Now's the Time for Rent Negotiations
Commercial landlords are becoming increasingly more amenable to rent leniency and even reduced rates as failing businesses threaten a wave of closures that could leave them without tenants for months or even years. Retail shops, restaurants and office tenants are finding themselves in a stronger position to ask for concessions after being turned away at the start of the pandemic. One advisory firm, A&G Real Estate Partners, told The Wall Street Journal it won concessions from 77% of landlords through most of 2020, saving clients $1.7 billion after renegotiating lease terms.
Have you successfully negotiated a new rate for your space? If you are a landlord, how have you handled these discussions with your own tenants?
It's a new year, and while the business landscape didn't change with the calendar, small business owners are hopeful that 2021 will deliver stability, along with the vaccine. But what tools should they be investing in, and how can they stay afloat until then? In his new book The Innovation Stack, Square Co-Founder Jim McKelvey writes about the skills owners need to rise above the competition—even Amazon.
On this week's Together In Business, McKelvey shared his thoughts on what 2021 holds for small businesses. Leave your own thoughts by commenting here.
Latinos' Push for Board Seats Grows
Hispanic business leaders are renewing their push for greater representation in U.S. boardrooms, per Bloomberg, since they already make up the largest ethnic group in the country. Advocates point to the fact that California Gov. Gavin Newsom signed a law last September requiring publicly traded companies based in the state to appoint directors from underrepresented communities to their boards. Meanwhile, rule changes requiring diversity will also be implemented by major fund managers this year and in 2022, and Nasdaq recently proposed new rules calling for more female directors as well as directors from other underrepresented groups.
In 2019, less than 3% of board members at Fortune 1000 companies identified as Hispanic, according to KPMG