Small business news from around the web: August 2014

by | US Economic News

You probably don’t have enough hours in the day to run your small business and read all of the latest news related to small business. So, we’re delivering news clips of recent relevant articles from top publications. Let us know what you think!

Wall Street Journal touts Accounting For America

  • Are you so busy running your business that you don’t have time to create financial statements as often as you should – and/or as in-depth as you should?
  • Would your cash flow predictions and overall business decision making improve with more up to date financial statements?
  • Are you in need of professional accounting services but can’t afford top dollar?

If you can answer “yes” to any of those questions, then this story is for you. Accounting For America is a highly successful nonprofit program that matches recent college graduates majoring in accounting to small businesses like yours. For more information about this program, see the Wall Street Journal article. According to the publication, “If Accounting For America can get traction and grow . . . it could be a game-changer for accountants and small-business owners alike.”

Kiplinger shares economic outlook

After years of worrying about the recession and its potential effects on your business, it’s good to read upbeat news. Read it and smile: On August 4, 2014, Kiplinger reported that the economy is predicted to maintain better than a 3% growth during the second half of 2014, continuing into 2015. Even more encouraging, consumer confidence is bouncing back, now at the highest level since before the recession. Hiring is on the rise, layoffs are low, and retail sales have increased, along with manufacturer output and motor vehicle sales. Short-term lending rates are expected to stay low through 2014. And, if you’re in B2B, you’ll be encouraged to hear that business spending is up 4.5 to 5%. For more specifics, read Kiplinger’s economic outlook.

Business Week reports on government hires

Although this piece of news isn’t surprising, it is frustrating. Earlier this month, the Small Business Administration (SBA) reported on government agencies and their commitment to award five percent of their contracts to women-owned businesses. Congress made this commitment 20 years ago but has not yet met this goal – and our government fell short again. Over the past year, approximately 4.3 percent of contracts were awarded to women-owned businesses. This totals $15.5 billion, which is great – but it’s still $2.3 billion short of the stated goal. In fact, over the past 20 years, Congress has failed to spend $63 billion, at a minimum, that’s been promised to women-owned businesses. The biggest deficit occurred in the Department of Defense, with the Department of Energy also falling short. Find more specifics of government spending figures here.

Small Biz Trends lists big mistakes made by small businesses online

This article is written by the chief editor for the Chamber of Commerce, and it provides information about the four biggest mistakes small business ecommerce sites make. Discover some of the things you can do to make your company stand out from the crowd. Watch this blog for more small business news that will help you to succeed. If cash flow is a challenge for you, consider invoice factoring. You can apply online now.

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