com/Events-Programs/Spring-Meeting-Sponsor-Appreciation-Dinner
4/16
CLA Membership Meeting (Denver)
cololimo.org
4/16
ILLBA Coffee With ILLBA (online)
illba.org
4/16
MLA General Meeting (Baltimore)
mdlimoassoc.org
4/17
PRLA Member Meeting (King of Prussia)
prlainc.org
4/22-4/24
GBTA Canada Conference (Toronto)
canadaconference.gbta.org
4/29
VLA Member Meeting (Ruckersville)
virginialimousineassociation.org
MAY
5/3-5/7
U.S. Travel’s IPW (Los Angeles)
ustravel.org/events/ipw
5/14-5/15
GBTA APAC Conference (Singapore)
apacconference.gbta.org
5/14-5/15
NLA Day on the Hill (Washington, D.C.)
limo.org
5/16
CLA Top Golf Networking Event (Thornton)
cololimo.org/events
5/20-5/22
Meeting Professionals International’s WEC (Louisville, Ky.)
mpi.org/events/wec24
5/21 **NEW DATE**
ILLBA Breakfast With ILLBA (location TBD)
illba.org
5/21-5/23
TTA Legislative Fly-In (Washington, D.C.)
thetransportationalliance.org/legislative-fly-in
5/21
LANJ General Meeting and Auction (Cedar Grove)
lanj.org
[04.02.24]
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- Category: Industry News
GBTA Applauds Prioritization of TSA Funding in FY 2024 Budget
The Global Business Travel Association (GBTA) commends the inclusion of a provision in the recently passed $1.2 trillion 2024 US federal government spending package, which reinstates revenue collected from airline ticket security fees back to the Transportation Security Administration (TSA). Part of the fee had been diverted to help reduce the federal deficit, starting in 2014, but the entire fee is now going to the TSA. The move is expected to fund the hiring of more TSA personnel and upgrade equipment to improve traveler safety and streamline services.
GBTA has long been advocating for those fees to be reinstated back to TSA and considers this news to be a major benefit for the business travel industry and business travelers.
“We’ve heard from our members and our industry how traveling for business could benefit from more convenience and consistency and TSA has coped with the challenges that arise from having to do more with less,” said GBTA CEO Suzanne Neufang. “This reallocation of funding will help further ease the friction the business travel community has faced, and GBTA will continue to advocate for even better and safer air, rail, and roadways for all travelers.”
The budget also includes funding for additional Customs and Border Protection officers as well as the potential for the Department of Homeland Security (DHS) to explore adding more preclearance locations, with a focus on the Indo-Pacific region. The appropriations package can be read here.
Visit gbta.org for more information.
USTA Praises Much-Needed Funding to Lower Visitor Visa Wait Times
U.S. Travel Association (USTA) is lauding the appropriation in the federal budget of $50 million to help the US State Department to speed up the visa wait times. This has been a long-fought battle for the association, as wait times have been more than a year in some cases.
“U.S. Travel applauds Congress for directing funding to address excessive visitor visa interview wait times, which currently average 400 days in top source markets. The State Department must now deploy these resources as quickly as possible to lower wait times and facilitate growth in inbound visitation,” says USTA Executive Vice President of Public Affairs and Policy Tori Emerson Barnes. “Further, U.S. Travel urges Congress to consider other critical measures like the Visa Processing Improvement Act (S.2632) to modernize the entire visa process, particularly as the US prepares for a decade of major international events.”
Visit ustravel.org for more information.
ABA Reacts to New Emissions Regulations
The US Environmental Protection Agency (EPA) recently released its phase 3 ruling for heavy-duty vehicles, which sets stronger emissions standards with the 2027 model year. Motorcoach associations like the American Bus Association (ABA), in conjunction with commercial vehicle industry organization Clean Feight Coalition, support “appropriate” climate initiatives, but are sounding the alarm on the accelerated shift toward electric vehicles, noting that “modern motorcoaches, powered by clean diesel, are among the most environmentally friendly modes of transportation.”
“…[T]he ABA expresses grave concerns regarding the EPA’s recent rule mandating a rapid shift to electric vehicles. This forced march towards electric vehicles will result in a significant increase in equipment costs, potentially doubling them. Moreover, the current lack of infrastructure and limited electric capacity make this transition impractical and financially burdensome for the industry and consumers,” says ABA President & CEO Peter Pantuso, who added that a gradual approach would allow for the needed infrastructure to catch up.
“…Rushing this process without adequate infrastructure and electric capacity will only burden the end user, the consumer, and the taxpayer with increased costs. The ABA urges policymakers to consider the long-term implications and feasibility of such a transition, emphasizing the need for a comprehensive plan that addresses the challenges associated with electric vehicle adoption. … This approach necessitates a comprehensive plan that addresses the challenges associated with electric vehicle adoption.”
Visit buses.org for more information.
[04.02.24]