Small Business in the News: Nov 28 - Dec 4

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 28 – December 4, 2015.

Small Business Saturday Sales Up for 2015

The Saturday after Thanksgiving saw record numbers of sales and shoppers this year, 5 years after the holiday's inception by American Express. Over 95 million shoppers patronized small businesses this year, spending $16.2 billion at independent stores and restaurants. The numbers correlate with an increased effort to promote Small Business Saturday by community organizations, small business coalitions and social media. It was the most successful Small Business Saturday to date. Read more... 

Strong Jobs Report Indicates Fed May Increase Interest Rates

For the first time in nearly a decade, nothing is holding the Fed back from increasing interest rates from their historic lows. The November jobs report documented 211,000 new jobs, while the September and October reports were adjusted to include an additional 35,000 jobs previously unreported. This means the unemployment rate has stayed steady at 5%, the lowest in 7 1/2 years. This meets the criteria for a rate hike set by the Fed in 2006. Read more... 

OnDeck Stocks Jumps After Announcement of Partnership with JP Morgan

On Thursday, JP Morgan and OnDeck Capital announced a partnership that will allow JP Morgan to utilize the proprietary risk profiling solution called OnDeck Score. The partnership follows the trend of several large banks around the country partnering with fin tech companies to gain access to modern lending solutions as small business bank loan approvals decline. The new big data analyses of alternative lenders could help big banks reverse the trend and provide more smb loans moving forward. Read more...

5 Costly Fees Small Business Credit Card Processors are Charging

Small businesses around the country are faced with 5 common fees charged by their credit card processor. Common fees include contractual obligations, hidden fees, teaser rates, variable terms, and miscellaneous charges. Unfortunately, it's almost mandatory to accept cards, so make sure to research each possible partner before signing on the dotted line. Read more...

Mark Zuckerberg Creates $45 Billion Company in Honor of Baby Daughter

Facebook CEO and new father, Mark Zuckerberg, announced this week the formation of the "Chan Zuckerberg Initiative," a limited liability company named for his baby daughter. The company will serve as a charitable organization dedicated to making the world a better place. Zuckerberg and his wife intend to transfer 99% of their wealth to the company, which some criticize as a move to keep their money and capital gains relatively tax-free. Read more...

 

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