Small Business Owners Expectations for Higher Sales Declined in January 

The NFIB Small Business Optimism Index decreased two points in January to 89.9, marking the 25th consecutive month below the 50-year average of 98.

The net percent of owners who expect real sales to be higher declined 12 points from December to a net negative 16 percent (seasonally adjusted), a very negative shift in expectations, officials said. 

“Small business owners continue to make appropriate business adjustments in response to the ongoing economic challenges they’re facing,” said NFIB Chief Economist Bill Dunkelberg. “In January, optimism among small business owners dropped as inflation remains a key obstacle on Main Street.” 

State-specific data is unavailable, but NFIB South Carolina State Director Ben Homeyer said, “Inflation continues to have a big impact on Main Street. It’s driving up the cost of operating a small business, and it’s affecting people’s shopping habits. Our members are hopeful that the General Assembly will do something this session to relieve some of the financial pressure they’re under.”

Key findings of the national survey include: 

* The frequency of reports of positive profit trends was a net negative 30 percent, five points worse than in December and a very poor reading, officials said.

* Twenty percent of owners reported that inflation was their single most important problem in operating their business, down three points from last month and one point behind labor quality as the top problem. 

* Small business owners’ plans to fill open positions softened, with a seasonally adjusted net 14 percent planning to create new jobs in the next three months, down two points from December and the lowest level since May 2020. 

* Thirty-nine percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, down one point from December and the lowest reading since January 2021.

Countybank, Greenwood Capital Pledge More Than $73k to United Way

Countybank and Greenwood Capital donated $73,552 as part of their annual fundraising campaign to United Way, which was then distributed per associate-based donations to their respective local United Way organizations in the Greenwood, Greenville/Greer, and Anderson communities.

Associates made personal pledge donations totaling $47,602 as part of the employee campaign, plus an additional $3,950 as part of the organization’s monthly Casual for a Cause fundraiser. The Countybank Foundation provided an additional campaign contribution of $22,000.  

“Countybank and Greenwood Capital’s annual fundraising campaign is our company-wide effort to give back and is centered around our mission To Serve Our Communities,” said R. Thornwell Dunlap III, president and CEO of  Countybank. “It gives both our organization and associates an opportunity to make noticeable, positive impact in our  local communities.” 

This year, Dunlap received the United Way of the Lakelands Shining Star Award, which is presented annually to an individual, business, or organization who exemplifies leadership through their support of United Way’s mission and  vision.

“Not only does Mr. Dunlap lead by example, but he is an advocate for our cause and encourages his employees, staff, and administration to invest/reinvest their time, service, and resources back into our community as well,” said Marisel Losa, president and CEO for United Way of the Lakelands. 

Countybank and Greenwood Capital hold an annual fundraising campaign to support local services and programs focusing on education, financial stability, health, and basic needs throughout the Greenwood, Greenville, Greer, and Anderson communities.

This year’s fundraising campaigns were led by campaign co-chairs Dustyn Attaway, Universal associate, and Patrice Freeman, Customer Relations manager for Countybank, in Greenwood, Eva Drake, Mortgage consultant for Countybank Mortgage, in Greenville, and Carrie Logan, Retail Banking administrator for Countybank, in Anderson.

Countybank and Greenwood Capital have also historically supported United Way through their monthly Casual for a Cause fundraiser. 

United Way of the Lakelands, United Way of Greenville County, and United Way of Anderson County all serve their respective communities and fundraise through employee campaigns, grant funding, and corporate and private donations.

They provide struggling families with financial assistance and support programs that address food insecurity, childhood literacy and health care access.

Founded in 1933, Countybank is a community-oriented financial services provider with locations across Upstate South Carolina in the Greenwood, Greenville, Simpsonville, Greer, and Anderson communities.

In addition to a full array of traditional deposit and loan products, which include worldwide access via mobile and online banking, Countybank also provides products and services through Countybanc Insurance Services, Inc., Countybanc Investment Services, Inc., Countybank Mortgage, Countybank Trust Services, and its affiliate, Greenwood Capital.

Manufacturing Madness Is Back!

The South Carolina Manufacturers Alliance (SCMA) has launched the 3rd annual Manufacturing Madness contest.

Presented by BlueCross BlueShield of South Carolina, Manufacturing Madness is a bracket-style competition that engages the public to select the “Coolest Thing Made in South Carolina.”

Since its inception, more than 321,000 votes have been cast and more than 250 different SC-made products have competed for the coveted title of “The Coolest Thing Made in SC.” 

The F-16 Fighting Falcon made by Lockheed Martin in Greenville won the contest in 2023, and Steel made by Nucor Steel Berkeley in Huger won the inaugural contest in 2022.

Nominations can be submitted at www.scmanufacturingmadness.com until Feb. 22. 

Any product manufactured in South Carolina can be nominated. There will be several rounds of voting to narrow down products until one is chosen as the winner.

2024 Contest Timeline:

February 12 - February 22: Nominations period

February 26 - February 29: Popular vote

March 4 - 7: First round of bracket voting for Top 16

March 11 - 14: Second round of bracket voting for Top 8

March 18 - 21: Final round of bracket voting

March 28: Winner announced at the Statehouse.

“Manufacturing Madness is a celebration of our innovative and diverse manufacturing industry, as well as the thousands of skilled men and women who produce world-class products every day in the Palmetto State,” said Sara Hazzard, president and CEO of the South Carolina Manufacturers Alliance.

She added, “We are excited to once again spotlight the many amazing products made in South Carolina and tell the story of how manufacturing creates strong communities and economic prosperity across our great state.” 

Fun Facts: Valentine’s Day - February 14

According to the U.S. Census Bureau:

* In 2010, the median age for a first marriage in the United States was about 29 years old for men and about 27 years old for women. In 2022, the median age at which men in the United States first got married was about 31 years old. In 2022, the median age at which women in the United States first got married was about 29 years old.

* Of people aged 15 and older in the United States… 50 out of 100 (50 percent) had been married once. About 12 out of 100 (12 percent) had been married twice. About 3 out of 100 (3 percent) had been married three or more times. Approximately 34 out of 100 (34 percent) never have been married.

* About $217 million: The value of imports of all bouquet cut flowers in February 2023. About $117 million: The value of imports of fresh cut roses and buds, specifically, in February 2023.

Cities and Towns With the Loveliest Names:

• Loveland, Colorado (Population – 77,884)

• Romeoville, Illinois (Population – 40,117)

• Love Valley, North Carolina (Population – 163)

• Valentine, Texas (Population – 69).

*Population numbers from 2022.

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