July’s Small Business Monthly News
Here's a break down of the top news stories impacting small businesses.
Presidential Twitter Town Hall
A big Internet company that was once a small startup, Twitter, got a big guest in July: President Obama. The president took to the micro blogging site for a national town hall meeting on July 6. One person tweeted asking the president "Small biz creates jobs. What incentives are you willing to support to improve small biz growth?"
Obama responded highlighting tax breaks that have helped small companies, but also said entrepreneurs tell him their biggest problem remains getting loans, especially from community banks, which are still struggling to recover from the financial crisis.
More Health Reform Guidelines
The Department of Health and Human Services released a framework of regulations to help states begin building their affordable Health Insurance Exchanges. These exchanges, which were part of the health-care reform, are supposed to be the place where small businesses and individuals can buy affordable health insurance. Groups like the Small Business and Entrepreneurship Council are wary, saying the exchanges pave the way for greater rules and regulations on small businesses.
New Investment Program
Michigan small businesses will be the first in the country eligible to tap a new public-private loan program called Startup America! aimed at encouraging investments in clean energy or economically-distressed areas.
The U.S. Small Business Administration announced the $130 million investment program last week. The private and public funds will be available over five years and are part of a broader effort to make $1 billion dollars available nationally.