Small Business in the News: September 10-16, 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 September 10-16, 2016.

New Study Shows Millennials Are Well Prepared Business Owners

According to research from BNP Paribas and Scorpio Partnership, millennial entrepreneurs have launched twice as many businesses as boomers have. Millennials are shifting the status quo and are the most prepared in this market, largely due to greater access to capital and the necessary resources compared to previous generations. Read more…

Georgia Ranks as Top State to do Business

Area Development, a corporate site selection and relocation magazine, published their annual report, The Top States for Doing Business, and named Georgia as the top state to conduct business. The rankings were based off questions to site consultants on the top states in 10 categories that impact the companies’ location and facility plans. Following behind Georgia were Texas, South Carolina, Tennessee, and Alabama. Read more…

Financial Apps May Soon Lend Money

A new generation of start-up lenders are launching their own online portals to find and evaluate future borrowers. MoneyLion, a company dedicated to creating financial products and tools, can advise MoneyLion app users (with linked accounts) on things like when a loan might be a cheaper option, or to avoid overdraft fees with small emergency loans. The app uses artificial intelligence to analyze a person’s finances and needs. Read more…

OCC to Reveal Framework for Fintech Lending by End of Year

The Office of the Comptroller of the Currency plans to release their first blueprint outlining how to deal with marketplace lenders and other financial technology innovators in mid-December. One major concern is whether or not the OCC will provide a national charter for marketplace lenders and other fintech companies, similar to ones granted to banks. Under current laws, a marketplace lending company must comply with laws effective in each state in which it operates. Read more…

New Partnership Will Provide Restauranteurs Access to Capital

IOU Financial has partnered with RestaurantLink, which provides procurement and management solutions for restaurants, to provide access to fast and reliable financing for restaurant owners. This partnership will provide a unique, one-stop-shop for RestaurantLink clients. Read more…

 

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