​The Indiana University East Business and Economics Research Center

​Generates comprehensive economic data to support the vitality of the Eastern Indiana and Western Ohio regions.
Goal 1.1: Establish a centralized digital dashboard to house regional economic indicators, ensuring that 100% of data sets for the majority of IU East service counties in Eastern Indiana by mid-2031 and, phased in thereafter, those remaining counties in Eastern Indiana and Western Ohio, are updated on a rolling basis as new federal and state data becomes available. [Vision]
Goal 1.2: Disseminate the collected economic data and business survey findings through the annual “Futurecast” event, local talks, and/or contributions to newspaper articles. [Impact]

Conducts targeted research and studies to capture the "pulse" of the local and regional economies.
Goal: Publish the annual Richmond Forecast and Business Survey Report by mid-December of the year and mid-May of the following year, respectively, maintaining a high standard of internal and external peer review. [Discipline]

Collaborates with community organizations to enhance public understanding of the local business environment.
Goal: Partner with local economic development organizations in at least three new counties in the IU East service region in Indiana to expand the geographic impact of BERC’s research. [Growth]

Engages alumni networks to bridge the gap between academic research and real-world regional business applications.
Goal: Develop an "Alumni Research Liaison" program to integrate at least two distinguished alumni into the external review process for major economic reports. [Legacy]

Leverages student effort in promoting economic development in the community.
Goal: Organize activities/events in which students can contribute meaningfully to the economic development of the region and their residing counties. [Contribution]

The BERC delivers on its mission through six strategic pillars: Vision through our new digital dashboard; Impact by disseminating research through community engagement and media; Discipline in our peer-reviewed reporting; Growth through expanded regional partnerships; Legacy by integrating our alumni back into the research process; Contribution by promoting regional economic development.

Summer is a great time to consider the advantage of temporary labor. You know that project you’ve been putting off? How about the organization structure you wanted to build? What about that technology trial? Or maybe there's something you’ve been doing that could easily be managed by someone else so you can free up your time for things that require your attention?

As vacations loom and customer buying patterns shift, it’s an ideal time to explore temporary hires or interns. According to the National Association of Colleges and Employers, businesses expect to hire 3.9% more interns than in the previous year, and 81% say they plan to increase or maintain intern hiring.

But if you think you can just bring in an intern, hand over a pile of small tasks, and call it a program, you’re missing a bigger strategic opportunity.

The smartest businesses do something different. They don’t use interns just to fill a chair or display them to the community to look like a business that’s worried about the future workforce.

They use them to tackle work that matters.

Don’t think your business could use an intern? Think again. Here are a few ingenious ways to get things done with the “summer help”:

Process Detective
One of the best ways to use an intern is as a process detective. Every business has systems that have grown messy over time. Maybe your onboarding is inconsistent. Maybe client files are stored in three places, and no one knows which version is right. Maybe your front desk, inbox, or quoting process depends too much on tribal knowledge. An intern can document workflows, identify bottlenecks(they provide fresh ideas because they don’t know the history), and help organize procedures in a way that saves your team time long after summer ends. It’s not glamorous work, but it’s high-value work and the intern can learn a lot about process, efficiencies, and operations.

Customer Experience Reviewer
Interns can also be incredibly helpful as customer-experience reviewers. When you’re inside your own business every day, it becomes hard to see friction points. An intern has fresh eyes.

​Ask them to walk through the experience as if they were a customer. Could they find the right information on your website? Was the contact process clear? Did your social media tell them what you do? Was your location easy to navigate? In almost every industry, there are blind spots the employees stopped noticing years ago.

Content Miner
Another strong use for interns is content mining. This is especially useful for businesses that know they should be marketing more consistently but never seem to have the time.

An intern can help turn existing knowledge into usable content. They can gather frequently asked questions, interview staff, organize customer success stories, pull together blog topic ideas, or help sort photos and video clips you already have. They may not be your final decision-maker, but they can absolutely help uncover the raw material your business has been sitting on. Put them to this task and you may uncover six months’ worth of content that no one can produce but you—an excellent way to standout on social media.

Researcher
Summer interns are also well suited for research projects that tend to get pushed aside. Maybe you want to understand what competitors are doing, what events are worth attending, what partnerships might make sense, or what new audience segments you should be reaching. Maybe you want a clearer picture of local market trends or customer reviews. Interns can gather and organize that information(or use AI to do it)so leadership can make smarter decisions without spending hours chasing data.

Internal Knowledge Organizer
Another overlooked role is internal knowledge organizer. In many small and midsize businesses, important information lives in emails, sticky notes, shared drives, and one very loyal employee’s head. That isn’t a system. It’s a problem waiting to happen. What becomes of your operations if something happens to that employee? At some point every employee leaves. What information would walk with them?

An intern can help create shared resources, update templates, build simple reference guides, and make day-to-day information easier for everyone to find. That kind of clean up can be the difference between having information at your fingertips or having to leave countless messages for past employees.

Event Planner or Worker
If your business hosts events, supports the community, or depends on local visibility, interns can help there too. They can assist with planning checklists, event follow-up, sponsorship tracking, guest communication, and post-event recaps.

They can help your business show up more professionally and more consistently. As we head into a season when networking, festivals, community programs, and business events often increase, that kind of support can make a noticeable difference.

But none of this works if the internship is built around filler. Interns don’t need to run your business, but they do need real assignments, some context, and a sense that their work matters. It’s good for them and for you. NACE notes that organized internship programs are linked to better conversion outcomes, and interns who are satisfied with their experience are far more willing to accept an offer from that employer later on.

​If you’re bringing in summer help, think beyond the 2026 version of coffee runner. Think about what your business needs that your team never has time to tackle. Consider the projects that improve efficiency, strengthen visibility, and make future growth easier. That’s where interns can shine and that’s a much better use of a summer and a desk.

​The Supreme Court nullified tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Other authorities (e.g., Section 301 and Section 232) remain in force.
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What’s changed:

• The IEEPA‑based global tariffs (10–50%) are no longer valid.
• The administration quickly moved to re‑impose some tariffs under other statutes and is using the next 150 days to investigate future actions.

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The $130 billion question:

• About $130 billion was collected under now‑invalid tariffs. The U.S. Chamber has made clear these funds should be refunded, especially to small businesses, but no formal refund mechanism exists yet.

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Resource for your members:

• The Chamber’s “Tariff Refunds FAQ: What Small Businesses Need to Know After the Supreme Court’s Ruling” helps companies:
  • Determine if they paid IEEPA‑based tariffs
  • Identify potentially refundable duties
  • Prepare documentation for a future refund process

The MetLife & U.S. Chamber of Commerce Small Business Index is 68.4 this quarter, down from last quarter (72.0) and similar to Q4 2024 (69.1).Most measures this quarter do not show a significant decline, however, there is a slight softening across some key measures, including comfort with cash flow and future hiring/investment expectations.

Notably, fewer small businesses report being very comfortable with their current cash flow this quarter. Additionally, views of their local economy have declined slightly, with two in five (43%) small businesses saying that their local economy is in good health. At the same time, views of the national economy are stable: 38% say the same of the U.S. economy, similar to last quarter. Longer term, outlooks for both the national and local economies are more optimistic compared to this time last year.
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This quarter, inflation continues to be the biggest challenge facing small business owners, but these inflation concerns have remained stable for the past two quarters. However, more small businesses are reporting increased challenges for both revenue and employee retention. Slightly more small businesses cite employee retention (17%) as a challenge this quarter (was 12% in Q4 2024). In the same vein, compared to this time last year, concerns about attracting talent have more than doubled. This quarter, 14% said attracting talent was a top challenge (up from 6% in Q4 2024).

Read More on the US Chamber Website

By: US Chamber of Commerce, April 18, 2025

They face higher costs and lost customers.
Small businesses are struggling from higher tariffs—the biggest tax increase in America in 50 years. They tell the U.S. Chamber about rising costs, while inflation remains a top worry , losing customers, and struggling to stay competitive and expand. 

Why it matters: We all want a strong economy to improve the lives of Americans and their communities. A pro-growth agenda, instead of imposing tariffs, can raise workers' wages and support families. 

What they’re saying: 

• "Due to the tariffs and hostile attitude towards Canada, our Canadian customers are no longer interested in working with us,” said Chris Pence, president of porcelainware maker Haand in Burlington, North Carolina. “We have lost all of our market share in Canada and had to downsize our business as a result." 
   

• “We have put a halt on our facility upgrade plans and have also stopped the imports. We will not be able to meet our customer demand without an outside supply source, but we had to put a stop to our normal business plan due to the trade war,” said Michele Derrigo-Barnes, president and CEO of Plattco Corporation in Plattsburgh, New York. 
   

• “We have just shipped a container of Sonic Alert products that we paid around $250,000 that will arrive in the U.S. in the next week or so. We have no idea how much tariffs we will have to pay. The current rate of 100% is more than the profit we will make from selling the product,” Adam Kollin, owner of Sonic Alert in Troy, Michigan, told the U.S. Chamber. 

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Bottom line: Rather than imposing tariffs, Washington policymakers should focus on economic growth, including:  

• Making the 2017 tax reforms permanent 

• Rebalancing regulations 

• Harnessing American energy 

• Expanding markets for U.S. businesses and workers 

Dig deeper: 

• What Small Businesses Need to Know About Tariffs 

Tell us how tariffs are impacting your business, your workers, and your community. 
Learn More

 

​By: Emily Heaslip, Contributor

When you first start as a business owner, you will have to wear many hats. You may find yourself launching a marketing campaign, ringing up purchases, designing your online store, and managing accounting all in the same day.
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However, the learning curve can be steep if you’ve never done business accounting before. You may not even know what you don’t know.

Everyone starts somewhere, and while you may eventually hire an accountant, it can be helpful to know the basics so you can build a good partnership. Here are some accounting basics to help you familiarize yourself with this important business function.

Master the key documents
Five documents show you how your business is performing financially. When you can read and prepare these documents, you’ll be able to make better decisions and improve your business’s financial health. The documents you should know include:

• Income statement: This shows your company’s profitability — how much money your business has earned or lost.
• Balance sheet: This is a high-level view of your business's financial health at a single point in time.
• Profit and loss (P&L) statement: This provides a snapshot of your business’s income and expenses quarterly, monthly, or yearly.
• Cash flow statement: This shows how and where you receive and spend money through your business operations, investing, or financing.
• Bank reconciliation: This reconciles your bookkeeping with your bank balance, helping you keep consistent records for tax purposes.

By understanding these documents, you can begin to see how your company is growing sustainably.