Latest Small business News
Ten federal agencies receive 'A+' in annual scorecard measuring small business contracting goals
NEW YORK (AP) — Federal grants can be a huge boost for small businesses. And some federal agencies do better at giving grants to small businesses than others. The Small Business Administration released its annual scorecard measuring how well federal agencies meet their small...
Deadline for businesses to apply for their share of massive credit card company settlement looms
NEW YORK (AP) — A deadline is looming for millions of businesses who may be entitled to a payout in a $5.5 billion antitrust settlement with Visa and Mastercard. The settlement stems from a 2005 lawsuit that alleged merchants paid excessive fees to accept Visa and Mastercard credit...
Fraudsters target small businesses with scams. Here are some to watch out for
NEW YORK (AP) — It's never fun to be scammed, but if you're a small business owner then falling for a scam can have long-lasting effects on a business, damaging client relationships and profit. Plenty of types of scams exist, but a few affect small businesses the most. ...
Missouri lawmakers back big expansion of low-interest loans amid growing demand for state aid
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs. The...
Business boom: Record numbers of people are starting up new small businesses
NEW YORK (AP) — Record numbers of people are starting new businesses, and more and more of them are women and minorities, according to a new study. New business applications jumped in 2020 as the pandemic started, and have continued to be filed at a record pace. More than 5 million...
Momofuku backs down from defending its 'chile crunch' trademark after outcry by small businesses
NEW YORK (AP) — Momofuku, a food and restaurant brand started by food mogul David Chang, said it won't defend its trademark on the name “chile crunch” after it sparked an outcry by sending cease-and-desist letters to other businesses using the term. Momofuku started selling its...
IRS claws back money given to businesses under fraud-ridden COVID-era tax credit program
NEW YORK (AP) — The IRS says it's making progress with initiatives to claw back money improperly distributed under the Employee Retention Credit. The ERC was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its...
Tax changes small business owners should be aware of as the tax deadline looms
As Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year. April 15 is still the annual tax deadline for many small businesses although, unlike individuals, small businesses can have varying deadlines depending on the type...
Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants
NEW YORK (AP) — Visa and Mastercard announced a major settlement with U.S. merchants on Tuesday, potentially ending nearly two decades of litigation over the fees charged every time a credit or debit card is used in a store or restaurant. The deal would lower and cap the fees...
Inflation remains a headache for small business owners
NEW YORK (AP) — Inflation remains small businesses' chief worry, according to a new survey showing their optimism fell in February. The National Federation of Independent Businesses' Optimism Index fell to 89.4 in February. It's been below the 50-year average of 98 for 26 straight...
