Maskot | Digitalvision | Getty Images The United States has experienced a small business boom in recent years, and people of color are a large part of that success, making progress on historical underrepresentation of Black and brown entrepreneurs in America. From 2010 to 2020, the minority population grew from 36.3% to 42.4%, but the … Read more
Subchapter V bankruptcy filings, which most small businesses now use, are running above last year’s level, according to the American Bankruptcy Institute. Chapter 11 of the U.S. Bankruptcy Code was revised in 2019 to make it simpler and more cost-effective for small companies to reorganize debts. But bankruptcy, through Subchapter V or otherwise, may not … Read more
Hawaii’s recent wildfires and Hurricane Idalia underscore the costly effects of natural disasters on small businesses. Many funding options exist for business owners hit by a disaster, from SBA EIDL loans to FEMA grants, but it’s imperative to understand the options ahead of time. Business owners tend to have at most a month or two … Read more
Startups Hunker Down in Europe as Funding Shrivels The Wall Street Journal Source link
The Federal Reserve raised its benchmark interest rate by 50 basis points on Wednesday, which sends small business loans to the double-digits percentage range for the first time in decades. Small business loans are based on the Prime Rate, which will now be 7.5%, the highest since 2007 and pushing most SBA loans to a … Read more
Opinions expressed by Entrepreneur contributors are their own. It is well-known that women- and minority-owned businesses are terribly far behind in accessing capital to fund their startups and small businesses. According to the American Express State of Women-Owned Businesses, women own 49 percent of the businesses in the U.S., but account for less than 10 … Read more