Small Business Trends

So what do you think of the new small business bill passed recently in the U.S. Senate? Supporters are no doubt high-fiving each other and congratulating themselves on a job well done, while many in the small business community are not so sure freeing up more loans are truly the answer to the small business community’s woes. We’ve added some info from the bill to help you decide than went on to look at the thoughts of some people who really know how to start a business. Who would you rather believe in to save our economic future?

Policy

Senate approves small business bill. The new Small Business Jobs and Credit Act is hailed by supporters as the salvation of the small business community offering not only tax breaks or incentives for small businesses by an estimated $30 billion for small banks aimed at promoting more lending. Critics worry it is just another measure that will increase debt further aggravating existing problems with the economy. They argue that small businesses would be better served by lower debt and lower taxes for everyone encouraging greater consumer spending. The Street

Small business groups respond. The greatest enthusiasm for the proposed small business lending bill surprisingly seems to be among politicians who hope to portray themselves as proactive on the economy but not so much among small business advocacy groups who believe it is not nearly enough to create an economic climate more friendly to entrepreneurship and small business, the kind of climate that would stimulate the kind of economic boom necessary to draw us out of the existing recession. National Federation of Independent Business

Read the full bill here. Decide for yourself. Thankfully in the days of the Internet, reading legislation, both summaries and the full test, has never been easier or more convenient. The Small Business Jobs and Credit Act is headed for the U.S. House of the representatives and finally on to the President for signature. But will it really do small business any good or just further balloon the national debt further destroying consumer confidence and with it the economy and small business in general. The United States Senate Committee on Finance

Operations

Is your small business sustainable? C.K. Prahalad, author and professor of corporate strategy at the University of Michigan, believes sustainability, along with generosity and inspiration, are qualities that are a necessity for any business today especially with an additional four billion people on the planet poised to become micro consumers…or micro producers. But Prahalad argues that sustainability won’t come in the form of government regulation. Instead, he says, successful new businesses will do this for themselves as an innovation. 30 Second MBA

Team-building in a tough economic climate. Many businesses have experienced tough times including slouched sales especially in the current economy. Creating strong team interaction can be important in any business even when times are good. But when businesses are struggling, this team work can be crucial to their very survival. Here’s the best way to build them. National Federation of Independent Business

Marketing

Turning browsing into buying the Seth Godin way. How can you turn browsers into buyers? The truth is that a new generation of marketers is doing just that on the Web and they are doing so by how much they give. Ivan Walsh gives an overview of arguably one of the best known online marketers today, Seth Godin, and shows why another key to success can sometimes be to break all the rules. Bloggertone

Contest

The sweetest small business content on the Web. With the SugarTone Sweet Business Blogging Contest hosted by BizSugar and Bloggertone.com now behind us, don’t worry that all that great content will go to waste or become inaccessible. The organizers of the event are planning an e-book that will contain the best of the content including submissions and information on contributors. Stay tuned for more details coming soon. Small Business Trends

Sales

Online payment 101. Figuring out the basics of online business can be a challenge, especially if you’ve got to reinvent the wheel. Fortunately applications like PayPal make creating a method of payment online a breeze without creating a special ecommerce Website with all the costs and expertise that implies. See the basics in the link above. National Federation of Independent Business

Startup

Think you’ve got to wait to start your business? We think these stories of successful young entrepreneur startups will inspire you. Hopefully it will help us all realize the possibilities that come with a dream and the passion to “break the rules” and change the world. It doesn’t matter what age you are. The best time to start a business is now. Open Forum Innovation

Maximizing your chances for success. Here’s some depressing data. Despite the increase of small business startups the mortality rate of small businesses remains at a staggering 60 percent. Now before you get all depressed, Stefan Topfer has some suggestions that should increase your likelihood of success…or at least “make the fall less damaging should a business fail.” One of the most obvious suggestions is bootstrapping. Putting less money into your startup will give you less to loose should you not succeed but also it will make it easier to make your business profitable from the start. Check out more suggestions for your startup above. The Small Business Blog