Archive for July, 2010

Despite challenges, small business owners remain happy

Friday, July 30th, 2010

According to a new survey, the key to happiness may be filing an LLC. Sixty-nine percent of surveyed small business owners in the TD Small Business Happiness Index said that they felt "very happy." The biggest contributors to their happiness were the sense of accomplishment that comes with forming a company and a personal connection [...]

Community lenders getting $10M boost

Friday, July 30th, 2010

A new grant program from Bank of America will distribute $10 million in grants to nonprofit community lenders across the country, which could provide $100 million in microloans for entrepreneurs looking to start an LLC or expand their existing small businesses. The grants will be used as loan loss reserves, which nonprofit financial institutions need [...]

SBA prepares redesigned website

Friday, July 30th, 2010

The U.S. Small Business Administration is getting a virtual makeover. The agency says it will launch a completely redesigned website this fall, which will make it easier for entrepreneurs looking to start a small business or file an LLC, lenders, and small business counselors to locate information on the site. "Our goal as an agency [...]

Kauffman Foundation teams up with Kaplan University to teach entrepreneurs

Friday, July 30th, 2010

The Ewing Marion Kauffman Foundation has joined with Kaplan University to add new online certificate programs to the foundation’s FastTrac entrepreneurship training curriculum. The partnership has developed two new programs – one for new companies and one for existing businesses. The certificate for new companies includes lessons on business incorporation, business plans and financial operations, [...]

Customer loyalty programs help support small business growth

Friday, July 30th, 2010

Once an entrepreneur has taken the first step of starting an LLC for their small business, they must build a strong customer base. Creating a loyalty program is one way to make sure that customers keep coming back. "Each loyalty-leader treats their customers like they’re made of gold – meaning there is a deep level [...]

Hernando County budget cuts could bring relief to entrepreneurs

Thursday, July 29th, 2010

Most of the time when a state or local government is facing a budget shortfall, it ends up raising fees or taxes to make up for the difference. But cuts in Hernando County, Florida, may actually make it easier for entrepreneurs to do business, the St. Petersburg Times reports. Workers have recommended that the government [...]

Small business owners see promising future

Thursday, July 29th, 2010

While the economy slowly recovers, a new survey has found that small business owners feel better times are on the way. In U.S. Bank’s 2010 Small Business Annual Survey, most small business owners reported that their revenues were either up or had remained stable compared with last year. Looking ahead, 47 percent expected that their [...]

Legislators propose federal angel investment tax credit

Wednesday, July 28th, 2010

In an effort to help encourage the growth of entrepreneurs who form an LLC, several members of Congress are proposing a federal tax break for angel investors who give funding to eligible technology startups. Under the proposed bill, angel investors would get a credit of up to 25 percent of their equity investment in companies [...]

Bank of America increases small business lending by nearly $9B

Wednesday, July 28th, 2010

Bank of America says it has loaned $45.4 billion dollars to small businesses over the first six months of this year – an increase of nearly $9 billion compared with the first half of 2009. That puts the company ahead of its own pledge – made last December – to increase small business lending by [...]

San Diego program gives small businesses the inside track for contracts

Wednesday, July 28th, 2010

The City of San Diego has launched a new program that will give small and minority-owned businesses priority when awarding contracts, the San Diego Union-Tribune reports. The new Small Local Business Enterprise program will reserve all public works contracts under $500,000 for smaller companies, and also give them an advantage in applying for larger projects [...]

Modified loan program helps Salt Lake City small businesses

Tuesday, July 27th, 2010

A modified loan program in Salt Lake City is helping entrepreneurs get needed financing – regardless of whether the loan is big or small. Last month, city officials changed a small business loan program to allow for much smaller loan amounts and give assistance to more entrepreneurs looking to start an LLC. While the old [...]

Avoid setting off warning bells for investors

Tuesday, July 27th, 2010

Pitching a business idea to a venture capital group or angel investor is never a sure thing. Business Insider’s Martin Zwilling says there are several phrases that can make investors nervous and lead them to choose not to help an entrepreneur file an LLC to move forward with their business plan. Zwilling says that small [...]

North Texas boot camp helps entrepreneurs start a corporation

Monday, July 26th, 2010

The University of North Texas’ Murphy Center for Entrepreneurship is hosting its first entrepreneurial boot camp to help local residents take the first steps in forming an LLC. The month-long camp – which is currently underway, and will come to an end on August 18 – will help 10 students in its inaugural class. The [...]

Multiple business incubators springing up across Wyoming

Monday, July 26th, 2010

In an effort to give support to entrepreneurs looking to file an LLC in various parts of Wyoming, local business development groups have worked to try to form a number of new business incubators across the state, the Casper Star-Tribune reports. The newest incubation program, located in Lovell, will give assistance to local entrepreneurs and [...]

How entrepreneurs can improve their credit score to get financing

Monday, July 26th, 2010

For small business owners who are planning to file an LLC to start a business, personal credit scores plays a critical role in whether or not they get financing. For those with less-than-perfect credit, USA Today columnist Rhonda Abrams writes that while it’s important to check credit reports and pay bills on time, other things [...]

Starting an LLC gives entrepreneurs more flexibility for future plans

Monday, July 26th, 2010

When forming a company, one question an entrepreneur spends a lot of time thinking about it what legal entity they should choose. Smart Business Network contributor Mark Klimek says that filing an LLC will give the company the flexibility it may need further down the road. But even with careful planning, as a company expands, [...]

Grants available for Kansas small business owners

Friday, July 23rd, 2010

Many entrepreneurs in eastern Kansas looking for marketing help as they form an LLC will be able to take advantage of a government grant program that will cover much of the cost of workshops at the Miami County Economic Development Center, the Osawatomie Graphic reports. The scholarships – part of a grant to the county [...]

Putting up cash may help small business owners get a loan

Friday, July 23rd, 2010

For a small business owner looking to file an LLC or expand an existing company, sometimes a bank loan can provide the cash flow that the business needs. As the Wall Street Journal reports, banks will be more willing to lend if entrepreneurs put up cash as collateral. In years past, banks looking for collateral [...]

Nevada business incubator gives entrepreneurs more than facilities

Friday, July 23rd, 2010

Small business owners in Nevada have a new helpful resource as they work to start an LLC. The Laughlin Chamber of Commerce recently launched a new business incubator program to help entrepreneurs in the early stages of forming a company, according to the Mohave Daily News. "Instead of eggs, we hatch business," Janet Barela, executive [...]

Entrepreneurs need more than just industry experience when forming a company

Thursday, July 22nd, 2010

Most entrepreneurs already have a good idea of what it is they are hoping to sell when they file an LLC to start a small business. But having technical knowledge about the industry isn’t enough for the company to succeed, according to San Angelo Standard-Times contributor Pedro Ramirez. He says that in addition to knowledge [...]