Guest blog post by Acting Commerce Secretary Rebecca
BlankTomorrow is Small Business Saturday, a day to celebrate and
support small businesses across the country.
In the fall of 1621, the Pilgrims, early settlers of Plymouth
Colony, held a three-day feast to celebrate a bountiful harvest, an event many
regard as the nation's first Thanksgiving. Historians have also
recorded ceremonies of thanks among other groups of European settlers in North
America, including British colonists in Virginia in 1619. The legacy of thanks
and the feast have survived the centuries, as the event became a national
holiday in 1863 when President Abraham Lincoln proclaimed the last Thursday of
The holiday shopping season is here, and customers are poised to spend more than $586 billion on gifts this year—a 4.1 percent increase over last year. But not all of that action is taking place on Black Friday or Cyber Monday, or at the local mall. For smart small businesses whose products have wide appeal, holiday arts and crafts fairs and local flea markets or other outdoor shopping events are great ways to garner additional sales this time of year. To get started, follow these steps.
Do you know an outstanding small business deserving of recognition? We are now accepting nominations for the 2013 National Small Business Week Awards, including the prestigious Small Business Person of the Year award.
Visit NationalSmallBusinessWeek.SBA.gov to submit your nomination now through January 3, 2013.
The SBA awards to be given in celebration of National Small Business Week will include:
The goal of business is to make a profit. Many small businesses fail at this because they don’t know how to price their products or services, but pricing is the critical element to achieving a profit, a factor that all firms can control.
If you’re a startup or are revisiting your pricing strategy, here are some suggestions from industry experts and small business owners to help you get the price right.
1) Understand service costs and their impact on pricing
In between the Black Friday sales and the Cyber Monday deals is Small Business Saturday (November 24th) – a day set aside to support the small businesses that play a vital role in creating jobs and economic opportunities all across the country.
Small businesses are the back bone of our communities. And when we shop small, we not only get great products and services, but we support our neighbors and strengthen our local economies.
This week marks the 5th Annual Global Entrepreneurship Week. In our increasingly interconnected global economy, it’s important for American small businesses to have the tools to compete on the world stage. Ninety six percent of the world’s population lives outside of the United States, which represents a huge portion of the world’s buying power. That’s why President Obama set a goal to double exports by 2015. Here at the SBA, and across the Administration, we’ve made it a top priority to achieve this goal.
One of the benefits to building a creditworthy company is that lenders, creditors and suppliers will determine the level of credit risk based on the company’s creditworthiness rather than that of the owners.
However, there are instances where a lender will require a personal credit check as part of the overall risk assessment. In these cases, it is in the best interest of you, the business owner, to have a positive credit rating with the consumer credit agencies.
If credit scores currently fall below 680, then focus on taking positive steps to improving those numbers.
This week marks the celebration of Global Entrepreneurship Week (GEW), an annual initiative taking place around the world with more than 35,000 events in 135 countries. The events recognize the economic and social contributions of innovative entrepreneurs and bring an unparalleled level of inspiration to those considering a path of entrepreneurship.
On Wednesday, Acting Secretary of Commerce Rebecca Blank traveled to New Jersey where she met with local business leaders for discussions about ongoing efforts to rebuild the region in the aftermath of Hurricane Sandy. During these conversations, she conveyed that the Commerce Department, the Federal Emergency Management Agency, and the administration are focused on providing businesses and communities affected by Hurricane Sandy with all available federal support. In Elizabeth, New Jersey, Acting Secretary Blank met with a group of businesses that were impacted by the storm. Dr.Read More