We gather the week’s best small business stories and bring them to you here.
A Strong First Quarter For Small Business
Just a year ago, the big banks were approving only slightly more than 10% of loan requests, while small banks gave less than 46% of applications the green light. We have seen a significant improvement. Certainly, the lending landscape has improved since the darkest days of the Great Recession in 2009. Read more (via Fox Business)
Small business owners bracing for online sales tax
The Marketplace Fairness Act, which could come up for a vote in the Senate as early as Wednesday, would force online retailers to collect sales tax for the state they’re shipping to. While most items sold online are technically taxable in most states, in practice, most states only require online retailers to collect sales tax if they have a physical presence in that state. For other sales, the obligation is typically left up to the buyer to report and few states enforce the requirement. Read more (via Washington Post)
Overstaffing Can Break Your Small Business
The difference between surviving and thriving often boils down to whether or not a business is overstaffed. A company can be too lean, yet smart business owners always know the people they want to hire next. Training new employees every few months is a drain on your time and resources, yet carrying more overhead than your business can handle could also destroy your company Read more (via Washington Post)
OPIC Invites Proposals For Launch Of ‘U.S. Bank Guarantee Loan Facility Program’
The principal goal of the program is to make loans available to small and medium enterprises. OPIC is going to encourage U.S. Banks to expand lending to small and mid-sized enterprises having projects in developing countries. Read more (via Biz2Credit)
America’s Next Hot Startup Town: Houston
In Houston the top 10 categories of startups are: accommodation and food services, arts and entertainment, professional and scientific services, construction, healthcare, educational services, IT, finance and insurance, manufacturing and mining, Arora said.Read more (via Forbes)
Mariah Courtney runs the social media program at Biz2Credit. She is passionate about entrepreneurship, writing, travelling, food blogs, social media, and her dog Sammie.