As we bring you this news, we want to remind you that we always strive to bring you news of importance. Although news for today is a bit grim, they are important news and they have information that as a small business owner they should be important to you. As a small business owner the challenges we faced daily are too many to count, and we wear too many hats every single day of the year while juggling the many challenges we have, but at the same time those challenges are the ones that make us grow.
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Small business confidence slips in June – Reuters
Business RecorderSmall business confidence slips in JuneReutersThe National Federation of Independent Business said on Tuesday its Small Business Optimism Index decreased 0.9 point to 93.5 last month, changing course from two straight months of growth.
Six of the index’s 10 components fell and two were unchanged. Only job creation plans and the six-month outlook advanced.
This mirrors economists’ predictions that the economy will pick up momentum in the second half of this year after a lackluster start.
Rising Cost Of Healthcare Is Hurting Small Business Growth
As the CEO of Lendio.com, healthcare is a vitally important topic to our employees, our customers (who are also small business owners), my family, and me. During the month of June, we decided to take a fresh look at the benefits that we are offering and the culture that we are creating for our employees. As a result, healthcare has been top of mind.
Please allow me to share three quick stories that have occurred over the past month as to provide a little background.
Small Business Administration Cheats Small Businesses Again
On July 2, the Small Business Administration (SBA) released their latest fraudulent, fabricated and false claim that the federal government has come very close to achieving the 23 percent small business contracting goal require by federal law.
As usual, to eliminate media coverage, the SBA quietly released their claim that the government awarded $89.9 billion or 22.25 percent of all federal contracts to small businesses in FY 2012.
Here are the facts. Federal law requires a minimum of 23 percent of the total value of all federal contracts be awarded to small businesses. According to the Federal Procurement Data System (FPDS), the actual federal acquisition budget for FY 2012 is around $1.1 trillion. Legitimate small businesses should have received at least $253 billion in contracts.
