Small Business in the News: October 24 - 30, 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 October 24-30, 2015.

Congress Revisits the "Joint Employer" Clause

On Wednesday, the House Committee on Education and the Workforce met to review the Protecting Local Business Opportunity Act, which aims to repeal the National Labor Relations Board’s (NLRB) recent decision to expand the definition of a “joint employer” under the National Labor Relations Act. This new definition has extended liability to employers that possess the authority to control the terms and conditions of employment, which has created ambiguity for franchisors/franchises and contractors/subcontractors. Some argue the current act will cause larger organizations to end relationships with local, smaller businesses, while others feel this act strengthens worker rights and protections. Read more...

Export-Import Bank Reactivation Under Consideration

The expiration of a bank you've probably never heard of is having an impact on small and large businesses around the country. The Export-Import Bank, which operates under a charter from US Government, serves local businesses that engage in overseas business by offering lines of credit to help them keep up their cash flow while awaiting overseas payments, and to get export insurance. The bank's charter expired at the end of June, and while votes in both the House and Senate have been overwhelmingly in favor of reactivating it, forward progress continues to be slow. Read more...

Small Business Satisfaction With Banks Declining

Across all small businesses, satisfaction levels declined from 766 out of 1000 business owners in 2014 to 754 this year reports a survey released yesterday from J. D. Power. Women-owned businesses report higher satisfaction overall than their male counterparts, however, with 73% of women vs. 69% of men feeling optimistic about the outlook for their business. Banks are taking note, said Jim Miller, senior director of banking at J.D. Power. “With their optimistic outlook, women are likely to want to grow their business, which means their banking needs will also increase, specifically their need for more credit.” Read more...

Alternative Lending Snapshot Reveals Landscape of Small Businesses Seeking Short-Term Capital

A report released on Tuesday reveals what type of business owners are turning to online business loans to serve their short-term capital needs. The report documented nearly 14,000 online applications over the first 6 months of 2015 to provide a high-level overview of how alternative lending is filling a major void in the small business lending sphere, as well as attracting businesses that qualify for traditional loans. This data demonstrates how alternative lending is serving a large need and will likely continue to grow as a reliable resource for small business loans. Read more...

Money2020 Conference Addresses Roadblocks to Progress in Alternative Lending

The Money2020 Conference just wrapped up in Las Vegas, leaving many wondering about the future growth of alternative lending as regulators step in. “A regulatory response without a deep understanding (of the industry) would be a problem,” says Ori Lev, a partner at K&L Gates. Alternative lending has allowed for the expansion of technology-driven lending to a wider rand of applicants, including those in lower income ranges, due to the extra factors that online lenders use to calculate risk beyond FICO scores and other traditional metrics. Read more...

 

Recommended Posts:

Small Tech Companies See A Bright Future

Andrew Raab

As technological advancements occur every day, it’s no surprise the tech...

Small Business in the News: March 11-17, 2017

Hunter Stunzi

We know there is too much to keep up with when you’re a busy entrepreneur, so we...

Small Business in the News: March 4-10, 2017

Hunter Stunzi

We know there is too much to keep up with when you’re a busy entrepreneur, so we...