The United States Unemployment Rate

The Bureau of Labor Statistics’ website gives you a clear idea of the United States unemployment rate in this country.  Certainly, it is the lowest unemployment rate for the last ten years in the United States and many economists predict the economy still has room to grow.

So, if employment is not an issue for many workers, what are some of the perks you can offer to attract and keep quality employees for your business?

Businesses across the globe understand that employees can make or break a business, which one do you want to be? What are some of the benefits you can include in hiring an employee for your business?

To read more about this and other stories, follow the links below.


The Smaller the Small Business, the Bigger the Insurance Discontent: J.D. Power

Not all small businesses are the same when it comes to customer satisfaction with their commercial insurance. There are actually widening satisfaction gaps among small businesses of different sizes, according to the J.D. Power 2017 U.S. Small Commercial Insurance Study.

The study found that the gaps in overall satisfaction among micro- (fewer than five employees) or smaller-size (five-10 employees) small businesses and larger-size (11-50) small businesses have never been wider. While there has been significant year-over-year improvement in overall satisfaction among customers in the larger-size group, there have been sharp declines in satisfaction among customers in both smaller-size groups.

“The small business market has been the best growth area for property and casualty insurance carriers in a stagnant, soft cycle marketplace,” said Greg Hoeg, vice president of U.S. insurance operations at J.D. Power. “Our data shows that the small commercial market is still ripe for competition. While looking at the small business market in aggregate shows relatively steady levels of customer satisfaction year over year, the serious gap between very small businesses and larger small businesses could present an opportunity for those carriers that get the small business formula just right.”


What Kind Of Small Business Employees Do You Need To Grow Your Company?

Many small businesses benefit from hiring employees. At some point, you may decide that you need more hands on deck at your company. When that time comes, you might not know where to start. You want individuals who will make a difference in business operations. What kind of small business employees do you need to grow your company?

Knowing what to look for in a candidate is not as easy as it might seem. After 30 years in entrepreneurship, I’ll be the first to admit that looking for employees to hire can be tough. When hiring an employee, you need to know what characteristics to look for.

What Kind Of Small Business Employees Do You Need To Grow Your Company?

There are many different types of employees in a business. Companies have leaders, followers, go-getters, and employees who do the bare minimum.

You will have employees who struggle from time-to-time or lose motivation. Highs and lows are inevitable in life. But with the right attributes, your employees will use their skills to grow your company.

Whether you’re hiring your first employee or ready to give a pep talk to your current workforce, consider the following characteristics.


 

Small Business and The Senate’s Health Care Bill

As a small business owner, do you offer health insurance to your employees?  Many businesses do not offer health insurance for their employees, and small business owners specially feel the pinch when offering health care coverage to them.  The Senate Health Care  Bill-if it passes-would alleviate some of the burden these small businesses feel, keeping in mind though that some other people would have to pick up the tab for it.

For more about this and other news, follow the links below.


Senate’s Health Bill Would Make Life Easier For Some Small Businesses

Some small-business owners burdened with high health care costs would get a break via an obscure provision in the health bill proposed by the GOP Senate. The provision would offer less regulation, more bargaining power and better prices.

But those benefits could come at a cost to others.

The clause, included in the proposal advanced by Senate Majority Leader Mitch McConnell, R-Ky., last month, would exempt insurance policies sold through “associations” from most Affordable Care Act mandates and state regulations. To be able to offer these plans to their employees, small businesses join an association, which may be loosely based on certain types of professional, trade or interest groups that offers insurance to members.


New Senate Healthcare Bill Slams Small Business Owners And Savers

Senate Republicans today released version 2.0 of their Obamacare “repeal and replace” bill, the Better Care Reconciliation Act (BCRA).

This version of BCRA is a major lurch to the Left from the original BCRA and conservatives supporting this process have some things to think about.

A Tax Hike on Small Businesses and Savers

The major departure from the original BCRA is that v2.0 fails to repeal the 3.8 percentage point Obamacare surtax on capital gains, dividends, and other savings (the “net investment income tax,” or NIIT). It also fails to repeal the 3.8 percentage point tax bracket for the self-employment tax and the payroll tax ostensibly earmarked for Medicare

In failing to do so, v2.0 of BCRA raises taxes by over $230 billion over a decade relative to v1.0 of BCRA.


US small-business optimism dips in June, remains near high

A gauge of U.S. small-business confidence fell in June as business owners expressed frustration over gridlock in Washington, according to a National Federation of Independent Business report released on Tuesday.

The group’s Index of Small Business Optimism fell to 103.6 last month from 104.5 in May, although it remains near its highest level in more than a decade. The index surged following the election of Donald Trump as U.S. president last November, and in January hit its highest level since December 2004.

The rise was largely attributed to business owners’ optimism surrounding Trump’s promises of deregulation, tax breaks and infrastructure spending.

But Congress’ inability to deliver on those promises has muted confidence as business operators grow wary of political infighting over the health-care reform legislation, and prospects for tax reform are uncertain.


 

Taking Your Business To A Better Place

After a holiday break or vacation break, we do come back to our business ready and inspired to do better.  We look for ways to improve, and we try to make less mistakes.  Not always, but a break from any business is a good motivator to come back stronger.  As you look into your business, can you see what things to improve and what things to let go? Are you inspired to try something new? 

Read more business news by following the links below.


U.S. factory orders fall; core capital goods orders revised up

WASHINGTON, (Reuters) – New orders for U.S.-made goods fell more than expected in May, but orders for capital equipment were a bit stronger than previously reported, suggesting the manufacturing sector remained on a moderate growth path.

Factory goods orders dropped 0.8 percent, the Commerce Department said on Wednesday after a revised 0.3 percent decline in April. It was the second straight monthly decrease in orders.

Economists polled by Reuters had forecast factory orders falling 0.5 percent in May after a previously reported 0.2 percent drop in April.

Factory orders were up 4.8 percent from a year ago.

Manufacturing, which accounts for about 12 percent of the U.S. economy, is losing momentum after gaining steam since mid-2016 amid a recovery in the energy sector that led to demand for oil and gas drilling equipment.


How to take your business from small to big

Q:  I have owned two small businesses and am ready tostart another. I am wondering about growth. My businesses have always stayed fairly small. This time, I want to create something that can scale big. But how? So far, it’s not in my wheelhouse. — Manuel

A: In my book The Big Idea, I looked at people who had unique ideas for businesses and examined how they took that nugget and turned it into a brand  —  things like the Xerox machine, Velcro, Kitty Litter,the cell phone.

While that book looked at breakthrough, innovative products, the idea here is the same, namely, how do you create growth?

Let’s note up front that luck plays a factor, just as it does in life.

When George de Mestral went for a walk one day, he never expected that he would end up with burrs in his sock. But as luck would have it, he did, and decided to look at them under the new microscope he (luckily) had recently purchased.


Ask Doug & Polly: What causes most small businesses to fail?

QUESTION:  What most often causes small businesses to fail?

ANSWER: We’ve heard a lot of people say that the inability to get funding is the thing that causes small businesses to fail.

On the one hand, this may be true. If small businesses had access to an unlimited source of funds, they would never fail.

These businesses also might never make a profit, but as long as they could continue to go back to the well for more funding, they could stay afloat.

We would argue that failure to obtain funding is usually a symptom of a more fundamental problem, but not in and of itself the cause of business failure.

The more fundamental problem is that the business owner has not adequately answered the first question that every business must answer: Why should a prospective customer buy my product or service rather than a competitor’s?


 

Ohio Business Tax Cut and Medicaid Freeze

If you haven’t heard the latest news about Ohio’s Business Tax cut, then here we have them for you. How about the Repeal of Obamacare? We have an article for you as well.  But if you are a small business owner, and make more than $250,000, then the business tax cut may benefit you and you would like to continue like that.  But, if you are dealing with other issues, like when to open a second location for your shop, we have those articles for you too. Read more about these issues by clicking the links below.


Ohio budget panel votes for Medicaid freeze

House, Senate still must approve

COLUMBUS — Republicans generally were not happy when Gov. John Kasich did a run around them four years ago to use a budgetary panel to draw down billions in federal funds to partner with Obamacare to expand Medicaid.

While they quietly appropriated the money to keep the program running in the current two-year budget that will expire Friday, they’re not being quiet anymore.

A House-Senate budget conference committee on Tuesday voted 4-2 along party lines to keep a Senate-passed provision requiring the state to ask for federal approval to freeze enrollment in the program beginning on July 1, 2018.

That provision might force Mr. Kasich to again thwart his fellow Republicans by exercising his line-item veto authority.

Those already in the program would continue to receive coverage. But after that date, the program could not accept new enrollees and would not allow those who were previously on the program but dropped off because of a short-term change in their eligibility status to re-enroll.


New analysis says much of Ohio’s business tax cut goes to the rich

When talking about Ohio’s controversial business tax deduction, Republicans often paint the picture of hard-working, small-business, mom-and-pop-type operations.

“The people I see benefiting from this in my hometown own small restaurants downtown, coffee shops, florists, dry cleaners, folks like that,” Sen. Matt Huffman, R-Lima, told his colleagues Wednesday night.

Senate Finance Committee Chairman Scott Oelslager, R-Canton, added: “They go to work every day, turn on a light in their stores, factories and farms and hope somebody comes in and buys their product. We have lifted the spirits of these people.”

But a new analysis by the Ohio Legislative Service Commission indicates that as much as $450 million a year of those business tax cuts are benefiting a wealthy slice of wage earners who represent only 0.5 percent of the state workforce and just 5 percent of those claiming the deduction.


When To Open A Second Location To Grow Your Small Business

“When you are completely booked solid, you have only two options: raise your rates or expand (or both!)” says Rachel Beider, licensed massage therapist and owner of Massage Williamsburg, in Brooklyn, NY. Beider’s solution to growing a small business was to add a second location in Brooklyn, named Massage Greenpoint.

“After raising our prices, we still had long waitlists of clients,” she explains, “and I knew that many were coming from the neighborhood just north of ours.” So Beider found real estate a little farther north from her original studio and opened her doors. Massage Greenpoint has been open now for six months and is continuing to grow. “It is the best investment that I’ve made,” she says.

Many business owners question whether it’s time to open another location, wondering if they’re creating new opportunities or spreading themselves too thin. While you can never know for certain before taking the leap, these entrepreneurs found that certain conditions were signs that the timing could be right.


 

Do You Know How Your Small Business Is Doing?

Some of the least enjoyable tasks a small business owner must do is managing their books or creating financial reports.  These chores can also be detrimental to the health of any business if they are not done properly or not done frequently enough.  With all the other tasks small business owners do on a daily basis, accounting should probably not be one of them.  There are too many pitfalls for a small business owner to perform their own accounting, and can prove to be financially irresponsible not to have an accountant  do them for them.

For more about this and other topics, follow the links below.


Survey: small business owners remain optimistic about growth

Small business owners are largely optimistic about their ability to grow business and raise revenue in the year ahead, mirroring Wall Street’s sanguine outlook, according to a new index survey released Wednesday.

The MetLife & U.S. Chamber of Commerce Small Business Index produced a score of 60.6. That means 60.6% of small business owners currently have “a positive outlook for their company and the environment in which they operate,” according to a statement from the insurance company and the business advocacy group, which plan to update the index every quarter. The survey was based on telephone interviews with 1,000 small business owners and operators.

A similar percentage of respondents, 60%, expect revenue to rise in the year ahead, compared to 9% who forecast a revenue decline. But they weren’t as eager about boosting their payrolls. About a third of them said they plan to hire more employees, while a majority said they’ll retain their current staffing levels.


Small business owner: Here’s how not to be a starving artist

You live for your art. Every day, you paint or compose music or write short stories or make beautiful hand-crafted objects. But every day, you also need to eat.

If you aren’t  engaging in your art just for pleasure, you’re not only an artist, you’re a small business owner. And if so, it’s all the more important that you realize that starving artists don’t actually last very long.

Here’s a dirty little secret of successful artists: You have to plan on how to make money. Many creative types believe (wrongfully) that if they just pursue their art, the world will discover them, and they’ll become rich, or at least they won’t starve. If only that were true.

Whether you work for yourself or are hired by other companies, especially as a freelancer, here are five tricks to be smart about your art.


Voices 3 key small business questions CPAs must be able to answer

Probably the number one question most clients want to know from their tax professional is, “How much do I owe?” But that’s just the beginning for many small business clients who want their accounting professional’s advice on a variety of business-related questions.

Being able to answer these key questions can help you build a richer relationship that can lead to higher client satisfaction, retention and referrals.

1. How is my business really doing?

Owning a small business can be a lonely proposition; entrepreneurs often feel that nobody really understands their business and the challenges it faces. Their accounting professional often comes the closest, and is someone who can provide real insights.

“I love asking my accounting firm what their thoughts are on my financials,” said Allen Walton, founder of SpyGuySecurity.com. He’s built a multi-million-dollar company in just three years, and worked with a bookkeeper from the beginning, but just hired a CPA last year. With such fast growth, he wants to know whether his business looks healthy and whether there are any areas of concern.


 

Tips And Advice To Have A Healthy Small Business

Having a financially healthy business is always a major goal for most business owners.  Profits that the business has for the fiscal year, allows it to invest in people and business needs without having to resort to borrowing money from the banks.

Planning and organization seem to be extremely important for any business, but for having a healthy balance sheet, those skills are too important to ignore.  If you don’t have a clear number of the business debt you have, you cannot take the necessary steps to be debt free, or to establish a plan to be debt free.

For more about this topic, follow the links below.


5 Steps to Getting Your Small Business Debt Free

Debt is a necessary part of running a small business. A business loan, line of credit or a business credit card can help your company hire new employees, purchase equipment and finance growth. But too much debt can stifle cash flow and put your business at risk. And the less you owe, the more you have to reinvest.

The average U.S. small-business owner has $195,000 of debt, according to a 2016 study by Experian.

Small Business Debt Management Tips

Here are five steps to digging your business out of debt.

1. Take Inventory of Your Debt

Sort all of your debts by interest rate and monthly payment. This includes payments on business loans, lines of credit and business credit cards as well as outstanding payments due to vendors.

This process can help you prioritize which debts to tackle first. Some experts recommend starting with the highest-interest-rate debt.


Bad for small business

The Republican leadership’s plan now headed to the Senate repealing the Affordable Care Act (ACA) and replacing it with a poor substitute would prove particularly harmful for my business and for the more than 4 million small-business owners, employees and self-employed entrepreneurs who have gained access to affordable coverage under the landmark health care law.

Instead of looking out for small-business owners who are critical components to the strength of local economies, this plan pushes back the tax credit and hurts us all. Lawmakers who supported this so-called reform are trying to bring us back to a time when we paid more for less coverage and could not afford to cover our employees.

Adjustments made through the ACA helped even out the market and cut costs with tax credits for small businesses. Those have not been protected with this new plan. Also, when cuts to housing, food benefits and especially Medicaid are a threat, it weakens our ability for economic growth.


Small business owners: Tax Reform can’t wait

National Federation of Independent Business (NFIB) tells House Ways and Means Chairman the time is now for comprehensive tax reform

by Jack Mozloom

The National Federation of Independent Business (NFIB) told House Ways and Means Committee Chairman Kevin Brady (R-TX) today that small business owners expect comprehensive tax reform this year and that it must feature parity for businesses of every size.

“Tax reform has the potential to have an enormously positive impact on small businesses; it is their top priority in 2017,” said NFIB President and CEO Juanita Duggan in a letter to chairman Brady this morning. “Given that small businesses account for nearly half of the gross domestic product (GDP) and private sector workforce, and create two out of every three net new jobs, the U.S. economy will not reach its full potential for growth without a robust and flourishing small business sector.”


 

Small Business Lending

Looking for a new small business loan?  How about Free business tools for your business?

According to new reports, the loan approval rate has increased this last past month to an all time high.  Which means, it’s a good time for you to apply for that new business loan you were hoping to get. 

Looking for new ways to grow your business?  There are twenty business tools for free you should be using if you want to grow your business.  From shopping carts to accounting apps, these free business tools can make your business a bit less difficult.

To read more, follow the links below.


Small Business Lending at Big Banks is On the Rebound, Says Biz2Credit

Loan approval rates at big banks rebounded after a setback month, the latest Biz2Credit Small Business Lending Index has revealed.

Biz2Credit Lending Index April 2017

Big Banks, Small Banks and Institutional Lenders Give Businesses a Reason to Cheer

According to the newly published report, loan approval rates at big banks grew by two-tenths of a percent to a new all-time index high of 24.3 percent. This marked recovery from last month’s stagnant percentage, which ended a seven-month streak of increases.

Rohit Arora, Biz2Credit CEO said, “Recent interest rate hikes and the Fed’s announcement that it will start unwinding the $4.5 trillion in bonds on its balance sheets signals a strong economy. Since most small business loans are tied to U.S. prime interest rates, there will be more incentives for banks to approve loan requests as lending in this sector will be more profitable.”


Billionaire Richard Branson reveals his best tips for making great business decisions

If Richard Branson is your dream mentor, you’re in luck — the billionaire entrepreneur just revealed some of his best tips for making business decisions.

Everyone knows how important first impressions are when meeting someone — in fact the subconscious decisions people make within a tenth of a second are so strong that often contradictory facts can’t change them. But you have to fight the urge to rely first impressions when it comes to business decisions, says Branson. “You mustn’t allow that first reaction to influence your ability to objectively weigh the cons as well as all the pros when they are presented,” he advises.

Branson also suggests uncovering an idea or project’s “hidden warts.” They’re there, he assures, because nothing is perfect. You want to know about them early in the decision-making process while you still have the time and ability to deal with the issues. According to Branson, more learning is almost always better, just don’t get into “‘paralysis by analysis’ mode,” he says. At some point you have to decide, “screw it, let’s do it,” as he’s famous for saying.


20 Free Tools Your Small Business Should Be Using Today

Software doesn’t have to be expensive for small to midsize businesses. To help you celebrate National Small Business Week, here are 20 free tools to get your SMB up and running.

Although your small business needs a healthy amount of software to conduct operations, it’s not necessary for you to spend a fortune on web-based products. In our comprehensive testing of business and consumer software, we’ve come across dozens of incredible and free solutions that can help you get the job done. We’ve tested free tools in almost all facets of business — from email marketing to endpoint protection to project management.

To help you celebrate National Small Business Week this week, we’ve compiled this list of 20 free tools that your small business should be using. Fortunately for you, all of the software listed below offer premium versions to which you can upgrade once your business grows. So don’t shy away from the products on this list under the false assumption that you will eventually scale out of this category.


 

Best Cities For Small Businesses. Where Are They?

Even though the number of added jobs for the first quarter of 2017 was not what analysts were expecting, the fact that businesses — if not hiring yet-are compensating employees with higher wages or other type of incentives is good for the economy.

The optimism small business owners indicated were feeling at the beginning of this administration, has not translated completely to added jobs.  When the second quarter arrives, we hope to have a clearer view of added jobs that will boost the optimism of the small business owner for 2017.

To read more about this and other topics, follow the links below.


The best city for small business in America is not in Silicon Valley

New York City surpassed Silicon Valley to become the top city for small business, according to Biz2Credit’s annual study of the Top Small Business Cities in America. New York’s growth has been fueled by the booming real estate market and the construction industry, banking and finance (including fintech), and the city’s thriving technology sector.

New York City overtook last year’s small-business city leader, San Jose, the hub of Silicon Valley, which dropped to the No. 4 spot on the list. Technology companies in Silicon Valley are still thriving, but it’s the supplementary companies that are faced with challenges of growing. The skyrocketing cost of living in Silicon Valley impedes the profits of many firms. Commercial rents, housing and labor costs weigh down non-tech businesses dramatically. Furthermore, taxes are higher in California, in general. Lacking that economic balance in the area has prevented San Jose from reigning as the leader in top small-business cities this year.


Small businesses hired fewer workers in April but gave their employees raises, Paychex survey shows

Small business hiring fell in April, but wages continued to rise for workers, a report by human resources firm Paychex said Tuesday.

The Small Business Jobs Index decreased 0.22 percent from the previous month to 100.50. The pace of small business employment growth is down 0.27 percent from a year ago, the company said.

“The decline in the April index mirrors what was reported last month by (the Bureau of Labor Statistics), which showed deceleration of job growth,” said Martin Mucci, Paychex president and CEO. “At the same time, the wage report shows continued growth in both hourly earnings and hours worked over the past year.”

The Bureau of Labor Statistics reported last month that nonfarm payrolls grew less than expected, but average hourly earnings were up by 2.7 percent on an annualized basis.

Paychex said national hourly earnings for the month were $25.67, increasing 2.73 percent, or 68 cents, from last year. Weekly earnings were up 2.92 percent from last year.


These 4 tips will help small business owners drastically boost their earnings this year

Whether you’re running an established small business or just starting your journey toward entrepreneurship, it’s safe to assume most business owners are on the hunt for new ways to grow their enterprise and improve their bottom line.

And we should all want to help them do so. Why? According to the Small Business Administration (SBA), small businesses create nearly 70 percent of net new jobs nationally, and drive tremendous growth in our local economies. When small businesses flourish, everyone wins.

My father-in-law is a small business owner. As a result, I have seen first-hand the sacrifices they make on a daily basis, and am driven to design products and provide resources to help small businesses meet their goals and fulfill their dreams.

 In honor of National Small Business Week, here are four ways small business owners (SBOs) can drive business growth this year.


Does Your Small Business Need Financial Help?

Do you believe your small business can benefit from a small business loan this year? Do you know where to apply for one?  Small businesses in Michigan are getting workshops and small business loans for their business to help them grow.  The requirements to apply for such loans are minimal and depending on your business, the ROI when you apply for such loans can be monumental.  For more information about this, follow the links below.


Small business owners get help and inside tips in special workshop

Small Business Workshop in Detroit’s Tech Town.

DETROIT, Mich. (WXYZ) – Small business owners are getting ready for a special workshop designed to help them grow their companies. The event is loaded with information for current leaders and aspiring ones. CLICK THE VIDEO PLAYER TO FIND OUT WHAT YOU NEED TO KNOW ABOUT THE UNIQUE EVENT.

The month of May is considered “Small Business Month.”  The LEE Group, is teaming up with Fifth Third Bank and the Michigan Women’s Foundation, for the annual Small Business Workshop.

It’s set for Wednesday, May 3, 2017, 7:30am-1pm, at TechTown, located at 440 Burroughs, in Detroit.

The cost is $75 and includes a continental breakfast.  For more information and to register, please visit: http://leegroupinnovation.com/small-business-workshop/


Small business sales hit record in first quarter

Small businesses remain hot commodities, with first-quarter sales of companies reaching the highest point recorded by BizBuySell.com.

The internet marketplace tallied the number of transactions reported by business brokers nationwide.

BizBuySell.com counted 2,368 closed transactions, up nearly 29 percent from 1,840 in the first quarter of 2016. The improving economy is encouraging current owners to put their companies on the market and spurring buyers to look for businesses, BizBuySell.com says.

Companies that are being sold are healthier than a year ago, with an average $518,159 in annual revenue, up more than 8 percent from $478,000 a year earlier. And sellers are getting better prices; the median sale price was $237,000, up nearly 8 percent from $220,000.


NEIdeas offers $400,000 in grants to help small businesses grow

Small businesses in Detroit, Hamtramck and Highland Park can apply for $400,000 in grants to help them grow.The New Economy Initiative program targets companies that are at least 3 years old.

Applications for the NEIdeas: Rewarding Ideas for Business Growth challenge will be accepted from May 1 through June 1. Information sessions begin Tuesday.
The applications will be reviewed by a jury of local small business owners and past NEIdeas winners.Twenty businesses that gross less than $750,000 annually will be selected for $10,000 awards.
Two business that gross more than $750,000 and less than $5 million annually will be selected for $100,000 awards.NEIdeas has awarded $1.5 million to 96 local businesses since 2014 and connected others to technical assistance opportunities.


 

Healthcare and Small Business Borrowing

Businesses in the United States  are still waiting to see what happens with healthcare, and other policy changes in the new administration before they commit to investing or hiring, or any other change that can affect their business.  The euphoria of the Election is passing, and with it the high optimism businesses felt.  Numbers are not as promising as analyst predicted, jobs felt short by more than 100K, and the business community is waiting.

For more about this and other stories, follow the links below.


Small-business sentiment declines as post-election euphoria runs out of steam

Small-business owner optimism declined in March as sales expectations and earnings came back to earth after a post-election surge.

The National Federation of Independent Business said its monthly sentiment gauge fell 0.6 point to 104.7, a slightly larger decline than the 0.5-point dip forecast by economists surveyed by Econoday.

The post-election surge was the biggest in the four decades NFIB has been conducting its survey. The gauge rose again in January but then receded in February.

In March, some warning signs appeared. The uncertainty index rose to 93, its second-highest reading on record. “More small business owners are having a difficult time anticipating the factors that affect their businesses, especially government policy,” noted Bill Dunkelberg, the groups’ chief economist.
But pessimism was widespread in March. Of 10 survey components, only three notched an increase.


Trump just said small businesses were ‘unable to borrow from banks’ — but small-business owners disagree

In a meeting with some of the most powerful CEOs in the world on Tuesday, President Donald Trump argued that small businesses were struggling to find financing.

“So many people come to see me — I see them all the time — small businesses that are unable to borrow from banks,” Trump said. “They never had a problem five, six, seven, 10 years ago. They had great bankers, great relationships, now they can’t borrow.”

The president blamed the post-financial-crisis Dodd-Frank banking regulations, which were enacted in July 2010, and higher capital requirements for the largest financial institutions. Trump said he planned to “streamline” or “eliminate” Dodd-Frank to allow small businesses to borrow again.

Trump’s narrative, however, is the opposite of what small-business owners are saying.


How small businesses are dealing with health care limbo

Republicans have called it quits for now on any plans to do away with Obamacare.

But while it may remain the law of the land, President Trump and GOP leaders in Congress don’t want it to stay that way.

That’s a lot of uncertainty for small business owners like Dr. Vicki Bralow and her husband Dr. Scott Bralow to handle. The couple is less than a month out from opening up their joint primary care office in Philadelphia. Until now, Vicki co-owned a practice downtown where she voluntarily offered her employees insurance.

“One year I’m paying $650 for a family policy and then the following year I’m paying $1,150 a month for a policy,” she said. “That’s a really, really big deal.”

Vicki’s old business is one of nearly 2 million nationwide that employs three to nine workers, by far the group of companies most vulnerable to Obamacare premium spikes.