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THURSDAY, JAN. 5, 2017 | IN THIS ISSUE
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 Root to take hold in downtown Iowa City
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The facade of the coming Root location in downtown Iowa City. CREDIT: Instagram
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An Iowa-born cosmetics retailer is bringing its third store to the Corridor, with a prime spot in the heart of Iowa City.
Waverly-based Root will open in Februrary on the Pedestrian Mall at the former Sicily Boutique, 115 S. Dubuque St, the Iowa City Downtown District announced this week. The shop will feature the brand's homemade, organic, gluten-free and vegan makeup, skin care and hair care products, while its storefront will take on the brand's "signature pink" appearance.
Root currently has stores in Waverly and Cedar Falls, and an active social media presence; the company counts more than 15,000 fans on Instagram and 10,000 fans on Facebook.
"Root is proud to be an Iowa born and raised company," Founder Krista Dolash stated in a news release. "Iowa City is the perfect place for Root, we love the local pride found here and we can't wait to be a huge part of it."
Ms. Dolash founded the company in October 2013 in her kitchen, with a mission to create natural, safe and affordable cosmetics. The company has grown to now offer a full line of natural makeup, skin care, hair care, body care and non-toxic cleaning products.
No opening date has been set yet. The company is looking to hire 12 for the new store, including two assistant managers.
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SBA launches 2017 InnovateHER competition
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Elizabeth Caven, of UpCraft Club. CREDIT: Gatehouse Pictures
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The U.S. Small Business Administration this week announced the launch of the 2017 InnovateHER business challenge, a nationwide business competition won by one of Iowa's own entrepreneurs in 2016.
InnovateHER provides an opportunity for entrepreneurs throughout the country to showcase products and services that have a measurable impact on the lives of women and families, have the potential for commercialization and fill a need in the marketplace.
Entrepreneurs will compete in local competitions for the chance to advance to the semi-final round. After that round, the SBA will select up to 10 finalists who will be invited to the national InnovateHER: Innovation for Women Business Challenge, to be held mid-2017. The finalists will pitch their products and ideas to a panel of judges and compete for the top three awards along with $70,000 in prizes.
Elizabeth Caven, the founder of
Des Moines-based UpCraft Club, was the first place winner in last year's competition, taking home $40,000 for her startup, which offers digital sewing patterns for download.
"The return of SBA's InnovateHER Business Challenge presents an exciting opportunity for some of our nation's foremost entrepreneurs and innovators," SBA Administrator Maria Contreras-Sweet said in a press release. "Women represent half of the U.S. workforce and control 80 percent of the nation's purchasing power, but still make up less than five percent of venture capitalists."
For more information including competition rules, visit the SBA's InnovateHER
website.
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Small business hiring mixed in December
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A chart showing the Paychex | IHS Small Business Jobs Index over the years. Hiring remains above pre-2004 levels but has been mixed over the past two years.
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Small business hiring picked up in December according to one measurement of small business employment, although not all the jobs data for the month looks rosy.
The Paychex | IHS Small Business Jobs Index rose 0.10 percent in December, to 100.49, ending three months of declines in the index and indicating that hiring is on the rise. The year, however, was marked with volatility, with the national index averaging 100.72 during the first half of 2016 and 100.53 during the second. (The index number is scaled to 100 during 2004).
Seven of the eight industries analyzed for the Paychex | IHS index increased in December, while manufacturing declined.
Payroll processor ADP, meanwhile, reported that employers added just 153,000 private-sector jobs in December, which was below market expectations of around 172,000 jobs,
according to MarketWatch. The number was also lower than November, when 215,000 jobs were added.
According to ADP, mid-sized businesses added 71,000 jobs, while small businesses added 18,000. All of the month's gains were in the service sector, with goods producers registering a loss of 16,000 positions and manufacturers losing 9,000.
The U.S. Labor Department will release its December jobs report on Friday, which includes government and private sector jobs. Economists polled by MarketWatch expect that report to show 183,000 jobs added, 5,000 more than November.
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Marion Maid-Rite announces end of 31-year run
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The Marion Maid-Rite, shown at the corner of Seventh Avenue and 10th Street in Uptown Marion.
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The Marion Maid-Rite restaurant that has become a landmark at the corner of Seventh Avenue and 10th Street in Marion will be closing Jan. 31.
With a lease expiring, new corporate franchise requirements taking effect and a desire by family members to try other things, "it just boiled down to, 'our time is up,' said Teri Entas, manager and daughter of founders Tom and Ellie Osborn.
Ms. Entas said customers were shocked when the closing decision was announced Sunday on Facebook, and not just because the business has been operating for so long, but because it's a busy restaurant.
"Business has been good," she said. "We want to go out on top."
One of the factors driving the decision was new corporate franchise standards. Ms. Entas said some of these standards would have required the restaurant to change from the old Maid-Rite seasoning formula the restaurant had been using to a newer formula used at most other stores, and also would have ended its longtime practice of sourcing the beef for its sandwiches locally.
The main factor, however, was a desire to explore other things in life. Ms. Entas had been managing the restaurant for more than 20 years, and is "ready to move on and see what's in the next chapter," she said.
The restaurant was opened in January 1986 by Ms. Entas' parents. Mr. Osborn died in November 2002, and the restaurant is now operated by Ms. Entas, Nicole Ashby and Ms. Osborn.
Announcing the closing a month early will give longtime customers a chance to say goodbye, Ms. Entas said, and most employees appear willing to stay with the restaurant for the duration.
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The federal government is reminding small businesses that they must begin using a revised version of Form I-9 this month.
U.S. Citizenship and Immigration Services (USCIS) in November published a revised version of Form I-9, which verifies an employee's identity and work eligibility. It has given employers until Jan. 22 to begin using the new version, dated Nov. 14, 2016.
The changes were designed to reduce errors and enhance form completion using a computer, the agency said in a statement. Among the changes in the new version, Section 1 asks for "other last names used" rather than "other names used," and streamlines certification for certain foreign nationals.
Form I-9 requirements were established in November 1986 when Congress passed the Immigration Reform and Control Act (IRCA). IRCA prohibits employers from hiring people, including U.S. citizens, for employment in the United States without verifying their identity and employment authorization on Form I-9.
For more information or to access the updated I-9, visit the USCIS
website.
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Consulting: Keeping small business in the family
In this week's consulting spotlight, CBJ columnist Jean Kruse offers some advice and things to consider before going into business with family:
According to the U.S. Small Business Administration, family businesses comprise 90 percent of all business enterprises in North America and 62 percent of total U.S. employment.
So why are there always so many warnings about going into business with relatives?
Although some examples of imploding family businesses have been exaggerated, operating a business with a spouse, parents, siblings, children or other family members does pose some unique risks above and beyond those of non-family enterprises. The dynamics and emotional ties among family members can influence what they do and say, making it difficult to criticize or discuss certain topics.
On the other hand, the same connections that create a happy family can also add an extra dimension of loyalty and commitment, which can help a small business achieve higher degrees of success.
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From around the web:
- ISU's Startup Factory has unveiled its second cohort, the Des Moines Business Record reports.
- Congress has killed a plan that could have cut federal contracts with small businesses by as much as 25 percent, Forbes reports.
- Inc.com details the five social media trends your business needs to know about in 2017.
- The Harvard Business Review offers advice for getting an employee to work faster.
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Be the thought leader
Forward the FREE, weekly CBJ on Small Business newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters
here, or check out our other subscription options
here.
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Corridor Stocks
| NAME |
SYM |
PRICE |
CHG |
%CHG |
| AEGON |
AEG |
5.665 |
-0.025 |
-0.44% |
| Alliant Energy |
LNT |
38.12 |
-0.04 |
-0.10% |
| Deere & Company |
DE |
105.34 |
-0.48 |
-0.45% |
| Dow Jones |
^DJI |
19,899.29 |
-42.87 |
-0.21% |
| General Mills |
GIS |
62.25 |
0.18 |
0.29% |
| GoDaddy Inc. |
GDDY |
34.83 |
-0.50 |
-1.42% |
| Great Western Bank |
GWB |
43.43 |
-0.82 |
-1.85% |
| Heartland Express |
HTLD |
20.25 |
-0.35 |
-1.70% |
| KemPharm |
KMPH |
3.40 |
-0.15 |
-4.23% |
| Marsh & McLennan |
MMC |
68.31 |
0.02 |
0.03% |
| MidWestOne |
MOFG |
37.61 |
-0.48 |
-1.26% |
| Pearson |
PSO |
10.10 |
0.17 |
1.71% |
| Pepsico |
PEP |
104.69 |
-0.16 |
-0.15% |
| Principal Financial |
PFG |
58.53 |
-0.58 |
-0.98% |
| QCR Holdings |
QCRH |
41.85 |
-0.85 |
-1.99% |
| Rockwell Collins |
COL |
92.70 |
-0.6 |
-0.64% |
| S&P 500 |
^GSPC |
2,269.00 |
-1.75 |
-0.08% |
| Tanger Factory |
SKT |
37.01 |
-0.16 |
-0.43% |
| Procter & Gamble |
PG |
85.06 |
0.56 |
0.66% |
| United Fire Group |
UFCS |
48.44 |
-1.16 |
-2.34% |
| U.S. Bank |
USB |
50.97 |
-0.87 |
-1.68% |
| Wells Fargo |
WFC |
55.18 |
-0.87 |
-1.55% |
| West Bank |
WTBA |
24.45 |
-0.35 |
-1.41% |
| Whirlpool |
WHR |
186.04 |
0.62 |
0.33% |
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Short-Term Event Planner
Jan. 5
Policy on the Rocks,
by Cedar Rapids Metro Economic Alliance, 4:40-5:30 p.m., Sauce Bar & Bistro, 1507 C St. SW, Cedar Rapids. Policy on the Rocks is a casual event that gives lawmakers and members the opportunity to network and discuss important issues in a relaxed environment. The first Policy on the Rocks of 2017 takes place just before legislators return to the state capital to begin their work. Free. To register, visit http://bit.ly/2hf6VGz.
Jan. 9
How to Navigate HireaHawk for Employers,
by the University of Iowa Pomerantz Career Center, 10-11 a.m., online at bit.ly/2j55NpR. This webinar is for employers recruiting for internships and full-time positions on the HireaHawk website. It will describe the new interface in detail and experts will be available to answer questions. Register online at bit.ly/2j55NpR.
Coralville Roundtable - Radisson Hotel and Conference Center,
by the Iowa City Area Chamber of Commerce, noon-1 p.m., 1220 First Ave., Coralville. Roundtables are social lunches over the noon hour. All are invited to network, keep up to date with chamber and community events and frequent a member restaurant or business. Free. For more information, call the chamber at (319) 337-9637.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
An early morning house fire in Iowa County sent a family of five out into freezing morning temperatures. The house fire broke out on 4452 V Street in Homestead. Several fire crews responded to help put the flames out around 1 a.m. The family was able to get out of their home safe. Our CBS2/FOX28 crew on the scene reported the fire broke out on the home's second floor. CBS2/FOX28 News will keep posted as more details come in. A GoFundMe page has been created for the family who lost their home. You can find a link
here.
T
hese news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails'
Weather First Forecast
Today's temperatures will be between 4-14 degrees and skies will remain cloudy. Wind chills will be below zero for the next few days. This evening, temperatures will reach below zero, but skies will be clear.
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