Latest Business News

The Federal Reserve Chairman, Ben S. Bernanke, expressed his solidarity for the Nation’s small businesses and urged banks and financial regulators to grant them loans for their success. Small businesses are responsible for 60% of job creation and employ almost half of all Americans. But the lending to small businesses show a decline in the last two years. Bernanke expressed his concerns and acknowledged the uncertainty in a daylong forum at the Fed’s headquarters.

Federal data reveals that lending fell below $670 billion in this year’s first quarter, a huge collapse, compared to $710 billion granted in second quarter of 2008.

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Obama administration puts focus on helping entrepreneurs achieve success with new apointees.

In an effort to help small business owners, the Obama administration has named members of a special council tasked with spurring innovation.

Commerce Secretary Gary Locke recently introduced members of the National Advisory Council on Innovation and Entrepreneurship, in an effort to move forward President Obama’s larger plan to help those interested in starting their own businesses turn ideas into real business success.

Locke broke the news for entrepreneurs at the U.S.

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At a Federal Reserve conference in Washington this week, Fed Chairman Ben Bernanke called upon banks to increase their lending to small businesses.

“Making credit accessible to sound small businesses is crucial to our economic recovery,” said Bernanke, a vocal proponent of loosening credit for smaller companies.

While many big firms are flush with cash and are expected to report strong profits during earnings season, smaller businesses have struggled to secure the loans they need to expand and hire.

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Microsoft introduces new, easy to use website creation software

Microsoft recently made small business technology news by announcing that it was testing a website development tool-set in order to help design websites.

The WebMatrix, which is now available for download on Microsoft’s website, will be able to create sites in a fast and easily maintainable way, according to Small Business Computing.

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This year’s federal income tax rate is highly favorable to small businesses. If your company pays you a dividend in 2010, the maximum federal income tax rate will be only 15%. Likewise, 2010 corporate payouts or stock sales that generate long-term capital gains will be subject to a maximum 15% federal tax rate.

Those rates are set to expire after this year. Wall Street Journal columnist Bill Bischoff suggests three ways to take advantage of these low tax rates.

• Take Low-Taxed Dividends This Year
  If your profitable C corporation has a healthy amount of earnings and profits (or E&P), shareholders should consider taking dividends this year, instead of risking a bigger (though deferred) tax hit down the road.

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