The shifting nexus of retail banking

The origins of our modern banking system can be traced back almost 800 years to the Italian city-states of the medieval period, when moneylenders would negotiate with merchants or farmers and record their transactions while sitting at benches, or bancas, from which the modern word bank is derived. At the time, each transaction — usually the extension of a credit line — was negotiated between a creditor and a client and tailored to the specific needs of that individual in that moment. The transaction was the heart of the banking relationship.

Over time, however, as the scale of banking operations increased, it became necessary to create a more efficient way of managing multiple transactions, and so the bank account emerged. As banks shifted their attention from the transaction to the account, in the interest of scaling efficiently, they also increased the level of standardization in individual transactions to minimize

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The 6 Top Automotive Franchises From the Entrepreneur Franchise 500

Here are the top six car-maintenance franchises of 2020.

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Entrepreneur’s Franchise 500 rankings feature businesses of all shapes, sizes and industries. If you’re looking for a franchise you can invest in for less than $5,000 or more than $5 million, well, there’s probably a business venture that will work for you. Whether you want to work in tech, or you had something a little livelier in mind — it’s all there.

One of the strongest industries on the 2020 iteration of our 41-year-old list are automotive franchises, consisting of 31 out of our top 500. Six even made the top 100, and we’ve detailed them below.

Related: 5 Affordable Franchises You Can Start for Less Than $10,000

Snap-on Tools

  • Entrepreneur Franchise 500 list rank: 31
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The sinking fortunes of the shipping box

Outside the Box: How Globalization Changed from Moving Stuff to Spreading Ideas

by Marc Levinson, Princeton University Press, 2020

In 2006, Marc Levinson, a former Economist journalist, scored a surprise hit with The Box, a history of the shipping container. He wrote the book in secret, because his early confidants couldn’t understand why he was writing about something as dull as a metal container. Yet Levinson knew that the subject of The Box was actually a launch point for a larger story: how containers standardized shipping, drove companies to change how and where they manufactured their goods, and, ultimately, accelerated globalization. When it was published, the craze for bigger ships and deeper ports was at its zenith; there seemed to be no limit to consumer demand for stuff. But in 2009, in the wake of the financial crisis, the world economy shrank for the first time since 1944, and

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Cybersecurity Practices That Protect Your Small Business

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Opinions expressed by Entrepreneur contributors are their own.

Success instills pride. Unfortunately, valuable possessions also attract thieves. Entrepreneurs think lack of customers, bad service and limited capital are what causes bankruptcy. Try being a victim of cybercrime.

A 2019 report by insurance carrier Hiscox found that 60 percent of companies that are victims of a cyberattack go out of within six months. The average loss is $200,000. That’s a hefty sum for startups, most of which are already reeling from the virus outbreak. Currently, 15 percent of small businesses do not expect to survive the recession, which means a cyberattack would have devastating consequences.

Here are cybersecurity practices that protect your business.

Train staff on security protocols

While big companies get all the media attention, hackers also exploit smaller organizations. It’s partly because criminals know that small firms have less resources

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Seven myths of business experimentation

When Isaac Newton published his third law of motion in 1687 — that for every action, there is an equal and opposite reaction — he unintentionally gave us a conceptual model that extended beyond the motion of physical objects. About 300 years later, the economist Albert Hirschman applied this action–reaction lens to the study of political, social, and economic progress and arrived at a provocative conclusion. He proposed in his book The Rhetoric of Reaction that opposition to progress is often “shaped, not so much by fundamental personality traits, but simply by the imperatives of argument, almost regardless of the desires, character, or conviction of the participants.” Hirschman’s theses can help us understand why some executives aren’t going full throttle with business experimentation, a practice that is key to innovation, that drives profitable growth and creates shareholder value.

I’ve found that there are commonly held misconceptions — deployed as rhetorical

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Cancel Your iCloud Subscription and Save Almost 70 Percent Off This Top Cloud Storage Service

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Every entrepreneur knows the frustration of simply having way too many files. Unless you’re an organizational wizard, your computer is very likely slowing to a crawl with files that you still have extreme trouble finding when you need them. Sometimes, the easiest solution is to just get them off of your computer, which is why the cloud exists.

But cloud solutions can be extremely expensive, especially for enterprise solutions, which is what many entrepreneurs need given how much they have to keep track of. Fortunately, pCloud offers a Premium Plus Cloud Storage plan

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