Archive: June 22, 2008 - June 28, 2008

Booming Hispanic Market Opens Business Opportunities

The rapidly growing Hispanic population will have a profound effect on the landscape of the small business community, said marketing expert Chiqui Cartagena, who also noted that Latino women now make up the fastest growing segment of entrepreneurs in the United States. Latinos accounted for about 15 percent of the...

By Sharon McLoone | June 27, 2008; 12:19 PM ET | Comments (6)

D.C. Group Launches 'Buy Local' Campaign

Local First DC is hosting a campaign throughout July encouraging metro area residents to support local, independent businesses. Local First DC is a project of the Latino Economic Development Corp. based in the Adams Morgan neighborhood. It has declared July "Independents Month" in the hopes of inspiring residents to patronize...

By Sharon McLoone | June 26, 2008; 1:15 PM ET | Comments (0)

Small, Local Businesses Look to Video Ads

Small and medium-sized businesses will spend 11.6 percent of their online advertising budgets on video ads by 2012, according to new data from the Kelsey Group. The consultancy predicts that revenue from Web video ads will grow to $1.5 billion in 2012 from $10.9 million in 2007 as more local...

By Sharon McLoone | June 26, 2008; 9:00 AM ET | Comments (0)

Commerce Official Nominated to Head SBA

UPDATE: President Bush today nominated Santanu "Sandy" Baruah, the assistant secretary of commerce for economic development, to head the Small Business Administration. Sen. John Kerry (D-Mass.), who chairs the Small Business and Entrepreneurship Committee, said he plans to review Baruah's record carefully to ensure that he's the right person for...

By Sharon McLoone | June 25, 2008; 4:46 PM ET | Comments (0)

The SBA: In a Jam or Shaking Like Jelly?

While doing some research on the Small Business Administration's budget for next year, I ran across a transcript for a House Appropriations subcommittee hearing held in May on the SBA's funding for fiscal 2009. As I perused the transcript, I wondered what twilight zone I had stumbled into. While lawmakers...

By Sharon McLoone | June 25, 2008; 12:15 PM ET | Comments (0)

Learning to Reap What You Sew

It all started with coffins. A co-worker in the theatrical lighting business asked Megan Duckett if she could sew. Knott's Berry Farm theme park was searching for someone to reupholster coffins for a Halloween-themed ride. Duckett didn't know how to sew, but summoned up some entrepreneurial moxie and took the...

By Sharon McLoone | June 24, 2008; 2:49 PM ET | Comments (0)

IRS Increases 2008 Standard Mileage Rates

The IRS announced Monday that it has increased the standard mileage rate for the final six months of 2008 in recognition of rising gas prices. The rate will increase to 58.5 cents per mile for all business miles driven from July 1, 2008 through Dec. 31, 2008. This is an...

By Sharon McLoone | June 24, 2008; 10:16 AM ET | Comments (5)

Small, Older Firms Are Biggest Economic Drivers

Businesses that are big drivers of economic growth are generally small and about 25 years old, according to a new study (pdf) that contradicts prior research that found small, very young firms were responsible for the vast majority of job replacements. The study, conducted by the Corporate Research Board for...

By Sharon McLoone | June 23, 2008; 3:39 PM ET | Comments (0)

Is Wal-Mart a Boon or a Bust for Small Firms?

The scuttlebutt is that when Wal-Mart moves into a neighborhood, bye-bye local retailers. But a story in today's Washington Post reveals that smaller firms say it's business as usual since Wal-Mart moved into their Landover Hills, Md., neighborhood a year ago. For example, a local pharmacist said he was braced...

By Sharon McLoone | June 23, 2008; 1:18 PM ET | Comments (0)

 

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