Borrowing by small U.S. businesses jumped in November to the highest level in more than two years, PayNet reported on Monday, as entrepreneurs invested in their businesses and did a better job of paying existing debts. Get the full story »
Inside these posts: Small business lending
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Small business loans less risky than junk bonds?
In the world of high-yield securities, small business loans are safer than junk bonds, and are expected to get even less risky over the next two years, according to PayNet, which provides risk-management tools to the commercial lending industry. Get the full story »
Daley’s budget calls for scaling back the head tax
Chicago employers would see modest tax relief under Mayor Richard Daley’s proposed 2011 budget plan, which calls for scaling back of the payroll head tax.
Employers now are required to pay $4 a month for every employee who earns at least $900 per quarter. Under Daley’s proposal, the tax would apply only for employees earning at least $4,300 per quarter, the amount a full-time minimum-wage worker would earn. Get the full story »
Oct. 11, 2010 at 4:34 p.m.
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Filed under: Economy, Jobs/employment, Real estate, Small business Nobel winner Mortensen chides ‘dysfunctional’ lenders
A U.S. labor economist awarded the Nobel Prize in economics on Monday said a “dysfunctional” lending environment has made it hard for small service businesses — the source of most jobs — to finance hiring.
Northwestern University professor Dale Mortensen, whose work focused on labor market inefficiencies that make it difficult for workers to match up to job openings, said employers have fewer jobs to offer and government can do only so much about it.
“To bring unemployment down we need to create service jobs,” Mortensen said, speaking to reporters from Aarhus University in Denmark, where he is a visiting faculty member. Get the full story »
Scaled-back small business aid bill sent to Obama
The Democratic-controlled Congress on Thursday sent President Barack Obama a long-delayed bill to help struggling small businesses with easier credit and other incentives to expand and hire new workers.
The $40 billion-plus bill is the last vestige of the heralded jobs agenda that Obama and Democrats promoted this year. They ended up delivering only a fraction of that after emboldened Senate Republicans blocked most of the agenda with filibusters. Get the full story »
