Small Business in the News: Nov 14 – 20, 2015

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 November 14 –20, 2015.

Three SMBs Named Finalists For Coveted Super Bowl Commercial Slot

Now in its second year, Intuit QuickBooks has named three finalists in its competition for a small business to run a :30 second commercial during the upcoming Super Bowl. The spot is worth $5 million, with unquestionable additional benefit. Last year's winner of the inaugural competition, a girl's construction toy company GoldieBlox, is now on the shelves of Target and Toys R Us. The three small businesses, whittled down from a pool of 15,000, are Chubbies Shorts, Vidler's 5 & 10, and Death Wish Coffee Co. Read more...

Small Businesses Not Receiving On Time Payments  

In a report released on Thursday, small business cash flow solution Fundbox revealed that 64% of small businesses are affected by late payments. Furthermore, large businesses such as McDonalds, Walmart and Target account for a significant portion of the outstanding payments owned to SMBs. The states where payments to small businesses are the latest include Hawaii, Iowa and Alaska, while Wyoming and the Dakotas had the most timely payments. Read more...

Lawmakers Seeking Defined Scope of CFPB's Role in Regulating Online Lending

On Wednesday, Congress delivered a Request For Information to the Consumer Finance Protection Bureau for answers regarding its role in regulating online lending to small businesses. The RFI consists of 5 questions that will help define the scope of its role as well as the role of the SEC as online lending grows. There are concerns the CFPB might test the limits of its jurisdiction in regards to the burgeoning business sector even as it has failed to implement sections of the Frank-Dodd Amendment that require lenders document the demographics of the loan recipients. Read more...

Loans and Credit Cards Serve as Funding Sources for Small Businesses

Small businesses can benefit from having access to credit in the form of both loans and credit cards. Unfortunately, only half of startups survive the first five years in business, but having access to capital is a key element to thriving. A business loan can offer a low interest rate, a large credit line and an opportunity to secure additional loans in the future, while a business credit card can offer a grace period, perks and rewards and a way to keep personal and business purchases separate. Both should be used together for long term success. Read more...

10 Ways to Capitalize on Small Business Saturday

November 29th, the Saturday after Thanksgiving, is Small Business Saturday. Once a promotion created by American Express, the national holiday is now recognized by Congress, drawing over 88 million shoppers since 2010. Among 10 top tips to set your SMB up for success this holiday season, the primary theme is how to optimize your online shopping experience. It's important to have a well-designed website that is mobile friendly and incorporates robust security for credit card purchases. Read more...

 

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