Archive for December, 2010

Employee behaviors to watch for during holiday season

Wednesday, December 22nd, 2010

The end of the year is a pivotal time for small business owners to maximize their revenue. Pressure can run high, but the minds of employees may wander. Therefore, entrepreneurs should be wary of signs that their employees may not be pulling their weight. Notably, employees attention may drift to online shopping. Gift purchasing during [...]

Entrepreneurial online advertising trends in 2011

Tuesday, December 21st, 2010

The battle for new and repeat business is becoming more and more competitive, and with the rise in online advertising, small businesses must be up to speed on applicable online trends. Next year, handling the transition from online searches to in-store purchasing will be a pivotal piece to advertising, writes Lee Odden for TopRankBlog.com – [...]

Entrepreneur magazine chooses collegiate entrepreneur of the year

Tuesday, December 21st, 2010

Most college students balance a low-paying job with hours of classes and social activities. For University of Michigan senior Allen Kim, it was a clothing business for babies that landed him as the recipient of College Entrepreneur of the Year from Entrepreneur magazine. Kim, 22, opened his own clothing supply company, Bebarang, that he calls [...]

Clean tech to pace venture capital funding in 2011

Tuesday, December 21st, 2010

Venture capitalists are always looking for the new or hot industry to invest in. According to Kachan & Co. – a clean tech analysis and consulting company – it will be clean technology that sets the pace in 2011. Though VC funding for clean tech slipped in 2009, CleanTech Group reports, stronger data for Q4 [...]

Ohio highly rated for new entrepreneurs

Monday, December 20th, 2010

Entrepreneurs hoping to get their business off the ground can look to the Buckeye State for support and the right climate, according to the Ohio Business Development Coalition – a nonprofit which markets the state's entrepreneurial markets. The acknowledgement follows the rating of Ohio as one of the 10 best entrepreneur and tax-friendly states by [...]

Bleacher Report receives fresh round of VC funds

Monday, December 20th, 2010

Bleacher Report – a growing location of open-source web content – received $10.5 million in new venture capital funding, according to TechCrunch. The company – which created a one-stop shop for user-generated sports content – received the new round of capital from VC firm Crosslink and includes $7.3 million from angel investors and an original [...]

Los Angeles entrepreneurs get help from Goldman Sachs

Monday, December 20th, 2010

As part of Goldman Sachs' 10,000 Small Business Initiative, entrepreneurs in Los Angeles will get exposure to new educational and operational services to boost their business. Additionally, there is an opportunity for small business owners to gain access to funding. Selected entrepreneurs will receive 80 hours of classes focusing on business education, financial advice and [...]

Entrepreneurs use software, websites more than social media

Monday, December 20th, 2010

New data from the Guardian Life Small Business Research Institute indicates that small business owners still rely on software and their company's website to find customers despite the emergence of social media as a marketing tool. A survey of small businesses employing two to 99 people revealed that the majority of respondents use software "to [...]

Clothing retailer secures $18.5 million in venture capital funding

Friday, December 17th, 2010

New York-based retailer Bonobos is heralded as the fastest growing men's clothing retailer on the internet. To return the favor, Silicon Valley-based venture capital firms Lightspeed Venture Partners and Accel Partners awarded the 3-year-old company with $18.5 million in funding. Bonobos, which started out selling strictly pants before expanding into full men's apparel, has tripled [...]

SBA boosts lending to entrepreneurial veterans

Friday, December 17th, 2010

Veterans hoping to open their own business will soon get the support they need from the U.S. Small Business Administration thanks to the extension of the Patriot Express Loan Program. The lending program was set to expire at the end of the year, but additional SBA financing will continue the program for another three years, [...]

New Orleans business consortium backs venture capital fund

Friday, December 17th, 2010

A team of small business leaders in New Orleans announced the creation of a venture capital fund aimed at drawing new entrepreneurial talent to the city, the New Orleans Times-Picayune reports. The investors will pair up with Greater New Orleans, an economic development association to increase VC funds for the New Orleans metropolitan area. The [...]

Central Florida remains in venture capital freeze

Thursday, December 16th, 2010

Businesses in the Orlando, Florida, area are still struggling to attain venture capital funding, according to the Orlando Sentinel. New data revealed that available VC funds dropped by 60 percent to $43.2 million between Q2 and Q3 2010, the paper reports. Meanwhile, 43 percent of small business owners in the area reported having cash flow [...]

MicroTech CEO honored as Entrepreneur of the Year

Thursday, December 16th, 2010

MicroTech president and CEO Tony Jimenez was named Entrepreneur of the Year by the Mid-Atlantic Hispanic of Chamber of Commerce last week. Jimenez is the head of a Virginia-based technology company which has not only grown by leaps and bounds, but has also had a significant impact on the community. These factors prompted the MAHCC [...]

Colorado association helping future entrepreneurs

Wednesday, December 15th, 2010

The Business Start-Up Institute in Colorado Springs, Colorado,is meeting head-on the challenges of fostering a new generation of entrepreneurs. As the rate of entrepreneurship climbs during unsettling economic times, the Institute has put formulated a program that will offer online courses to aspiring small business owners. The 21-course program will focus on planning, launching and [...]

NBA owner Dan Gilbert also a venture capitalist

Wednesday, December 15th, 2010

Cleveland Cavaliers owner Dan Gilbert received a great amount of attention when his team's former superstar LeBron James bolted for the Miami Heat. However, the millionaire should receive greater attention for his venture capital efforts, the Wall Street Journal reports. The 55-year-old Gilbert is one of three partners in a firm named Detroit Venture Partners, [...]

Small businesses feel little threat of cyber crime

Wednesday, December 15th, 2010

Small business owners do not allocate much time or financies into protecting their servers or networks, according to a November study by Visa and the National Cyber Security Alliance. The data revealed that 85 percent of respondents from the 1,000 small businesses surveyed do not see themselves at risk to cyber crime. Despite little concern [...]

Tips to acquire venture capital dollars

Tuesday, December 14th, 2010

After a lengthy period of planning, troubleshooting and organizing, small business owners must prepare to attain venture capital investments. Though success rates vary for each case, the path is often similar when it comes to attaining funding. By using these steps, an entrepreneur can increase his or her opportunities at acquiring the desired capital. A [...]

Billionaire invests in Massachusetts tech center

Tuesday, December 14th, 2010

The University of Massachusetts-Lowell will construct the new Merrimack Valley Center for Innovation and Entrepreneurship thanks to a $5 million donation from Andover, Massachusetts, billionaire Gururaj "Desh" Deshpande. Desphande, the chairman of A123 Systems and the founder of Sycamore Networks, offered the capital to increase technological leadership, provide education opportunities for entrepreneurs and offer grant [...]

Texas lagging in venture capital investments

Tuesday, December 14th, 2010

Texas has been praised for its ability to withstand the brunt of the recession. However, despite being home to three cities in Forbes magazine's "Top 10 American Cities Best Situated For Recovery," the state still needs greater venture capital dollars, according to the Dallas Morning News. A survey conducted by Monitor, a Cambridge, Massachusetts-based consulting [...]

Tips for Increasing customer loyalty when profits slip

Monday, December 13th, 2010

Most entrepreneurs will face a period of lean profits. There will be a time when business will not be as consistent as earlier months or years. However, it is during this period when small business owners should enhance their customer loyalty programs. With the amount of options available to consumers today, customer loyalty is far [...]