Small Business in the News: Nov 7 – 13, 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 7 –13, 2015.

American Express Removes Incentive for Small Business Saturday Shopping

Small Business Saturday is the "holiday" pioneered by American Express in 2010 with statement credits for spending money at small businesses the Saturday after Black Friday. This year, cardholders won't be seeing any statement credits at all. One possible reason is that American Express no longer needs to promote the day since Congress officially adopted it, solidifying its place between Black Friday and Cyber Monday. For certain cardholders, there is a small offer for a $10 statement credit if you "Shop Small in November," but there is concern that this move by American Express might negatively impact small businesses this year. Read more...

Salesforce Offers Small Businesses Increased Client Solutions

On Thursday, Salesforce announced an integration with Salesforce IQ CRM and Desk.com to bring enterprise capabilities to small businesses through one sophisticated platform. The free integration will offer small businesses increased insight into their clients' needs across both sales and customer service departments. Through studies conducted on the "Social Customer Service Index," they concluded that sharing customer service information throughout an organization allows the company to scale more effectively. This platform will allow growing businesses to manage retention while supporting accelerated growth in a scalable way. Read more... 

Rising Interest Rates Could Benefit Entrepreneurs

The interest rate hike that is expected in December could have a positive effect on small businesses around the country. Traditional lending, which was reduced significantly when interest rates and margins diminished, could see a resurgence. Alternative lenders, who benefitted by offering loans when traditional banks wouldn't, will see continued opportunity as technology, big data and customer experience are optimized to suit this change. Business will also have the opportunity to increase prices for the first time in years, as well as identify opportunities to increase market share and obtain additional talent and assets. Read more...

4 Catalysts Can Turn Your Startup into a Company

It's increasingly hard for startups to source the capital they need to grow their business, but there are several ways entrepreneurs can prove their worth to obtain the investment they need to be successful. Creating a strong business plan with a 1-2 year plan for profitability, leveraging your close network to financially support your initial growth, partnering with other successful business owners, and investing your personal dollars into the business are 4 key ways you can catalyze growth in your business for long term success. Read more...

Retiring Baby Boomers Creating Largest Change in Small Business Ownership Ever

The "silver tsunami" of retiring baby boomers, nearly 4 million of whom own small businesses, will create the largest changeover of privately held companies in U.S. history. Over the next 10-20 years, trillions of dollars will change hands as business owners sell their companies to family members, new buyers, or go out of business altogether. Many local businesses are seeking ways to keep the existing businesses within the local economies by encouraging workers to purchase the businesses from their retiring owners. Read more...

 

 

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