October 31, 2014

Small Business News: Big News For Small Biz Owners

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Big news for small business owners starts with repeal of a particularly onerous part of a controversial new U.S. health care law. Check out the links with some of the latest headlines including news from the small business blogosphere and please comment on the issues you’re most concerned about below. Let’s get started:

Policy

Senate repeals widely unpopular business tax reporting requirement. Bi-partisan support for the repeal of the so-called extended 1099 form reporting requirement led to passage with an 87-12 vote. The requirement would have put an extra burden on all businesses to file additional paperwork for any payment to vendors of $600 or more, but would have hit small businesses disproportionately harder because of the time required to keep additional tax records. WSJ

Critics of the health care law promise more revisions. While many in both parties hailed repeal of the 1099 reporting requirement today as a step in the right direction, opponents of the entire health care package which worries many business advocates say they aren’t finished yet. Small businesses in particular who may be required to offer health care or pay a penalty argue the health care law passed last year will inevitably raise the cost of doing business. The Washington Times

What’s business’s beef? In this brief video posted by the U.S. Chamber of Commerce on the organization’s Facebook page, Darlene Miller outlines some of the greatest concerns business leaders including small business owners have over the recently passed health care law that many fear will increase the costs for businesses large and small. U.S. Chamber of Commerce

E-Commerce

Amazon battle may hurt online small business. State’s challenging online e-commerce giant Amazon on the issue of sales tax may be hurting local online businesses too. Amazon is threatening to discontinue affiliate relationships with some businesses who help the company sell items online or, in some cases, already has. This means that a battle with Amazon over sales tax is indirectly affecting these online entrepreneurs as well. The Street

Small business on both sides of the Amazon fight. On the other hand, small businesses are lining up on the other side of the Amazon sales tax debate too. Local retailers in Massachusetts, for example, are behind a push to end the days of online shopping without sales tax. Small local retailers are fighting to make sure that not only Amazon but also online shopping sites like Overstock and Zappos will be collecting sales tax in the future. Boston.com

Research

Where have small business owners gone? That’s what Scott Shane, Professor of Entrepreneurial Studies at Case Western Reserve University, is wondering as he contemplates the data. Statistics show a 1.1 million drop in the number of self-employed Americans compared to when the Great Recession began. This is a critical part of the economy. How will we replace them? Small Business Trends

Tech

More on changes to the Facebook profile, business pages. Here’s a full detailed look at the changes taking place over at Facebook particularly as related to business use of the social media platform. Remember that the main thing affecting your business is that Facebook Terms of Service forbid business accounts to be set up on profile sites. Fortunately, the folks at Facebook have created a new tool to make moving your account easy. Read more.  Inside Facebook

PR News

What small businesses can learn from the latest social media mess. Consider Bill Parsons, founder and CEO of Web hosting company GoDaddy, who recently posted a video link of his participation in a Zimbabwe elephant shoot on his blog infuriating some customers. Social media is a two edged sword. Know how your audience will react to your post before you publish it or suffer the consequences. Reuters

Exports

Where are your new customers? Increasingly, small businesses in the U.S. must look to foreign markets when contemplating growth in their revenue for the future. With more than 80 percent of economic growth projected to occur outside of the United States over the next decade, it makes sense for small businesses here in the U.S. to try to sell into that growing market. How about you? USA Today

Other Voices

How will a government shut down affect your small business? Depending on your market and customers there could be little or no impact at all if a contemplated shutdown begins this weekend over an ongoing budget dispute in Washington. But as small business owner Tara M. Clapper explains, the overall impact for some businesses could be greater than we at first realize. Yahoo! News

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