This past week was a big one for small businesses, especially up on Capitol Hill. Let’s jump right into this week’s roundup of small businesses news:
- House Approves Small business Lending Bill: The big news in small business this week is that just yesterday, the House of Representatives passed a bill that would create a small business lending program aimed at encouraging Americans to start and expand small businesses, lift the economy, and create jobs. Through the program, the Treasury Department would have $30 billion at is disposal to distribute to small community banks; in turn, it is hoped the banks will increase lending to small business owners.
- Venture Capital Isn’t For Every Small Business Owner: Gaebler.com reports on a Wall Street Journal article that may give some small business owners pause when seeking out venture capital to fund their enterprises. For one, venture capitalists often want to take a more active role in a business rather than just doling out money — and that may not sit well with some small business owners. This article is well worth a read if you’re considering going down the venture capital road.
- Small Business Owners Push for Swipe Fee Reform: Some small business owners feel that debit card fees are out of control, and their voices were heard by Sen. Richard Durbin (D-Ill.); Durbin’s swipe fee amendment was included in a financial reform bill passed by the Senate last month, but now as the bill gets tweaked before it’s sent to President Obama, supporters of debit card fee reform want to make sure it stays in there. Read more about their efforts here.
- Small Businesses Face Big Hurdles to Joining Gulf of Mexico Oil Spill Cleanup Effort: A surprising advocate of small business interests has emerged in the wake of the oil spill: actor Kevin Costner, who maintains that the bureaucracy involved with small businesses even getting their voices heard to share ideas is overwhelming; Louisiana senators on both sides of the political aisle are equally frustrated.
Do you have an oil spill story to share? What’s new in your small business world this week?