The Federal Reserve shows no signs of slowing down its interest-rate hikes, with most economists expecting the Fed to reveal another rate increase in mid-December. That could spell trouble not just for would-be homebuyers but for small businesses looking to expand. "The most important piece of economic information that firms use when they're constructing investment plans is the cost of investment -- how much does investing cost now, and how much will it cost later," Gary Richardson, professor of economics at the University of California at Irvine, told CBS News recently. Unpredictable public policies is just one reason it pays to be careful when taking on debt for a small business. Loading up on debt is the biggest mistake most small businesses make, Frances Newton Stacy, director of strategy for Optimal Capital, told CBSN. It's a particularly easy mistake to make in boom times, when consumer spending is at a peak. "When businesses are growing and there's a lot of 'free money' in … [Read more...] about Why small businesses shouldn’t take on too much debt
Why small businesses are important
Omar Abdel Baqui Detroit Free Press Published 9:46 PM EST Nov 24, 2018 Gary Baglio opened his novelty gift shop, Five15, in downtown Royal Oak 11 years ago — just before the economy "went down the toilet," he said. Like many small business owners post-recession, Baglio said he quickly realized retail sales weren't going to be enough to keep his small business afloat, and he needed to think of something else to generate income. Inspired by an episode of "Sex and the City," Baglio added a whole new attraction to Five15 — drag queen bingo. He eventually added a full liquor and coffee bar to the venue. "You have to think outside of the box and you have to bring something different to the table," Baglio said. "The internet and big chain stores make retail highly competitive." The big-store competition is one of the reasons for the creation of National Small Business Saturday, a national promotion to entice shoppers to spend their … [Read more...] about Shoppers hit ‘Main Street’ on Small Business Saturday
By Nguyen Le, Staff writer Published 12:00 am CST, Saturday, November 24, 2018 The event created to drive customers and sales toward local businesses debuted in 2010. The event created to drive customers and sales toward local businesses debuted in 2010. Photo: Contributed Photo: Contributed Image 1 of / 4 Caption Close Image 1 of 4 The event created to drive customers and sales toward local businesses debuted in 2010. The event created to drive customers and sales toward local businesses debuted in 2010. Photo: Contributed Small businesses deserve more support, Lake Houston Chamber CEO says 1 / 4 Back to Gallery ‘Tis the season to also consider small businesses. Comparing to … [Read more...] about Small businesses deserve more support, Lake Houston Chamber CEO says
Hordes of shoppers will be lining up to score some of the biggest deals this year on Black Friday. Hey, there’s no shame in that game. Especially if you can pick up a $50 flat screen and be home before the sun rises. But once the dust settles and the store clerks at Target begin to clear the wreckage from their ransacked aisles, Small Business Saturday will be a nice reprieve for those looking to give back to the small independently owned stores that give their neighborhoods their personalities. Keep it in the neighborhood with Small Business Saturday Rough Trade will be hosting a special Record Store Day Event in partnership with Small Business Saturday. Photo: Getty Images Created nine years ago by American Express as a way to revitalize small businesses after the financial crisis, Small Business Saturday has now become a way for people to make sure that the money they spend on gifts for the holidays can stay within their communities and not go … [Read more...] about How Small Business Saturday is bringing our communities together
There was something very odd about sitting in the public hearing for the Small Business Jobs Survival Act (SBJSA) on Oct. 22, listening to all the testimonies and discussions about the implications of the bill. One can only listen to city officials repeat that they “fully share the goals” of SBJSA but raise concerns about its “unintended consequences” so many times before going numb. There were many bizarre things about the hearing, beginning with the numerous gentlemen in blue hats that began crowding the front steps of City Hall just before the hearing was about to start. “VOTE NO TO RENT CONTROL,” the caps read, sitting atop the bald heads of men in suits, or dressed in casual clothes but important shoes. “Would you like one?” James Wacht, a commercial real estate developer, asked me, pointing to his cap. “I’m okay, thank you,” I replied. “I have a feeling we’re not on the same side,” he said. … [Read more...] about The Small Business Jobs Protection Act Received a Hearing, What Next?