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Consumer Outlook , Plunges Amid Fears of , More Price Hikes Ahead.<br/>CNN reports that sentiment about the economy among <br/>consumers in the United States has plummeted <br/>to the lowest level in the past six months.<br/>According to the latest consumer survey by the <br/>University of Michigan, consumers are also bracing <br/>for more price increases in the year ahead. .<br/>The consumer expectations gauge, <br/>which is closely monitored by the White House, <br/>dropped 13%, representing the most significant <br/>single month decline since mid-2021.<br/>The latest news is still better than <br/>last May when inflation was at 4% <br/>compared to the current 3.5% reading.<br/>However, CNN points out that despite inflation <br/>being lower than the same time last year, the numbers <br/>have been moving in the wrong direction.<br/>The trajectory has shifted <br/>economist expectations for <br/>the Federal Reserve to cut rates. .<br/>The latest Fed report saw expectations <br/>for year-ahead inflation increase <br/>to 3.5% from the 3.2% forecast in April. .<br/>At the same time, long-run <br/>expectations for inflation also <br/>increased to 3.1% from April's 3.0%. .<br/>According to Chicago Federal Reserve <br/>President Austan Goolsbee, the latest data , \
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One in four female small business owners has taken a pay cut in the past year, according to new research.<br/><br/>The survey of 1,000 female small business owners examined how their experience has shifted in the past year and found that the down economy has forced a quarter of these business owners to cut their own pay to keep their businesses afloat.<br/><br/>For those small businesses that have been open for at least a year, many have also raised the price of their product or service (37%), and more than a quarter are actively seeking less expensive resources (27%).<br/><br/>Conducted by Talker Research for Office Depot, the survey found that 53% of female business owners said the past year has been the hardest for their business.<br/><br/>In 2023, respondents expressed challenges with funding (42%) and growing their business (30%), which continue to be the top struggles this year (39% and 30% respectively).<br/><br/>Experiencing fatigue was more of a pain point last year (23%), while marketing is proving to be a greater challenge this year (25%).<br/><br/>However, hard work has paid off for many female small business owners this year, allowing them to reach their 2023 goals: growing profit (goal of 59%, achieved by 26%), gaining more customers (goal of 53%, achieved by 41%) and expanding their business (goal of 28%, achieved by 12%).<br/><br/>And to keep the momentum going, respondents predict they’ll continue to uplevel and succeed through continued revenue growth (63%), gaining more customers (54%) and business expansion (27%). <br/><br/>But success is also about a lot more than dollars and cents. Twenty-one percent of respondents said success is all about making a positive impact in their community and a fifth (21%) included innovation as a success marker.<br/><br/>And while the next year looks to be more positive for female small business owners, there will still be challenges to overcome, with inflation (39%) and funding (25%) serving as the top concerns.<br/><br/>To overcome these challenges, female SBOs are throwing themselves into their work more often — but how much is too much?<br/><br/>Work-life balance improvements have slowed by 15% since last year, as only this year, 58% said their work-life balance has improved since becoming a business owner, compared to 73% who said the same last year.<br/><br/>Women surveyed feel they need to choose between their family and their profession multiple times every month, while one in eight feel this way every week.<br/><br/>And overall, 42% said being a business owner has made it more difficult to balance their outside work responsibilities.<br/><br/>To better balance their work and family life, those surveyed are committed to “cutting back on working hours,” “taking time for quiet reflection” and “being willing to take a day off as necessary.”<br/><br/>For respondents who set up their business in the last year, top reasons include wanting to be one’s own boss (59%), deciding to pursue a passion or hobby (46%) and drive to put an idea into action (41%).
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Much is up in the air in Latin America: Mexico may see its first-ever female president, the Argentine peso is collapsing amid the country’s highest inflation in three decades and Brazil’s new president Luiz Inácio Lula da Silva continues to wrestle with a deeply polarized political environment. But one thing is certain: billionaires in the region are booming, both getting richer on average and adding new members to their ranks.<br/><br/>The average Latin American billionaire’s net worth rose by 23% on this year’s World’s Billionaires list, which also welcomed 21 new faces from the region, compared to just 1 last year. In all, Forbes found 110 members in Latin America, worth a combined $530 billion, up from $413 billion in 2023.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/gigizamora/2024/04/04/the-10-richest-people-in-latin-america-2024/?sh=2717cbe67c84<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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