Each week, Nav brings you relevant small business news from across the web that we hope you find interesting!
Top Small Business News
Since the Great Recession, the U.S. has experienced a slowdown in the creation of new businesses, and the growth that does exist is mostly concentrated in a few densely populated areas.
“In the early 1990s recovery, 125 counties combined to generate half the total new business establishments in the country. In this recovery, just 20 counties have generated half the growth.” And the data suggests that it’s the rural areas that have seen their business growth fall off a cliff.
Cuba announced this week that it will legalize private small and medium-sized businesses, effectively creating a non-state sector of the economy.
While attention toward the online lending space grows, the Electronic Transaction Association (ETA) conducted a survey of just under 600 business owners to gauge their experience using online lenders. A surprising 96% of the business owners surveyed experienced growth because of the online capital they borrowed, and “91 percent of them said they were likely to take another loan from an online lender in the future.”
MasterCard just announced the launch of Simplify Controls, a tool that will allow small business merchants to set a variety of e-commerce fraud prevention controls, including “maximum transaction size, country of origin, and number of repeat transactions.”
Did you know that small businesses are the No. 1 exporters in the U.S.?
And there are a number of resources available to help exporters. For example, this year the U.S. Small Business Administration (SBA) will award $18 million to promote small business exporting through the State Trade Expansion Program (STEP). STEP was initially created to grow the number of U.S. small businesses that export their products or services, and to increase the value of exports from small businesses that are already in the process of exporting. Check here for more info on the STEP program.