Small Business in the News: June 18-24, 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 June 18-24, 2016.

Entrepreneurs Continue to Face Challenges Accessing Capital

The Pepperdine University's Graziadio School of Business and Management and Dunn & Bradstreet revealed in a recent report that there has been a 13 percent increase in access to capital for small business owners in the last four years; however, the majority of those funds are coming from personal assets and not banks or online lenders. Only 38 percent of small business respondents stated they qualified for a small business loan in the last three months compared with 70 percent of mid-sized businesses. Read more....

Alternative Lending Stalls as Online Payments Take Off

Use of online payment services is the most popular alternative to traditional banking, with 19 percent of consumers using them and 24 percent indicating and interest in using them by next year. Respondents claim that speed, ease of use, and convenience as the primary reasons for using online payment services. Customers who borrowed money from peer-to-peer or marketplace lenders remained flat at 1 percent with no signs of growth. Read more...

Federal Regulators Continue to Monitor SMB Lending

Industry experts anticipate changes to online lending as federal regulators increase their oversight of small business lending. Lenders are concerned the increased oversight may hurt businesses trying to gain access to capital; however, concern lies in whether or not borrowers -such as mom-and-pop shops- fully understand the terms of their agreements. Read more...

Republican Plan Caps Small Business Tax Rate at 25 Percent

Business groups welcomed House Republicans’ plan to overhaul the tax code, but requested a closer look at the fine details. The plan calls for simplifying individual income taxes by reducing the number of tax brackets to three, with a top rate of 33 percent. Many small businesses pay taxes on their profits at the individual level, and their tax rate would be capped at 25 percent. Businesses would then have the ability to immediately write off investments in new facilities, equipment and technology, instead of depreciating the cost over time. Read more...

SBA Offers Small Business Loans for Businesses Near Pulse Shooting 

Businesses that were directly impacted by the mass shooting at the Pulse nightclub in Orlando can now apply for low-interest, economic injury disaster loans from the SBA. Gov. Rick Scott announced Thursday that the SBA made a disaster declaration for Orange, Brevard, Lake, Osceola, Polk, Seminole and Volusia counties; however, local business owners are concerned this is just a temporary fix for a long-term problem. Read more...

 

 

 

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