Category Archives: Small Business

Super Committee failure a disaster for small biz

There are a lot of reasons to be disappointed with the Super Committee’s lack of common sense. But small businesses should be especially angry, says small business advocate Lloyd Chapman.

Fall out from the Super Committee’s lack of political courage “means that competition for federal contracts will heat up. And with less federal money to be had, Fortune 500 corporations are going to stake claim over all federal contracts, which represent hundreds of billions in purchases a year. This is a disaster for America’s 28 million small businesses, which employ more than half the private sector workforce,” Chapman wrote in a piece for the Huffington Post.

Read the full story here: The Super Committee punts, and the Odds Are Stacked Against Small Business

FedEx hosts small biz Tweet Chat series

Shipping giant FedEx Corp. is going small. Starting next week the Memphis-based company will
social04_SY_13488.JPGhold a series of Tweet Chats on small business issues.

On three consecutive Thursdays, the Boost Your Small Business Tweet Chat series will feature small business experts discussing topics such as: how to recession proof your business, making advertising pay off and branding on a shoestring budget.

The first Tweet Chat is Thursday, Oct. 6 at 8 p.m. (Eastern time). Melinda Emerson, author of “Become Your Own Boss in 12 Months; A Month-by-Month Guide to a Business that Works., will provide advice on how to recession proof your small business.

To attend the chat on Twitter follow the #fedexsmallbiz hastag.

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Small business gets larger share of federal pie

Small business won a larger share of federal contracting in 2010, the second straight annual increase, the U.S. Small Business Administration reported recently.

In 2010, small businesses received $97.95 billion in federal contracts, 22.7 percent of the available total, according to the SBA. In 2009, small businesses received 21.9 percent of the federal total.

In the previous four years small business’ share of federal contracts dropped.

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Small biz confidence in economy rising — a little

Small businesses are feeling better about the economy as sales and earnings trends improve, but they remain reluctant to hire, according to the monthly survey of small businesses by the National Federation of Independent Business.

NFIB’s Small Business Optimism Index rose 1.5 points in January to 94.1. The gain was modest, but the index has been slowly climbing in recent months and January’s number is the highest in more than three years.

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NFIB offers free webinars for small biz

Small businesses needing help to cope with an economy struggling to recover, can tune in to a series of free webinars offered this month by the Tennessee office of the National Federation of Independent Business.

Webinars are scheduled on Wednesday through the end of January and are free to both NFIB members and nonmembers.

Topics include generating sales, printing and shipping for small business and alternative funding sources.


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SBA extends veterans Patriot Express loan program

Banks continue to make it hard for entrepreneurs to borrow money, but here’s some good news — the U.S. Small Business Administration today announced the extension of a loan program created to help veterans start new businesses.

Patriot Express, a piliot program that has provided more than $560 million in loan guarantees to thousands of veterans, has been extended for three more years, SBA said.

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Small business gets $970M from SBA

It’s been a good week for small businesses. A backlog of Small Business Administration loans received final approval on Monday, clearing the way for nearly $970 million to flow where it’s needed.

Approvals were completed for 1,939 loans, SBA Administrator Karen Mills said in a press release. Some businesses had been waiting on the money for months while Congress dithered over the Small Business Jobs Act of 2010.

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Pathway Lending, small biz loan fund honored

Pathway Lending’s work to get capital in the hands of Tennessee’s small business has won international recognition.

Culture_Currency(2).JPGThe Tennessee Rural Opportunity Fund managed by Pathway earlier this week received an Excellence in Economic Development Award from the International Economic Development Council.

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Thanks to Voinovich, lumps of coal for rest of GOP

Struggling East Tennessee businesses should send Ohio Republican Sen. George Voinovich a thank-you note for providing the crucial 60th vote for a bill that will deliver $30 billion in credit and $12 billion in tax breaks to small businesses.

And while they’re at it, business owners should send lumps of coal to Tennessee senators Lamar Alexander and Bob Corker. The Tennessee Republicans have toed the party line and helped hold the much-need bill hostage to filibuster.

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Will the GOP help small business?

President Obama on Monday urged the Republicans to support passage of a small business aid package ASAP when they get back to Washington after Labor Day.

So far, Republicans have threatened a filibuster and otherwise kept the package of small biz tax cuts and financial aid from being considered. Kind of bizarre when you consider small business is generally considered a loyal supporter of the Republican Party.

Here’s hoping Tennessee Republicans Sens. Bob Corker and Lamar Alexander will break with the party and help small business.