Learn about the company that sells bear market insurance, how Bill Gates-backed Republic Services turns junk into big bucks, and more for small business owners | Business Insurance

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meInflation continues to hit small businesses hard. Some 85% of small business owners respondents expressed concern about inflation, while 67% have raised prices in response to inflation, according to data from MetLife and the US Chamber of Commerce.

While fears of a recession have persisted for some time, Forbes Contributor Rohit Arora writes that inflation is always happening, and therefore small business owners need to be prepared. This is how Main Street can survive rising costs and an impending recession.

Many companies are cutting back on unnecessary expenses and coming up with new ways to generate sales. Sometimes, though, the best time to sell stuff is when the world is falling apart. That’s true for Simplify Asset Management, which sells insurance against bear markets. Paul Kim and David Berns co-founded Simplify Asset Management, which markets exchange-traded funds that protect portfolios from disasters like stock market crashes and spikes in interest rates.

While the 23-employee company isn’t in the black yet, Kim hopes it will be soon. “ETFs are like a movie studio,” Kim said. Forbes. “You’re looking for a blockbuster to finance the business.” He won’t admit he’s praying for a catastrophic bear market in stocks or bonds, one far worse than we’ve ever had, but such an event would likely deliver that blockbuster, he writes. Forbes Principal contributor William Baldwin. Read more about the company here.

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How Bill Gates-Backed Republic Services Turns Trash Into Big Money

Junk was the quintessential commodity business until a young McKinsey consultant saw how Republic Services could transform itself into a profit machine by pricing all kinds of junk at a premium. He is now the CEO of the scrap metal giant, which made $11.3 billion in sales in 2021 thanks to its 198 landfills and 71 recycling centers and collection routes in 41 states.

key quote: “Trash is worth a lot more than we ever thought.”—Jon Vander Ark, CEO of Republic Services


Must-read on Forbes

There are growing signs that an economic recession is looming: the Fed raised interest rates again last week, the economy contracted in the second quarter, and in the face of all this, seed funding has dwindled considerably. This makes it even more impressive for businesses that keep rolling. Take business-to-business payments software Balance, for example, which raised its valuation to $356 million after a recent equity funding round that brought in $56 million.

A little-known CEO of Goldman Sachs-backed logistics software company Slync.io was living large just a few weeks ago, flying his private jet to exclusive golf tournaments and buying luxury cars. But now the 34-year-old executive, Chris Kirchner, has been suspended from his post after a Forbes investigation that found some employees went unpaid for nearly two months and were fired after asking questions about company funds.

Most of the most valuable startups in the US were founded by immigrants, according to a report released last month by the National Foundation for American Policy, authored by Forbes collaborator Stuart Anderson. In fact, 64% of US unicorns, private companies valued at $1 billion or more, were started by immigrants or children of immigrants.

If you’re looking to grow your small business’s customer base, one thing you need to make sure you do is create a strong profile on Google – over 60% of customers check Google reviews online before coming to a business. . Here’s what you can do to make your reviews plentiful and strong.

Last month, about 100 vendors from black-owned businesses set up shop in the nation’s capital on a Sunday afternoon for the city’s first “Black on the Block” celebration. In keeping with a tradition that began in Los Angeles last year, the movement’s takeover of Franklin Park, done in partnership with Buffalo Bills wide receiver and DC native Stefon Diggs, drew about 5,000 people. Read more here.