Gene Marks

New US tariffs are drawing far less concern from small businesses than earlier rounds because rates are generally lower, exemptions are emerging, and refunds from previous tariffs are reaching some companies. Gene Marks argues that lawsuits, court oversight and the time required for tariff approval give businesses room to respond. Entrepreneurs have adapted through alternative suppliers, domestic production, bonded warehouses, pricing changes and technology, while broader cost increases from inflation, energy prices and supply-chain problems have had a larger effect. Because most small businesses operate in sectors that do not rely heavily on imported goods, many are treating the latest tariffs as manageable rather than a major threat.

Small businesses are primarily using AI to help scarce employees work faster, reduce errors and serve more customers rather than to eliminate jobs. Examples include automating sales quotes and providing customer-support teams with rapid access to technical information. Continued employment growth, labor shortages, an aging US workforce and the limited readiness of robotics make worker replacement less practical for small firms. Business owners remain cautious about AI because of privacy risks, errors and unreliable technology, while larger corporations have more administrative headcount that can be cut through automation. The column concludes that AI is more likely to help Main Street save time, protect margins and retain workers than produce mass layoffs.

A 25-basis-point increase in the Federal Reserve’s policy rate would probably have little effect on established small businesses, whose borrowing costs and investment decisions depend more on expected demand than on a modest change in loan payments. Credit remains broadly available, technology and AI startups continue to attract substantial venture funding, and consumer spending and credit quality have held up despite higher rates. Risks remain, including rising small-business bankruptcies, tighter lending standards and potential stress in the $5.1tn leveraged-finance market, but major bank executives continue to describe the US economy and the financial health of consumers and businesses as resilient.

Workplace “rust-out” describes employees who feel bored, understimulated and disconnected from their jobs, often doing only the bare minimum. While poor management and stagnant workplaces can contribute, many jobs at small and midsized US businesses are inherently routine, limiting how much employers can do to make them exciting. Employees are therefore encouraged to identify new responsibilities, seek opportunities within their organizations and take personal responsibility for finding challenge, meaning and fulfillment—while also recognizing that some people may be content with stable, repetitive work.

US small-business owners have largely stopped treating Donald Trump’s tariffs as a major concern after adapting to higher costs, raising prices, and benefiting from continued consumer demand, tax deductions and technology-driven productivity gains. Businesses that paid tariffs under an authority later rejected by the Supreme Court are expecting refunds, while newly proposed tariffs are viewed as limited, temporary and likely to face legal challenges. The column argues that courts and Congress have constrained Trump’s power, making tariffs less consequential for most companies and vulnerable to reversal by a future administration.

Rising credit-card delinquency, which reached its highest level in 15 years according to Federal Reserve Bank of New York data, highlights the risks of excessive borrowing. However, credit cards also provide important working capital for small businesses, simplify transactions, offer fraud protections and can help build credit when balances are paid promptly. The recommended approach is moderation: avoid unnecessary spending, create a spending plan and consider lower-interest refinancing options rather than abandoning credit cards altogether.

Many workers, particularly older Americans, fear they are not saving enough for retirement as healthcare, housing, education and food costs rise. For people with disposable income, the column argues that the problem can be addressed through two broad choices: increase income by negotiating pay, changing jobs, starting a business or learning new skills, or reduce spending on discretionary purchases and major lifestyle commitments. It also recommends maximizing 401(k), Roth and health savings account contributions, using automatic savings transfers, setting savings targets and considering whole life insurance. The author acknowledges that lower-income households and people managing family responsibilities face genuine constraints, but maintains that retirement security is achievable for many through deliberate financial trade-offs.

The US government has begun processing refunds for tariffs imposed under Trump’s use of the International Emergency Economic Powers Act, potentially benefiting around 330,000 importers that paid more than $166bn. Businesses generally must have their original customs broker submit electronic claims through the ACE Secure Data Portal, with eligibility initially focused on shipments liquidated within the previous 80 days. Despite some technical problems, the process is operating, and businesses should expect refunds in roughly 60 to 90 days while accounting for broker fees and the taxability of refunds received in 2026. FedEx, UPS and DHL have pledged to pass refunds to customers, while Amazon, Apple and Costco have not committed to doing so.

The four-day workweek is gaining support through legislation, pilots and company experiments, but many employers resist it because the label suggests paying workers for fewer hours. Small and mid-sized businesses generally need more labor and prefer AI to increase productivity within a 40-hour week. The article argues that shorter schedules are already widespread through remote work, compressed shifts, paid leave and flexible Fridays, and suggests reframing the model as a performance- or results-based compensation system to make it more appealing to employers.

About 422 independent bookstores opened in the United States in 2025, a 31% increase from the previous year, challenging expectations that retail consolidation would eliminate small businesses. Their resilience is attributed to local community ties, distinctive product offerings, flexibility, entrepreneurial drive and stronger personal relationships with employees, suppliers and customers. Although independent businesses face greater exposure to inflation, tariffs, regulation, technology disruption and limited resources, their ability to serve niche markets and make quick decisions gives them advantages that large chains cannot replicate.

Gene Marks criticizes workplace trends such as microshifting, coffee badging, quiet quitting, career cushioning, quiet vacationing, task masking, quiet cracking and resenteeism, arguing that they are different forms of avoiding work while continuing to receive pay. He contends that employers may view such behavior as a form of wage theft and will ultimately dismiss underperforming employees. Despite a softer economy, a weaker job market and concerns about AI-driven unemployment, Marks argues that workers who demonstrate discipline, a strong attitude and consistent performance will remain in demand.

Millions of baby-boomer owners of US small and midsize businesses are expected to retire over the next decade, but many service businesses may have little transferable value because they depend on the owner, lack contracts and hard assets, and have few durable processes or brands. Owners can pass businesses to interested family members, invest in infrastructure and management to make them saleable, or build personal savings rather than rely on a sale. The transition could nevertheless create an opportunity for younger entrepreneurs to acquire established operations, retain retiring owners as mentors, and improve businesses with existing customers, employees and relationships.

The Small Business Administration’s decision under administrator Kelly Loeffler to deny loans to noncitizen business owners, including legal permanent residents, is presented as both economically harmful and politically motivated. The agency is criticized for serving the messaging priorities of successive administrations rather than focusing on entrepreneurs’ needs for capital, training and support. The proposed solution is to spin the SBA off into a partly government-funded entity governed by public officials, business leaders and nonprofits, with congressional oversight and accountability requirements designed to protect its mission from political cycles.

AI could replace millions of office jobs and potentially enable a form of universal income, freeing people from commuting, meetings and repetitive administrative tasks. Rather than viewing automation solely as a threat, the piece argues that it may allow people to pursue family, leisure and other meaningful activities, provided governments and societies manage the transition fairly and avoid undermining the opportunity through poor implementation.

Businesses affected by Donald Trump’s tariffs should not expect quick refunds after the Supreme Court ruled that he exceeded his authority in imposing the levies. The administration may recreate much of the tariff regime under other trade laws, while refund claims have been sent to lower courts and lack a formal process. Customs brokers may have to represent importers, and large companies including FedEx, Costco, Toyota and Goodyear are pursuing litigation. Congressional legislation or a broad class action could eventually secure repayments, but political division, prolonged appeals and high legal costs make recovery uncertain and potentially years away.

Economic uncertainty, corporate layoffs and the prospect of AI-driven automation are encouraging workers to remain in their jobs for security and stability. Gene Marks argues that this “job hugging” is a dangerous long-term strategy because it discourages skill development, risk-taking and adaptation. He advises dissatisfied employees to seek new opportunities while they still have the negotiating advantage of being employed, while urging workers to help their employers adapt to technological change.

Gene Marks argues that consumers should avoid publicly trashing small businesses after bad experiences because viral criticism can cause disproportionate and potentially fatal damage without revealing the full circumstances behind an incident. He recommends offering private feedback, praising good service publicly and reserving aggressive online campaigns for large corporations that have the resources to withstand them.

Many employers are expected to give standardized “peanut butter raises” averaging about 3.5% in 2026, with more than 40% reportedly using or considering the approach. Gene Marks argues that equal raises ignore differences in employee performance and allow managers to avoid meaningful evaluations. Citing research showing widespread dissatisfaction and distrust in performance reviews, he recommends specific goals, twice-yearly merit-based raises, annual incentive bonuses, and regular feedback, with flexibility, paid time off or title changes as possible rewards.

Multiple small-business indexes indicate that US small businesses ended 2025 with rising optimism, modest sales and employment growth, easing cost pressures, increased capital investment and improved confidence heading into 2026. NFIB, Fiserv, Comerica Bank and Intuit data point to resilience, although agriculture, retail, trucking and service businesses continue to face tariffs, inflation, regulation, competition, labor shortages and rising healthcare costs. Overall, a significant majority of small-business owners expect revenue growth and generally favorable conditions in 2026.

Employees should not avoid taking accrued vacation out of fear of job insecurity, economic weakness or AI-driven replacement. Gene Marks argues that paid time off is part of compensation and that employers should honor it, while workers can make vacations feasible by delegating, sharing responsibilities, communicating plans and using technology productively. Although checking in briefly may help maintain continuity, AI is currently more likely to require oversight than eliminate jobs; over time, it could improve productivity and enable more time away from work.