Welcome to this week’s small business news roundup! Below you’ll find some tax advice regarding the new small business health care credit, good news about small business hiring and bankruptcy filings, and advice from an entrepreneur about starting your own small business.
- Final Small Business Health Care Credit Guidance Issued: If you think you might be eligible for the new 2010 small business health care tax credit, you should know that the Internal Revenue Service (IRS) has released final guidance on the issue. Eligibility for the credit is based on the percentage of employee premiums paid for by the employer; those who pay at least half are eligible. The credit has many more details involved, so be sure to read up before tax season is upon you.
- Small Business ‘Surge’ in Hiring – ADP: We often hear that small businesses are the job creators in the economy, and data from a recent Automatic Data Processing (ADP) report seems to support that. Small businesses were responsible for 58% of new hires in the private sector in November, adding about 54,000 jobs; comparatively, large businesses added about 2,000 jobs while medium-sized businesses added 37,000.
- Small Business Bankruptcies See Nationwide Decline: Although bankruptcy rates in general have remained constant, the number of small business bankruptcies in major metropolitan areas went down in 11 of the 15 areas studied by Equifax; additionally, businesses in the east were less likely to file for bankruptcy protection than those in the west.
- A Path Towards Small Business Success: This article, written by Don McNay for the Huffington Post, shares the author’s experience starting out as a 23-year-old entrepreneur and offers lots of great tips for those who aspire to run their own businesses.
What’s new in your small business world this week?