This week in Homebase News we cover a recent study on small businesses and cyber attacks, a $30 minimum wage for Uber and Lyft drivers, Adobe’s new tool for business owners, and more. Read below to get the details on these stories and other happenings involving local businesses and hourly workers.
Study: Majority of Small Businesses Don’t Take Cyber Attacks Seriously
The study comes after a report by Verizon found that while cyber attackers have targeted enterprise-level businesses more frequently in the past, 43% of all cyber attacks are now aimed at small to medium-size businesses.
In addition to these findings, the study also revealed that only 9% of small business leaders listed cybersecurity as a top priority, and 25% said they have “no idea where to start” when it comes to creating a strategy for digital security.
Adobe Releases Tool to Help Digitize Small Businesses
Adobe introduced a new tool that lets small businesses digitize signing documents and integrates with Adobe Scan and Adobe Reader.
According to their website, Adobe Sign allows you to “stop chasing down signatures and get documents signed in minutes — not days” and “give your customers a convenient, modern way to sign electronically that also grows your business.”
“Adobe Sign for small business, helps digitize paper-based processes for anyone who wants to move on from pen, paper, printer and filing cabinets,” Adobe Group Product Marketing Manager Lisa Croft told Small Business Trends. “It is applicable and necessary for any business who cares about their bottom line.”
San Diego Named Top City for Work-Life Balance
Kisi scored cities on work intensity, hours worked per week, commute times, vacation days taken and more and found that the top five cities for work-life balance are San Diego, Portland, Oregon, San Francisco, Minneapolis, and New York City.
“This index is not designed to be a city livability index, nor is it intended to highlight the best cities to work in,” the company said. “Instead, it aims to be a guideline for cities to benchmark their ability to support the fulfillment of residents’ lives by improving the aspects of life that help relieve work-related stress and intensity.”
On the opposite side of the spectrum, the worst cities for work-life balance were determined by the study to be Washington D.C., Houston, Atlanta, Seattle, and Chicago.
How Could the Next Round of Tariffs Affect Small Business?
Financial services company Quickbridge president Ben Gold said President Trump’s announcement of a new 10% tariff on more than $300 billion in Chinese goods caused a “crazy” uptick in small business loan applications.
Gold said the increase in loan applications isn’t always good because small business owners often overreact to tariffs and take on too much debt.
“When the first round of tariffs happened, we saw a bunch of activity toward the end of last year, and our portfolio did not perform all that great,” Gold told Inside Sources. “A bunch of small businesses tried to buy a bunch of stuff in anticipation of tariffs and maybe overbought or overreacted and that impacted their ability to repay. I hope that’s not the case again where they try to jump out ahead and take on more debt than they should have.”
Gold recommended business owners take a “wait and see” approach on tariffs given the constant flux trade relationship between America and China.
Calif. City Votes to Give Uber & Lyft Drivers $30 Minimum Wage
El Monte city council members told city officials to draft a law that would guarantee Uber and Lyft drivers a minimum of $30 an hour after a unanimous vote.
This minimum wage would be the highest in the country for ride-hail drivers. The pay is intended to give drivers $15 an hour for take-home pay, as well as another $15 an hour to cover vehicle operations and gas. It comes after the Mobile Workers Alliance, a branch of the Service Employees International Union, Local 721, put pressure on city officials.
“Currently, workers who are working for companies like Uber and Lyft are working lots of hours and still making less than minimum wage,” union organizer Coral Itzcalli said. “On average, we hear from workers that they’re working daily 12 to 16 hours a day. That translates to tired people behind the wheel on already congested public roads. And no one should put their life or the life of someone else at risk by being so tired behind the wheel just because they’re trying to earn the pennies on the dollar that Uber and Lyft is paying them.”