House lawmakers could begin debate as early as Thursday on a bill that would eliminate capital-gains taxes on many small business investments and create a $30-billion small business loan fund.
Proposed House bill would spur small business formation
Small business exception will stay in financial reform bill
Massachusetts Representative Barney Frank – the chair of the House Financial Services Committee – says that he expects a rule exempting small and medium businesses from costly audits to survive negotiations between the House and Senate. The rule was mandated in the Sarbanes-Oxley Act.
Bank of America pledges to increase small business spending
Bank of America says it will increase the amount it spends on small, medium-sized and diverse businesses, and pledges to purchase $10 billion in products and services from them over the next five years.
Senator encourages business formation for veterans
New York Senator Kristen Gillibrand is speaking out in support of the Veterans Employment Act of 2010, which would help veterans start a business and get jobs after leaving the service.
Employment Index shows small businesses steadily creating jobs
According to the Small Business Administration, small businesses have created 64 percent of net new jobs in the past 15 years. Now, the latest report from Intuit’s Small Business Employment Index reveals that SMBs are continuing to keep the economy on track through making hires.
Economists push for more federal aid for small businesses
Recently, the Obama administration supported legislation that would bring nearly $30 billion worth of funds to community banks to increase small business lending, but some officials believe more needs to be done to boost small business formation and – hopefully – hiring rates.
Investment firm Popular wins shareholders’ approval for amendments to articles of incorporation
Investment firm Popular recently announced that shareholders approved a proposal to amend its Restated Articles of Incorporation. The amendment will enable the company to increase the shares of common stock, which will slightly reduce the value of each shareholder’s ownership of the company.
Ohio small business lending may soon be on the rise
The U.S. Bureau of Labor Statistics says sustained business formation is necessary to maintain economic recovery. In some areas of the country, new companies and new jobs are needed more immediately. For instance, the BLS reports that Ohio currently has an unemployment rate of 11.5 percent.