Is your business holiday season ready?

Welcome to Midnight Oil: Resources & Tips! This week's edition features resources for businesses unsure of how to price their goods and services, making the most of the year’s biggest shopping season, and an upcoming event to prepare you for the next wave of COVID-19.?

This is the condensed version of CO- by the U.S. Chamber of Commerce’s weekly Midnight Oil newsletter. Sign up to receive the full version packed with small business news you can use.

Top Tip of the Week

“Businesses have to be a lot more surgical about where to take price increases and where to not take price increases; otherwise they risk losing market share and losing sales volume.”

— Susan Lee, Commercial Strategy Leader for EY-Parthenon Americas

Make your holiday season merry and bright

2022 hasn’t been an easy year, especially for small businesses. Staffing shortages, bloated inventories, and inflation are just a few of the challenges plaguing entrepreneurs, with new hurdles popping up seemingly every day.?

Because of this, retailers large and small are worried about how they will effectively drive sales and grow this holiday season, but there are steps you can take to get ahead of the game and prepare. Major retailers from brands like Walmart, Michael Kors, and Shipt share their top concerns about the holiday season and steps they are taking to prepare – and ways you can, too.

Food for Thought

About a third of consumers are ready to jump-start their holiday shopping in October (this month!), despite inflation. So gear up your business for the holiday season by implementing these strategies and plans from big brand retailers.

Small Business Spotlight

Katherina Lacey, Co-founder, Quincus

Many entrepreneurs are sometimes too close to a problem to know how to solve it effectively on their own. That’s why Katherina Lacey, Co-founder of logistics solution company Quincus, suggests finding a business coach or professional to propel progress. As businesses grow, more complex strategic problems present themselves, so relying on your team can also help deal with the pressures and challenges of entrepreneurship. For Lacey, it’s easy to become siloed as an entrepreneur, but she practices self-reflection and mindfulness to identify when she needs to slow down and rely on her team.

Learn more about Quincus and the company’s pivot into logistics software solutions on CO–.

Grant Opportunities

• The annual Tory Burch Foundation Fellowship Program is underway, offering women entrepreneurs the opportunity to grow their businesses through workshops, coaching sessions, peer networking opportunities, and a $5,000 business education grant plus access to 0% interest loans. Applications close November 3.
• The Verizon Digital Ready grant supports small businesses through an online curriculum that provides learning modules, coaching, personalized tools, grant opportunities, and networking opportunities. Recipients will receive up to $10,000. To qualify, applicants must complete either two courses, coaching events, or community events before November 14.

Find more small business grants and funding opportunities here.

The CO— Corner

Path Forward

Join U.S. Chamber’s Suzanne Clark as she sits with CDC Director Rochelle Walensky to discuss the next wave of COVID-19. Have your questions answered in real-time and find out what you need to know, and ways to prepare your business for this upcoming fall and winter seasons.

Dream Big Awards 2022

Winners for the 2022 Dream Big Awards have been announced! Check out the list of sensational small businesses that joined us at our annual ceremony and see which business took home the $25,000 grand prize!

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