Small Business World News Round-up – 2009/12/15

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

  • Free tax help for small businesses: Thomas P. Ochsenschlager, vice president of taxation for the American Institute of Certified Public Accountants, will offer free, year-end tax planning and preparation tips in a Small Business Administration Web chat on Wednesday at 10 a.m. Log in to the…
  • CIT rises from the ashes: After a 38-day trip through bankruptcy, small business lender CIT Group emerged on Thursday and says it’s ready to charge back into the lending fray. Its next challenge: Rebuilding relationships with customers damaged by the bank’s struggles.
  • Buying the best insurance for your Business: It’s important to pay close attention to the kind of insurance you buy for your small business; otherwise you could face a shock when you file a claim.
  • Business inventors rise unexpectedly in October: Businesses unexpectedly increased their inventories in October, halting a slide of 13 consecutive declines. The small gain, along with a fifth straight increase in sales, raised hopes that businesses will begin restocking their depleted shelves, helping…
  • Most small businesses plan no ’09 bonuses, survey shows: More small-business employees can expect no end-of-year bonuses or gifts for 2009. A recent survey of small-business owners or managers by American Express’ small-business division shows that fewer of them are planning to give gifts or cash.

Canada Home & Small Business News Roundup

India Home & Small Business News Roundup

  • Sustainability and Passion to Succeed Drive SME Business Growth: Transparency and Smooth Processes Help Achieve Sustainability. – Success-Driven Management is a Prerequisite for SMEs to Turn Corporate – Good Ratings Enhance Credibility and Bring Better Prospects Taking a business from a one-man property to a corporate-type enterprise in India is no mean task.
  • RBI draws flank from panel: The carte blanche given to private and foreign banks by the Reserve Bank of India to charge interest rates on credit cards at their whims and fancy has come in for severe criticism by the parliamentary standing committee on finance.
  • Indian banks lent Rs 6,500cr: Amid the debt repayment crisis in Dubai, Indian banks on Friday said that they have an exposure of Rs 5,000-6,500 crore in the middle east city, but the bankers are not worried and said the development may not have major impact on their balance sheets.
  • MSMEs may get procurement preference in PUSs soon: Most of the public sector units will have to source at least one-fifth of their purchases from the micro, small and medium enterprises, if the recommendation of a task force headed by Prime Minister Manmohan Singh’s top aide is accepted.

UK & Ireland Home & Small Business News Roundup

  • Chancellor gives Scots little cheer: WILL a public sector squeeze combined with higher taxes for small businessmen and further restrictions on the pensions industry announced by Chancellor Alistair Darling in the
  • SMEs hit out against NI hikes: The Chancellor’s decision to increase national insurance contributions by a further 0.5 per cent in April 2011 has angered small business owners.
  • Darling pledges help for SMEs: The Chancellor announced proposals to help small businesses in his pre-Budget report.Alistair Darling committed £500 million for a capital growth fund to support small businesses and an extension to the Enterprise Finance Guarantee scheme.
  • FSB response to Chancellor’s Pre-Budget Report: The Federation of Small Businesses (FSB) welcomed measures by the Chancellor to give small businesses a helping hand by extending finance to small firms and calling off a 1p rise in small companies’ Corporation Tax in his pre-budget report.
  • Majority of SMEs have bad credit rating: Nearly two-thirds of small businesses have a bad credit score, says credit referencing agency Graydon UK.

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

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