Each week, Nav brings you relevant small business news from across the web that we hope you find interesting!
Top Small Business News
Small businesses can be very competitive with big business when it comes to hiring for certain positions. Here are the top 10 jobs small businesses are hiring for — as determined by Indeed — including truck drivers, legal workers, and management positions.
The Department of Labor has announced an update to the regulation that controls paid overtime laws. This update will increase the salary threshold for paid overtime from less than $455 per week to $913 per week. The new rule will mean more money in the pockets of some Americans, but for small business it can be an additional headache.
Chicago City Treasurer Kurt Summers is leading the charge for the regulation of alternative lending in the small business sector with the Small Business Lending Act of 2016, which would make Illinois the first state in the U.S. to “regulate predatory small business lenders operating mostly online and beyond the scope of existing regulations.”
Maria Contreras-Sweet, head of the Small Business Administration, discussed with the Wall Street Journal the complexities of small business access to capital, as well as the “big rocks” the SBA has been able to move recently. One of which, SBA One, will shorten the decision making process for SBA loan applicants, a huge pain point for small business owners seeking an SBA loan.
Wells Fargo small business customers now have a new financing option available to them: FastFlex. Announced just last week, FastFlex is a short-term loan product up to $35,000 that can be funded as soon as the next business day. FastFlex is available to customers who have an established Wells Fargo account that is at least one year old.
Melissa Hughes is a business coach, speaker, and author who works with small business owners and entrepreneurs. Her Twitter feed is filled with good vibes and quotes from prominent leaders, such as the one below by Jim Rohn.
Tally Technologies is a brand new business who is trying to help you better manage your personal credit cards. Tally helps their customers avoid late fees by offering them a Tally “line of credit” at a lower APR than the average APR of your credit cards.If you cannot pay off your entire Tally balance, the company makes money on that lower APR.They currently have a waitlist to try out the app, sign up here or stay tuned for what’s to come!
This article was originally written on May 20, 2016 and updated on November 2, 2016.