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Recent Post in Small Biz News
While Feds Debate, Small-Biz Health Care Rates Skyrocket
The whole healthcare-reform debate hit home for me this week. I've been ignoring a large envelope that came from my health insurance agent about a month ago. They left me a sort of ominous-sounding phone message about it, too, but I hadn't had a chance to call back. You know how sometimes when you can smell something bad's up, you just want to avoid it? I was in that mode.
Then I started reading news stories about how small-business healthcare plans were all having their rates jacked up to the sky...and I finally got up the nerve to open the envelope. Then I about fell over. read more...
Run a Small Business and Win a Prize!
There isn't much glory to running a small business. Day after day, you market, sell, hire, fire, economize, mentor, purchase, envision, order, organize, plan, and pay the bills. And nobody notices. Or you win some totally jokey award that doesn't really mean anything, and nobody notices.
Occasionally, there's an exception to the grind -- a chance for a few outstanding small businesses to step into the spotlight and enjoy some national recognition for what they've built. One of those opportunities is coming up. read more...
Should Small Businesses Be Allowed to Be Bigger? For those who don't read the fine print on the Small Business Administration's website, the agency has proposed increasing the size definitions for small businesses in 71 business sectors, mostly within retail industries. It's the first proposed rule change on qualifying size since 1984.Why should you care? It means bigger businesses would still qualify for SBA loans and other federal assistance to small business. Now, is that a good thing or a bad thing? I'm of two minds. read more... CIT Bankruptcy: Tightening the Screws on Small Business? With the filing of a Chapter 11 bankruptcy reorganization petition late last week, the parent company of giant small-business lender CIT is hoping for a speedy trip through bankruptcy court. Small businesses that need loans, however, face a more uncertain future. read more...
Tomorrow's Living-Wage Jobs Last night I was watching the HBO documentary Schmatta: Rags to Riches to Rags, which chronicles how Jewish and Italian immigrants created the New York garment district soon after the turn of last century, and built it into the largest employer in the city. It goes on to show how, after more than 70 years of being a thriving source of good-paying union jobs, it all disappeared as trade protections ended and NAFTA ushered in a new era of global free trade.The film repeatedly asks the questions: How will we rebuild the American middle class? Where will tomorrow's living-wage jobs come from? read more... Twitter Contest Lets You Pitch VCs If you're hoping to connect with venture capital firms to pitch your company story, a new contest may help--but you'll need to be ready to catch a plane to Seattle.This year at Northwest Entrepreneur Network's signature networking event, Entrepreneur University, six lucky companies will get to make their pitch before a media panel and conference attendees. How do you qualify? A Twitter contest. Shelling Out To Keep Your Business Alive Entrepreneurs typically have a passion for the business they've created. With the economy down, many business owners are facing tough decisions about how to keep their business afloat until sales improve. What would you be willing to do? For instance, would you liquidate personal assets to keep your business alive?A recent study shows more small-business owners are contemplating doing just that -- dipping into their own funds to keep their business going. The Discover Small Business Watch survey of 750 small-business owners found nearly two-thirds--61 percent--of owners thought it likely they would tap into personal assets to stay afloat within the next year. read more... Will TARP Soon Cover Small Business? President Barack Obama's small business rescue plan, which has been around for more than a year, came back into the spotlight Wednesday, when Obama announced three specific proposals aimed at funneling more loan money to small businesses.The big questions: Can he get these initiatives passed anytime soon? And if so, would it help? read more... Can States Save Their Small Businesses? While federal legislators continue to muse about whether there should be focused recession relief aimed at small business such as the nationwide emergency lending facility proposed by President Barack Obama last year, some states are stepping into the breach, calling small businesses together and trying to figure out how to help them.For instance, Florida Gov. Charlie Crist is holding a small business summit next month, inviting more than 20 business owners from around the state to brainstorm on how the state can make it easier to do business in the state. Planned session topics included cutting red tape, working with the state's Small Business Regulatory Advisory Council, and better connecting small business owners with the state's workforce agencies. read more... Businesses Bought and Sold...for Less
It's been bargain week in the business-selling marketplace. The poster child: shrinking BusinessWeek's sale for less than $5 million to Bloomberg on Tuesday.
Also making news: California's largest and oldest independent bookstore, Vroman's, which purchased another indie, Book Soup. In both cases, the acquisition moves likely mean the difference between survival and death for the acquired.
Still, many commentators seem more sad than relieved as they contemplate how business values in so many sectors have declined. And it is sad to think of owners putting so much money, time and sweat into their businesses only to see them bring so little in the end.
read more...
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