Archive for May, 2010

White House attempts to free up small business loans

Monday, May 10th, 2010

Lawmakers in congress are now reviewing a $30 billion program proposed by President Barack Obama aimed at increasing access to loans for small businesses. The program, which was outlined by the President during his State of the Union speech earlier this year, would create a $30 billion dollar fund to help support small- and medium-sized [...]

Entrepreneurs need to be careful with corporate investment

Monday, May 10th, 2010

As some entrepreneurs may have noticed, it has become increasingly difficult for startup owners to get venture capital investment for their business. PeHub author and Allegis Capital founder Bob Ackerman says entrepreneurs who look to corporate angel investors should be cautious when applying for funds. Ackerman says there is a major difference between venture capitalists [...]

Best and worst states for business taxes

Friday, May 7th, 2010

The Small Business & Entrepreneurship Council’s latest Business Tax Index says South Dakota and Texas have the best tax systems for entrepreneurs and small businesses. The council’s annual index ranks the tax systems of all 50 states and the District of Columbia on 16 different factors to see how those systems affect affect entrepreneurs and [...]

Best qualities to exhibit when looking for venture capital

Thursday, May 6th, 2010

For some people trying to get their startups off the ground, it takes a venture capitalist to really get the financial ball rolling. New York entrepreneur and IfWeRanTheWorld founder Cindy Gallop told The Faster Times that there are a number of qualities that entrepreneurs can show to help get venture capital investment. She said she [...]

Big banks offered loans to small businesses at the start of 2010

Thursday, May 6th, 2010

At the height of the recession, a number of banks said they would increase small business lending in 2010, and BusinessWeek reports that many financial institutions are making good on their promise. The source says many banks – including Wells Fargo, Bank of America and others, said they would expand small business lending in 2010 [...]

Business owners may benefit from understanding the advantages of incorporation

Thursday, May 6th, 2010

Some entrepreneurs think coming up with a killer business idea is all that is necessary to propel them into fame and fortune. But after establishing a business plan, entrepreneurs need to do their homework about how to incorporate to make an idea a reality. Entrepreneur magazine says there are some real benefits to incorporating a [...]

Important healthcare considerations for company owners

Wednesday, May 5th, 2010

For entrepreneurs considering forming a company, the newly passed healthcare reform could affect small businesses – or it may not. ZaneBenefits.com offers some insight on which SMBs will be impacted by the new legislation. To start, the source says that companies with fewer than 25 employees and average salaries less than $50,000 are eligible for [...]

Structure startup funds from family without alienating future investors

Wednesday, May 5th, 2010

Many entrepreneurs considering forming a company are wary of taking funds from friends and family because it can seem unprofessional. But in trying times, it’s hard to secure bank loans. Lack of outside investor dollars doesn’t mean entrepreneurs should put business plans away. Choosing friends and family as investors won’t necessarily prohibit funding down the [...]

Study reveals Minnesota offers business-friendly climate

Tuesday, May 4th, 2010

The Council of State Taxation recently released the findings of its state-by-state estimates of total state and local business taxes for 2010. The survey found that state and local taxes paid by businesses in the U.S. totaled $590 billion in 2009 – a decrease of 3.5 percent since 2008. This may mean the time is [...]

Students may consider incorporating their startups

Monday, May 3rd, 2010

A report from the Kauffman Foundation shows many schools are increasing their entrepreneurial training programs to meet increased student interest in business endeavors. This indicates many young entrepreneurs unable to fund summer jobs in the trying climate may feel ready to take the plunge into the startup world when school is not in session. While [...]

Alabama officials offer ‘entrepreneurial roadmap’ for forming a company

Sunday, May 2nd, 2010

The national unemployment rate lingers at 9.7 percent, and many experts say small businesses will be the leaders in driving job generation. The Small Business Administration reports that SMBs have created 64 percent of net new jobs over the past 15 years. With this in mind, some states are giving their small business communities ample [...]