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While the U.S. economy continues to see positive signs of growth, consumer spending in one sector is booming – tourism.
Consider the facts – spending by international travelers to and within the U.S. increased 10.5 percent in 2012 (source: U.S Travel Association). Travel also continues to lead export growth, accounting for a 23 percent rise in U.S. exports. Home grown tourism is also experiencing a surge, with more and more Americans opting to take “staycations” – enjoying recreational and entertainment options closer to home – as opposed to hitting the roads and skies.
Are you thinking of purchasing a franchise someday?
If so, you’re going to be focusing on things such as finding a franchise that’s a good fit for you, doing research, scouting out potential business locations and getting a small business loan.*
Do you target children or a youth demographic online? Perhaps you’ve developed or are marketing a mobile app that appeals to a youth market? If so, you should be aware of the Children’s Online Privacy Protection Act (COPPA) – a federal ruling enforced by the Federal Trade Commission (FTC) that gives parents control over what personal information websites can collect from children under the age of 13.
President Barack Obama recently proclaimed April National Financial Capability Month. Recognizing the importance of smart financial planning in achieving the American Dream, this month calls on individuals to empower themselves by seeking knowledge and tools for strong financial capability.
Nowhere is financial literacy more important than in the small business community. Small businesses are the embodiment of the American dream and the backbone of the American economy, creating 64 percent of the net new jobs created between 1993 and 2011.
Export, trade and finance related agencies across the federal government are teaming up during World Trade Month - May 2013 - to host a series of Twitter Q&A’s for U.S. companies. Businesses can participate by tweeting their questions using the hashtag #TradeChat during the scheduled times.
What does your online storefront look like? How are you attracting customers to purchase a product they can’t touch, feel or try until it arrives on their doorstep?
This is a common, yet often overlooked, problem for small business owners who sell exclusively online through their own site or a third party site like Etsy or eBay. You might sell the most exquisite artisan product, but if you don’t present it effectively, shifting inventory might be harder than you think.
It’s been six months since Hurricane Sandy struck the East Coast and signs of recovery are emerging. Businesses are reopening, homeowners are rebuilding and communities are rebounding. I’m proud to say that the SBA, together with our federal partners, stepped-up to provide assistance to those affected by Sandy. SBA has approved more than 34,000 disaster loan applications for a dollar total of $2.2 billion – making Hurricane Sandy the third largest natural disaster in terms of SBA disaster lending in U.S. history.
In business, it’s inevitable that sooner or later you won’t get paid for the goods you shipped or services you performed. Or you may have lent money to an employee or your business, but won’t be repaid. Being passive about the whole thing doesn’t help. Learn what you can do to get your money!
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