Archive: November 9, 2008 - November 15, 2008
Immigrant Business Owners Make Big Impact on U.S. Economy
Immigrant business owners are making a significant contribution to the U.S. economy, according to a new study (pdf) from the Small Business Administration's Office of Advocacy. Immigrant business owners constitute 12 percent of the total U.S. workforce and 12.5 percent of the total population of U.S. business owners, according to...
By Sharon McLoone | November 14, 2008; 1:55 PM ET | Comments (0)
Chevy Chase Start-up Scores $25K from Facebook
Evan Steinberg graduated from the University of Michigan to the School of Hard Knocks, as many entrepreneurs often call their on-the-job training. Luckily Steinberg is all about the education. He grew up in Chevy Chase, Md., and attended Sidwell Friends, a private school in Washington, D.C., where, he said, "like...
By Sharon McLoone | November 12, 2008; 2:34 PM ET | Comments (0)
Small Firms Pessimistic About State of the Economy
Small businesses are feeling kind of gloomy, according to a trade group's index of small business optimism. The October index, compiled by the National Federation of Independent Business, fell 5.4 points to 87.5, the third lowest reading in the survey's 35-year history. "The decline in the index is a clear...
By Sharon McLoone | November 11, 2008; 2:07 PM ET | Comments (0)
SBA Offers Changes to Flagship Loan Program
The Small Business Administration has proposed two changes to its most basic and most used loan program designed to increase capital to small firms. The agency plans to allow banks offering the 7(a) loans to use a rate other than the prime rate when making loans. It also said loan...
By Sharon McLoone | November 11, 2008; 10:31 AM ET | Comments (0)
