If you’re seeking financing for your business, you may have noticed promising signals in small business lending. Banks overall are reporting the biggest increase in lending to small businesses in four years. Month over month, the numbers are improving. Reuters reports that in May 2012, small business lending reached its highest level this year, up 18 percent over the previous year. (For more data read: Business Lending Showing New Signs of Strength).
Guest post by Mark Doms, Chief EconomistEarlier today, the Bureau of Labor
Statistics (BLS) released a report showing that the private sector added
172,000 jobs last month, and overall employment rose by 163,000. While there’s
more work to be done, the economy is creating jobs on a consistent basis.
The economy has added private sector jobs for 29 straight months, for a total
of 4.5 million jobs. In fact, since the beginning of the year, the
economy has added over 1.1 million private sector jobs. Today’s employment
Acting Secretary Rebecca Blank joined business leaders from
across the country earlier this week at the White House Business Council American
Economic Competitiveness Forum on Travel and Tourism to discuss the administration’s actions to help grow travel and tourism and support the
millions of jobs associated with the industry. Travel and tourism is a bright spot for the American economy, leading
the recovery with growth that has outpaced the growth of the overall economy by
almost 800 percent and on pace for another year of record high international
One of the more perplexing questions small business owners ask is, “Why did I lose that deal?” or even more worrying, “Why do I keep losing deals?”
Whether you sell to other businesses or directly to consumers, you’re not going to win them all. But there are always going to be times when a sale that looks like a sure thing goes cold – for no apparent reason.
If these times worry you and you’re looking for a better win rate, here are five things you can do about it.
1. Be First and Be Prepared to Differentiate
Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic DevelopmentOver the last three and a half years, President Obama has been committed to investing in efforts that strengthen rural economies, create jobs, support business growth, and expand opportunity for rural Americans.Today, the administration announced the 13 winners of a key component of this goal, the Rural Jobs and Innovation Accelerator Challenge.Read More
Remember when Congress voted to reauthorize the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs and the President signed the bill into law back in December, 2011? Implementing laws however, and doing it right, often takes just a little more time.
Own a small business? Perhaps you’ve heard about small business certification, but do you actually need to certify your business as small?
For most small businesses, the answer is no.
In my role as a franchise advisor, I’ve been able to work with a lot of really smart people over the years. I’m talking MBA’s, PhD’s-even a rocket scientist from NASA. I would guess that some of them were qualified to be members of MENSA.*
But, even smart people make mistakes, and I’ve seen some real whoppers take place at various stages of the franchise buying cycle. Some of them include:
· Not calling 10-15 current and former franchisees to ask about their experiences as owners
Mission to update measurements dating to the 18th centuryNOAA Ship Fairweather
begins a 30-day survey mission in the Arctic this week, scheduled to
check a sparsely measured 1,500-nautical mile coastal corridor from
Dutch Harbor, Alaska, north through the Bering Strait and east to the
Cash flow is king for small businesses and the self-employed. But planning cash flow is easier said than done, especially if you’re not a numbers person.
However, if you’re going to succeed in business, mastering basic cash flow projections is a must. After all, you can be a profitable business yet still have poor cash flow, simply because the cycle of cash in and out of your business isn’t synchronized.