Small Business World News Round-up – 2009/10/05

Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from around the world.

US Home & Small Business News Roundup

  • When a Customer Becomes Too Important: If an entrepreneur notices that one or two clients are responsible for the bulk of the company’s revenue, it’s time to stop and remedy the situation.
  • Small business ARC loans pick up, but frustrations remain. A government effort to get badly needed cash into the hands of struggling small business owners is slowly gaining momentum, but entrepreneurs seeking the scarce loans are still in for a frustrating ride.
  • CIT shares plummet 45%: Shares of CIT Group, one of the nation’s largest lenders to small businesses, plummeted 45% Wednesday after a newspaper article said the company will hand control to bondholders or file for bankruptcy.
  • A grim year for small business lending: Here’s a telling statistic about the toll the recession is taking on Main Street: This year, the government’s top small business lending program got loans to 25,000 fewer entrepreneurs than it did last year.
  • Whitney Says U.S Rebound Hampered by Small-Business Loan Curbs: The U.S. recovery will falter as banks continue to curb lending to small companies, said Meredith Whitney, whose 2007 prediction that Citigroup Inc. would cut its dividend triggered a plunge in the bank’s stock.   

Canada Home & Small Business News Roundup

  • Upcoming Seminars: October is Small Business month and Small Business BC is sponsoring a series of seminars for entrepreneurs. Most are available throughout the province via video conference. For more information, go to smallbusinessbc. ca
  • Investment Angles: Angel investors may not have wings, but they can be the answer to an entrepreneur’s prayers, providing early-stage funding to deliver them from pre-revenue purgatory.
  • Data Backup: Every small business has sensitive data that needs to be protected and data backup is the best data protection. These data backup tips will help you establish a data backup system that will protect your critical business data from disaster.
  • Maple Ridge coffee shop keeps it all in the family: The Wheeler family of Maple Ridge quite literally built their small business from the ground up.

Australia Home & Small Business News Roundup

UK & Ireland Home & Small Business News Roundup

  • Small businesses hang on to employees: Despite rising unemployment, a large majority of SMEs plan to retain staff over the next year.According to alternative finance provider Close Invoice Finance, 68 per cent of SMEs are not expecting to make redundancies over the next 12 months, with only seven per cent intending to let staff go in 2009.
  • FDs call for corporation tax cuts: Despite calls for a cut, eight out of ten (84%) Finance Directors who were surveyed fear the rate of corporation tax will either stay the same or increase after the next general election, despite calls for a cut, potentially leaving UK PLC hamstrung, according to new research from leading business and financial advisers Grant Thornton.
  • Small businesses fear rated revaluation could hit them hard: The majority of small business owners fear they will be forced to pay inflated rates bills for five years, according to a survey carried out by the FPB ahead of October’s revaluation of rateable values.
  • Poor payment still the number business concern: Almost a quarter (23%) of respondents to the survey selected late payment and subsequently poor cash flow as their ‘key issue’ – more than those who voted for a lack of sales (20%), and complying with health and safety regulations (11%).
  • Small businesses in the East of England hope to create jobs but worry about credit: More than a tenth of small businesses in the East of England are already experiencing an upturn in trade, according to a new survey, and half hope to take on staff by September 2010.

WinWeb_Logo &

  • The Small business Blog- New Comments Rules : As of today I will change the way I will moderate new comments. The reason for these changes is SPAM. I will apply the following rules to all comments left:
  • Cloudsourcing for Small Business Tasks & Ideas: Every day a business owner needs to perform many different business tasks and sometimes it is just time to do a bit of outsourcing. You google ‘virtual assistant’ and hope to find someone to do the work for you. Some of these task may take too long for a single VA to do and you
  • Working from Home for Business Owners: Any self respecting business owner will have to think about running their business from home. Especially in an economic climate like this. working from home is the best way to cut cost and make ends meet. Working from home also allows you to be at home when the children get home from school, it can

As always this list is not exhaustive, but I hope it will give you a little overview. — ST.

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