Small business startup is the order of the day. With many countries realizing that new businesses are the key to economic recovery and growth, it’s easy to understand. So what stories have you heard? What new venture are you planning. Leave a comment. We’d like to know. Meanwhile, be inspired and enjoy our startup celebration roundup.
Finance
Does your small business develop smartphone apps? If so, there may be big funding in store as auto manufacturer BMW has announced plans to invest millions in smartphone app development. Why? The car maker has set its sights on an urban market for efficient transportation vehicles and hopes the apps will be part of that package.WSJ
Energy
Clean-energy business startups are being encouraged. Recently the U.S. Department of Energy announced plans to dramatically reduce the cost of innovative energy solutions for startup. Read more about the recent announcement and what it could mean for the next clean-energy business startups. MIT News
Programs
A look at the startup situation in the UK. A columnist looks at the realities between hopefulness and the fears that come with starting a small business in the StartUp Program. The conclusions? Somewhere between the hype and the fear there has been at least one significant announcement and news of global success. Overall, the future is bright. RealBusiness
Want to learn more about startups where you live? Your local SCORE may hold regular workshops to teach prospective small business owners more about the startup process. You can also tap these local organizations for networking, resources and mentoring, so research more about the programs in your community. Quad-Cities Online
Policy
Even communist-run Cuba is getting into the act. The island nation has turned to private enterprise to stave off its economic ills. Financing credits for entrepreneurs, the opening of government contracts to the private sector, the granting of 170,000 new licenses for entrepreneurs plus leasing of government land to private farmers. WSJ
Startup America! Programs to stir and empower entrepreneurial activity abroad followed a “string of initiatives” launched by the White House to encourage economic recovery through entrepreneurial startups. Here are the basics in case you missed the announcement. WSJ
Opinion
Why communities should focus on small business for economic development. Many communities focus time and resources on attracting large businesses from out of the area that offer a big boost in employment. But in this op ed, we look at the argument that a better policy might be to focus on local entrepreneurs who are invested in the community to rebuild the local economy. JacksonSun.com.
Success stories
What young entrepreneurs need to know about small business startups. Sisters Sarah and Hannah Rinn learned a lot when they took ownership of the Blossom Shop, a flower shop in Woodstock, Ill., while still teenagers. Experts say starting young as entrepreneurs can be a huge benefit since young people have fewer financial obligations when in the lean startup years. Northwest Herald
Bookshelf
A book about building your business. Ivana Taylor reviews the book by Mark Thompson and Brian Tracy entitled Now, Build a Great Business. It’s a great no-nonsense book that goes into great detail about the steps to run or start a business, Ivana says. Small Business Trends
Taxes
When starting a business, watch for tax credits to benefit you. Here’s an overview of tax credits on the federal and state level that can be used to benefit a business startup. Since the tax credits were given out to help fuel economic development and create jobs, this is exactly what they were meant for. Make sure you understand the tax credit system and how your business may qualify. SmartBusiness
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Starting up a new small business can work very well for a lot of people but unfortunately expectations are often too high.
The article “Success Stories” makes the very important point that to be successful your new business needs to be about something that you love. I would however like to add that it also needs to be something that is in reasonably high demand. I have made that mistake myself with my own first business and I have seen it happen to many other people over the years.
As a small business mentor I now tend to stress the need for market research as the most important point to look at before deciding on a new small business startup.
Riya Sam
Hi,
Starting small businesses have gained popularity in the recent past and it’s impact on the economy cannot be under stated as it has been observed through various statistics that these SMB’s contribute tremendously towards the economy. The review of the book ‘Now, build a great business’ was great and it would be interesting to get a few tips on how to start a new business. Thanks for sharing!
Riya Sam