Latest Small business News
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...
Social media outages hurt small businesses -- so it's important to have a backup plan
NEW YORK (AP) — To businesses that rely on social media platforms for advertising, client communication or direct sales, Tuesday's Meta platforms outage was more than a communal inconvenience. Experts say that whenever there's an outage — be it social media or other...
New York sues cash-advance operation for issuing fraudulent loans with rates as high as 820%
ALBANY, N.Y. (AP) — A New York-based cash-advance operation exploited struggling small businesses across the country by issuing fraudulent, “predatory” loans at interest rates as high as 820%, New York Attorney General Letitia James alleged in a new lawsuit. James filed the...
The Secure Act 2.0 offers options for small businesses who want to offer retirement plans
NEW YORK (AP) — Many small businesses don’t offer a retirement plan to employees, since it can be quite costly and complicated. But the Secure Act 2.0 passed by Congress in late 2022 and being slowly rolled out is designed to make it easier for small businesses to offer...
