Small Business in the News: March 19-25, 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 March 19-25, 2016.

3% of Businesses Help Pay Student Loans

It’s very rare that employers help employees pay off their student loans, but it’s something more businesses should consider. One study found that only about 3% of U.S. companies currently offer this perk, while another study found that mostly private sector companies are contributing. A few of these companies include Chegg, Fidelity Investments and CommonBond.  Read more…

Businesses in N.C. Condemn New Law

Large businesses operating in North Carolina are condemning a new law allowing people to use bathrooms that match their gender at birth. Some of these businesses (American Airlines, IBM, Paypal, and Bank of America) are making statements via Twitter, or threatening to withhold investments or large events, such as NCAA championship games.  Read more…

Entrepreneurs Turn to Big Banks for Loans

Business owners seeking lines of credit spike in the months leading up to tax day. A recent survey showed that small business loan approvals declined by a half percent in February, while big bank approvals remained consistent. Compared to national figures, small business loan approval rates are higher at big banks, institutional lenders, and alternative lenders in the NY metro area than anywhere else. Read more…

Big Business Customers of Verizon Hacked

Verizon announced hackers have stolen contact information in a recent data breach. It was reported by Brian Krebs that the information of 1.5 million Verizon business customers is up for sale on the “black market.” Read more…

Take Care When Starting a Small Business

Business tax expert, David Burton, warned small businesses to take care when seeking investors. According to the federal security laws, “transactions by an issuer not involving any public offering” have been exempt; however, he warns, there is no concrete definition of a “public offering.” If a company wants to sell stock, they must also register with the Securities and Exchange Commission (unless an exemption applies), which can cost up to $2.5 million in fees. Burton believes that’s unfair for small businesses raising a small amount of money from a few individuals. Read more…

 

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