Healthcare Reform Will Save Small Businesses an Estimated $855 Million

June 24^th, 2009

            

In a report released by the nonpartisan Small Business Majority and featured in the Daily Dose blog, healthcare reform could save America's small businesses $855 million in the first 10 years.

Healthcare reform is a hot topic in the halls of Congress right now. Increasing costs have forced entrepreneurs and small businesses to make tough choices about whether to provide coverage or not.

The Economic Impact of Healthcare Reform on Small Businesses report noted that successful reform will require shared responsibility among the healthcare industry, businesses, government and individuals.

In an interview with Entrepreneur.com, Small Business Majority CEO John Arensmeyer commented "Not enacting healthcare reform is going to be an unmitigated disaster, but implementing a system based on the framework Congress is working on right now--even with the [controversial] mandates for employee coverage--will be a tremendous benefit to small business. Even the most conservative versions of reform will produce better results."

Up to 178,000 jobs could be lost by 2018 and small business employees will see $12 billion in lost wages this year alone if healthcare reform fails.

While debate is ongoing, Arensmeyer is optimistic a reform package will be completed this year.

Posted by: Nathan (Nathan)

Posted in: Business Articles | Human Resource Management | Small Business Best Practices | Comments (0)

Startup Resources - 4 Resources Every Small Businessman Should Know

June 2^nd, 2009

            

When getting a small business off the ground, you want to have all the knowledge you can to make the right decision...but finding the right ones that will actually be useful can be very time consuming.

An article in Entrepreneur Magazine's April, 2009 issue - Best Resources for Startups - lists 4 resources every aspiring small business owner, and even those who are well established, should be familiar with.

1. SCORE - A nonprofit organization with over 400 chapters and 12,000 working and retired entrepreneurs and business people that provides mentoring online and in-person for free.

2. Small Business Development Centers - Located across the country and usually connected to a university, these organizations provide consulting for just about anything facing a small business.

3. Small Business Administration - Federal government agency that provides an array tools to help new and aspiring entrepreneurs succeed. It's recommended you start with their Start-up Assessment Tool to help find the right resources.

4. U.S. Chamber of Commerce Small Business Center - An arm of the U.S. Chamber of Commerce that provides comprehensive assistance for startups through web-based tools and resources.

These are just a few of the many resources out there...but, they're most likely the most reliable for accuracy and impartiality.

Posted by: Nathan (Nathan)

Posted in: Business Articles | Small Business Best Practices | Small Business Marketing | Comments (0)

Get Financing for your Small Business from SBA's Basic 7(a) Loan Program

April 22^nd, 2009

            

Recently perusing the Online Incorporation MaxBlog, I discovered there is a government program from the U.S. government that provides loans to small business trying to get started.

Called the Basic 7(a) loan program, the Small Business Administration makes capital available to ventures trying to get a foothold in their respective markets - loans are provided by private lenders that participate in the program. They are made on a guaranty basis, which means the institution structures the loan according to SBA guidelines while the agency guarantees a portion of it in the event of default.

Any business looking for a 7(a) loan must meet SBA's requirements in order for a financial institution to loan them money under the guaranty basis. These criteria include: meet SBA size standards, be for-profit, not already have the resources themselves to provide the capital and be able to demonstrate repayment.

Not all private banking institutions participate, but many do...check with your local bank to see about obtaining a loan for your small business.

Learn more about SBA's Basic 7(a) Loan program here.

Posted by: Nathan (Nathan)

Posted in: Business Articles | Small Business Best Practices | Comments (0)