Business Insider August 17, 2021 Self-employed people are 4 times wealthier than workers, on average Juliana Kaplan Self-employed Americans have a far larger median net worth than their regular working peers. Self-employment is one way to achieve economic mobility, especially as wages decline for workers. But who has access to that economic mobility is still…
To me, this continued decline in the number of small business awardees is a crisis. But the government keeps receiving “A” grades for its small business contracting achievements, including in SBA’s most recent scorecard report! How can this be? Simply put: it’s the rules of the game. The SBA’s grades are based on a formula,…
The surge is a striking and unexpected turnaround after a 40-year decline in U.S. entrepreneurship. In 1980, 12 percent of employers were new businesses; by 2018, the most recent year for which data is available, that share had fallen to 8 percent…. It is too soon to declare that the slump is over. The Census…
Banking Dive August 13, 2021 “You shouldn’t need a big bank to get an SBA loan,” said Sen. John Hickenlooper, D-CO, who introduced the legislation alongside Sen. Tim Scott, R-SC, on Wednesday. Anna Hrushka Reporter Sens. Tim Scott, R-SC, and John Hickenlooper, D-CO, introduced legislation on Wednesday that would allow fintech lenders to participate in…
KESQ-TV August 14, 2021 By Chauncey Alcorn, CNN Business The heads of some of the largest minority business advocacy groups on Capitol Hill are praising key elements of the latest infrastructure bill, which is currently being debated in the House after passing with bipartisan support in the Senate on Tuesday. “This was a win for…
The Greater Richmond Small Business Ecosystem Assessment study emphasized the need for better access to capital as well as a need for increased awareness of how to create and run a successful small business. The study found $5 billion in unmet demand in capital for small businesses annually in the Richmond area, with disproportionately low…
The Hill July 21, 2021 Senate legislation will help protect small businesses from predatory lenders By Sen. Sherrod Brown (D-Ohio), opinion contributor Sudden closures, supply chain issues, agonizing decisions about layoffs and worker safety — we all know how hard this pandemic has hit small businesses in Ohio and across the country.…
(E)conomic strategies that simply ignore microbusinesses risk ignoring entrepreneurs that access business ownership outside high-tech sectors or advanced manufacturing… Brookings July 14, 2021 Pamela D. Lewis In 2008, Adrienne Bennett—the nation’s first licensed Black female master plumber and plumbing contractor—launched a Detroit-based plumbing business, Benkari. Benkari was successful until business eventually plateaued. Bennett knew she…
One-quarter of Americans thought about starting a business during Covid-19, but the lack of financing was the big barrier for would-be entrepreneurs, according to the survey. The Business Journals June 232, 2021 One quarter of Americans wanted to start a business during Covid. Here’s what stopped them. By Andy Medici – Senior Reporter, The Business…
The bill is designed to help dismantle “historic systemic barriers and (invest) in our economy and our people and future generations as it relates to accessible capital for all communities of color and underserved businesses.” Portland Business Journal June 25, 2021 The Oregon Legislature this week passed a bill that would expand access to capital…