News (2425)
Federal Government Meets Small Business Contract Goal
For the first time in nearly ten years, the federal government has met its small business contractor goal, reports the Washington Post. Recently released data shows that the federal government awarded $83.1 billion worth of contracts to small businesses.
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Demand Drives Hiring Surge
According to USA Today, rising product demand has small businesses hiring. In the aftermath of the recession small businesses held off hiring. Now, demand is increasing so small businesses feel comfortable hiring staff to meet the demand.
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Social Media is Top Advertising Spot
A report from research firm BIA/Kelsey shows small businesses spend the most money on social media advertising, reports AdAge. The survey shows 74.5 percent of small businesses use social media to advertise or promote their businesses. In addition, the businesses spend 21.4 percent of their total media budgets on social media advertising.
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UPS Expands 3-D Printing
United Parcel Service (UPS) will expand its small business 3-D printing services, reports Fortune. Currently, only six UPS stores offer 3-D printing services, but due to overwhelming demand the company will now offer it in 100 stores nationwide.
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Some Small Businessess Offering Healthcare Subsidies
Many small businesses are no longer able to afford to provide health insurance to their employees, reports ABC News. Some of those business find it more affordable to give their employees subsidies insteads. A survey by the Society for Human Resource Management shows that of the 1,600 businesses surveyed, 3 percent plan to give employees subsidies so they can buy their own coverage on private insurance exchanges.
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New Platform to Simplify How Businesses Find Loans and Raise Capital
LoanSage has announced the launch of its new online platform to help business owners access up to $2 million in capital and loans in as little as 24 hours. The platform educates businesses on the various types of term loans, working capital loans and alternative funding options that are available to small and medium businesses.
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Florida Gets Small Business Loan Funding
Florida’s State Small Business Credit Initiative received a grant for the U.S. Department of the Treasury, reports South Florida Business Journal. The $33 million will be available as loans to area small businesses.
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Lending Continues to Grow
After a decline in June, small business lending increased in July, reports INC. In July, the Small Business Lending Index rose 7 percent. Overall lending has increased 10 percent since 2013.
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Small Business Owners Lose Against Yelp
The 9th U.S. Circuit Court of Appeals in San Francisco dismissed a lawsuit brought by two local business against Yelp, the online review site. The lawsuit alleged that Yelp extorted money from the businesses by offering to manipulate reviews for the business in exchange for them purchasing online ads. The ruling stated that Yelp’s engineering of the reviews didn’t fit the strict definition of extortion.
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Senator Introduces Legislation to Close Lending Gap
According to the Post and Courier, Senator Maria Cantwell wants to close the lending gender gap for women small business owners. As chairwoman of the Senate Committee on Small Business & Entrepreneurship, she introduced the Women's Small Business Ownership Act. If passed, the Act would make it easier for women-owned companies to get loans and government contracts.
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