Small Business in the News: March 7-11, 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 7-11, 2016.

Feds to Invest $7 Million in Small Businesses

The federal government announced they’re investing almost $7 million in small businesses across the country. They are hoping to build partnerships with national laboratories to speed up the development of clean energy technology. The focus will be on advanced manufacturing, vehicle and building technologies, fuels cells, and renewable energy sources. Read more…

Small Business Employment Increased in February

According to the February ADP Small Business Report, private sector small business employment increased by 76,000 jobs from the previous month. Employment data that is specific to businesses with 49 or fewer employees is reported and distributed each month to the public. Read more…

Online Lenders Hold Large Market Share for Small Business

According to a Morgan Stanley report, online lenders lent $7.9 billion to small businesses in 2015. The year-over-year lending growth is proof that online lending is here to stay, but there’s a lot of growth ahead. Online lending currently only captures 3.3% of the total small business lending market, but it’s believed to claim as much as 20% by 2020. Read more…

Online Lenders Draw Scrutiny

This week the Consumer Financial Protection Bureau (CFPB) called for borrowers to alert the agency of any complaints against them. Although it wasn’t announced that any action would take place, industry experts believe this is a sign that the CFPB is closely monitoring the industry. Read more…

CAN Capital Announces Small Business Winners

CAN Capital, an alternative business finance company, announced the winners of their Take the Reins contest. Over 800 businesses applied, but only 10 small businesses were chosen to win $5,000 to put towards business essentials such as equipment, merchandise and technology. Read more…

 

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