Weekly 5: Recovery slow, but happening

September 25, 2012
Filed under Weekly 5

Editor’s Note: The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.

1. Census data: Recovery slow, but happening

The latest batch of census data from the American Community Survey shows some positive indicators for economic growth. Still, three years after the official end of the recession, the recovery is far from robust. Amongst the positives: there’s less doubling-up as people are moving out on their own and the declining birth rate is leveling off, both signs of increased confidence. On the negative side, household incomes were flat and the poverty rate continued to increase in many states.

2. Boating and fishing targeted for federal budget cuts

The Sport Fish Restoration and Boating Trust Fund could be in line for cuts under recommendations from the Office of Management and Budget if Congress doesn’t come to an agreement on reducing the deficit by the end of the year.

The sequestration cuts are part of a plan Congress agreed to in the Budget Control Act of 2011 and could still be avoided depending what the House and Senate do in the lame duck session. MRAA recently provided an update on the outlook for this fall.

3. No more free Facebook Offers

Facebook Offers, the social media giant’s promoted coupons, will no longer be a free service. This is a relatively minor service that not many small businesses were using, but it’s worth wondering, as some have speculated, if this is the next step in Facebook attempting to monetize more of businesses’ communication with customers.

4. Protecting your online rep

In the age of Yelp!, Angie’s List and other review sites, many companies are spending money to hire firms to manage their online reputations. The Frugal Entrepreneur takes a look at what you should think about before deciding to take the plunge.