small businesses
To boost growing small businesses, start mentoring
Small businesses will play a pivotal role in creating jobs and helping our economy recover, and nothing can give mid-to-late-stage entrepreneurs a better leg up than connecting them to business leaders and all the resources they command. Launching startups requires folks with ideas, passion, and energy, but scaling them takes management expertise. Full article.
Set policy to avoid HR disaster
Human resource planning is often overlooked by small businesses until they face a problem. As your business grows, you will need to add resources to manage employees and contractors. Laying ground rules for employees from the start can eliminate many common issues before they become problems-i.e. documented HR policies, allow you to act swiftly, rather than make up policies to solve issues on the fly. Full article.
Get more women to lead businesses
Small businesses that make diversity part of their hiring practices are the most likely to succeed and grow. In the technology industry, in particular, success depends on hiring the best talent. Simply making sure recruiting efforts include a diverse slate of candidates can substantially impact team composition, and including qualified female candidates in the talent pool will make a difference. Full article.
5 Social Media marketing tips for small businesses
Some of the common concerns small businesses have about using social media for marketing include budget and time constraints. Social media marketing isn’t all that expensive and time-consuming, and there are some tips to make it easier for small businesses. Full article.
Senate votes to consider Small-Business Measure
The Senate agreed to consider legislation that would cut taxes and ease credit for small businesses, ending months of delay for a measure proposed last year. The Senate will discuss amendments and a final vote on the measure may be taken later this week. The measure is aimed at easing terms for loans guaranteed by the Small Business Administration, providing $12 billion in tax breaks and issuing grants to states that lend to businesses. Full Article.
U.S. economy: Recession concerns ease
Companies in the U.S. added more jobs than forecast in August, easing concern the world’s largest economy is sliding back into a recession. President Obama said there is “no quick fix” for the economy and urged Congress to pass a package of measures to help small businesses, including tax breaks and aid to ease credit. Full Article.
Telecommuting keeps costs low
Small businesses may want to consider telecommuting as one way to reduce operating costs. When business owners compare overhead expenditures and potential cost savings against having employees in the office, they might find it economical to have employees telecommute. Full Article.
Chase Offers Small Business Borrowers Incentives to Hire
This is new: A bank offering companies incentives to hire. JP Morgan Chase recently announced that small businesses that open new business lines of credit could reduce their interest rates by .5 percent for each new hire by the end of the year, up to a 1.5 percent discount on credit lines of up to $250,000. Customers with existing credit lines can get the discounted rates for hiring if they increase their lines by $10,000. Behind the move is competition to grab the best business customers from a diminished pool of creditworthy borrowers. Full Article.
Wal-Mart’s Sam’s Club to test online loans to members
Wal-Mart Stores Inc.’s Sam’s Club unit will test an online loan program with Superior Financial Group LLC that aims to help small businesses access capital. A statement released by the Bentonville, Arkansas- based company indicated that Sam’s Club members who qualify for loans could borrow $5,000 to $25,000 from Superior Financial. The program is aimed at entrepreneurs and businesses owned by minorities, women and military veterans. Full Article.
Microfinance Goes Where Banks Fear to Tread
Microfinance lenders, originally geared to helping the disenfranchised, are providing more financing to small businesses that can't get bank loans. While microfinance represents a tiny fraction of the U.S. credit market, it's growing fast. Most likely to get funding were very strong small business owners who in the past would have received financing from banks. Full Article.
