Tag Archives: Small business

Access to credit remains a challenge for small business

Bloomberg News: The Federal Reserve Bank of New York said tight credit restrained the growth plans of many small businesses in 2012, citing a survey of lending in its district conducted in March and April.

Nearly half (49 percent) of firms polled cited access to capital as a barrier to growth, but only a third of firms actually report applying for credit in the last year. While the concern was mostly (66 percent) among those firms operating at a loss, 36 percent of profitable firms also reported difficulty getting the credit they needed to expand their businesses.

Fed New York Survey
Click image to view more charts

 

Business Council member wins New York’s small business person of the year

Giovanni LogoThe U.S. Small Business Administration awarded Louis DeMent, CEO of Giovanni Food, Co, was the New York state winner of the 2013 Small Business Person of the Year award. Congratulations, Louis. Giovanni Food has been a member of The Business Council since 1999. Giovanni is also a Made in New York company with their own page on www.MADEinNY.org. 

If you are a member of The Business Council, and would like to join the Made in New York Movement, click here to fill out a simple online form. It’s free! Made in New York logo

The U.S. Small Business Administration and the New York Business Development Corp. also awarded eight Central New York small businesses for their longevity, innovation, sales growth and increased employment, wrote Rick Moriarty of Syracuse.com (Post-Standard).

Click here to see the honorees.

 

 

SBA women-owned small business workshop

The Small Business Administration (SBA) will hold a workshop on the Women-owned Small Business (WOSB) Federal Contract Program on May 22 in Rochester, NY.  The free session will be held at the Ebenezer Watts Conference Center and materials will be presented by Pamela Andolina, SBA business development specialist and Anna Vulaj Fitzsimmons, Monroe County Finger Lakes PTAC business development manager.  Register online.  For more information, contact Anna Vulaj Fitzsimmons at (585) 753-2017 or avulaj@monroecounty.gov.

M&T doubles SBA loan dollars

According to the U.S. Small Business Administration, M & T Bank approved 126 new SBA flagship 7(a) loans totaling $25.8 million between October 1, 2012 and March 31. That’s quite a change from a year ago when, over the same period, it approved 94 loans totaling $10.3 million.

Allison Kline reporting the story for Buffalo Business First. Click here to read more.

 

 

Small Business Day promotes six-point agenda

Small business owners and business leaders from across the state, including The Business Council, assembled on Wednesday to participate in Small Business Day. The effort, led by the National Federation of Independent Businesses of New York, focused on a six-point legislative agenda of the challenges faced by the state’s 2 million small businesses.

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Liquefied Natural Gas Storage and Transportation Exemption

A4202 (Camara)/S119A (Maziarz)

 Out-of-Network Health Care Coverage

A5216 (Gottfried)

 Healthcare Quality Cost Containment Commission to review healthcare mandates

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Scaffold Law Reform

A3104 (Morelle)/S111 (Gallivan)

 Wage Theft Prevention Act

A2482 (Gabryszak)/S2313 (DeFrancisco)

 Unfunded Mandate Reform Act

A3106 (Morelle) / S4094 (O’Brien)

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“Small Business Day is an important annual event, when we remind legislators that small business have enormous potential for growth, but needs relief from the layers of compliance burdens imposed by New York State,” said Business Council president Heather Briccetti. “We are asking for legislative action on a reform package that will reduce costs, provide new opportunities for investment and job creation, and allow small business owners to focus on their core business objectives.”

Take Action Logo

We urge you to take action on these issues by sending a letter to your legislators:

 

Fix the Wage Theft Prevention Act
Create Jobs, Strengthen the Economy. Say Yes to Natural Gas Development
Fix New York’s Job Killing Scaffold Law
New Yorker’s Should Know What Health Care Costs, Before They Buy

WSJ: Dreams of Binghamton

Joseph De Avila of The Wall Street Journal wrote a very interesting story about the effect a university, in this case Binghamton University, and small business can have on a local economy. This issue has come to light because of Broome County’s large dip in population – a loss of 2,540 from 2011 t0 2012, the largest drop of any county in New York.

Click here to read more. [subscription-based]

The Business Council created the Made in New York website to highlight the many products made in New York. We encourage all Business Council members to join the Made in New York movement. By joining, member companies get a page on the site, complete with company information, links back to company homepages, images, videos, product information and more. The economy will strengthen and jobs will be created when more consumers buy made in New York products.

Click here to learn more.

Made in New York logo

$19 million in grants to be made to SBA resource partners to support Hurricane Sandy small business recovery

The Small Business Administration recently announced that small businesses rebuilding in the aftermath of Hurricane Sandy will get both immediate and long-term help laying a foundation for economic recovery and resiliency thanks to expanded services funded by a $19 million emergency appropriation.

Small businesses can take advantage of free expanded counseling, training and technical assistance from the U.S. Small Business Administration’s resource partners—the Small Business Development Centers (SBDCs), SCORE, and Women’s Business Centers (WBCs).

New York has been allocated $2,394,000 in SBDC and WBC funding awards.

SBA makes low-interest, taxpayer-backed disaster loans to homeowners, renters, businesses and non-profit organizations of all sizes.  More information about the disaster assistance program is available at www.sba.gov/disaster.

As of April 11, the SBA has approved disaster loans totaling $1.8 billion to individuals, and $279 million to businesses and non-profit organizations recovering from Hurricane Sandy.

Read the full press release here.

 

MBA students inject energy into exporting to Canada

The Buffalo News outlines how MBA students at the University at Buffalo helped small businesses overcome barriers and challenges to exporting their products to Canada. Interested companies were paired with MBA students  who conducted research for the company and helped them develop a plan for exporting their product.

Read more about this innovative program that helped small businesses while providing students with real world experience on The Buffalo News website.