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Small Business News Roundup: 5/21/10

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Yesterday we shared Small Business Hit with Big Credit Card Interest Hikes, and now it’s time to see what else has been going on in the world of small business this week.

From taxes to advice to inspiring survey data, there’s a little bit for everyone:

  • FACT CHECK: Health Care Small Biz Tax Cut Elusive: We’ve been keeping our eye on how the new health care small business tax cuts are going to work in practice; this week we heard some not-so-good news from the Associated Press. The AP reports that some small businesses that believe they are primed for tax relief may be in for a surprise because “[t]he credit drops off sharply once a company gets above 10 workers and $25,000 average annual wages.” Analyze those numbers carefully, folks!
  • Get your C’s in order for small business loan: This short article from the Shreveport Times recaps the main topic of discussion at a recent Minority Business Council meeting in Louisiana. The three C’s to get in order before heading to a potential lender are “collateral, capital, and credit,” and this is good advice for anyone looking to secure a small business loan in these economic times. Speaking of the economy . . .
  • Why start a business in this economy? No boss to answer to.: The Christian Science Monitor shares some interesting findings from a survey of entrepreneurs. For example, an overwhelming majority (91%) of respondents said “being their own boss” was one of the reasons they started a business, and 40% of respondents have actually found that the financial rewards were even greater than they expected.

Are you ready to start your own small business? Remember, Sunday marks the beginning of National Small Business Week, so now is the perfect time to put your plan into action — and if you can’t attend the conference, you can always participate in the webcasts.

What’s new in your small business world?

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