Small Business in the News: Jan 9-15, 2016.

We know there is too much to keep up with when you’re a busy entrepreneur, so we compile small business news highlights each week for you to read only what matters most. Here is a summary of the top stories for January 9 – 15, 2015.

Traditional Small Business Loans Receiving Increased Approvals

On Tuesday, Biz2Credit released a report documenting that small  business loan approvals from big and traditional banks increased to an all-time post-recession high. A major contributor to the uptick is “...the adoption of technological advancements on the digital platforms of big banks [that] has streamlined the loan application process and has resulted in lower chances of loans defaulting, thus increasing profitability and a higher volume of loan approvals," says CEO Rohit Arora. Read more...

Nonprofit Teams Up With Sam's Club to Support Small Business in America

SCORE, a national nonprofit dedicated to mentoring small business owners, announced this week that it is teaming up with Sam’s Club for the launch of the 2016 American Small Business Championship which provides funding, training and mentoring to its winners. Now in its second year, the competition will award a $25,000 grand prize to one small U.S. business. Two winners from each state will receive a small cash prize as well as an all expenses-paid trip to a regional training event for small businesses. Read more...

Small Business Owners Monitoring Trends for 2016

According to a new study from Manta, small business owners are watching what recent political rumblings will mean for business this year. Among the issues that could hinder their growth in 2016, an unstable global economy topped the list for nearly a third of respondents, followed by quality of partnerships and vendors, healthcare costs, presidential election results, and rising minimum wage. However, 83 percent of respondents were optimistic about business prospects in 2016. Read more...

4 Tips for Small Businesses Entering Tax Season

Since nearly nearly 60% of small business owners report that administrative burdens were the biggest problems posed by federal taxes and 85% rely on a professional to prepare their returns, here are some tips to keep this tax season hassle-free. Most important are to use an accounting platform to track all expenses, actually review your tax return, keep your 1099s straight, and make sure you're accounting for your home office or work car appropriately. Read more...

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