Small Business Round-up – Week of Feb 11th

This week’s small business news review found mixed reviews of the State of the Union address, alternative financing is building small businesses, ways to maximize your Twitter account, government cuts could lead to small business struggles, and a German banker who acts as an ATM.

• State of the Union Small Business Impacts – President Obama proposed several initiatives that could affect small businesses. According to this source, the reviews have been mixed.
• Startups Look to Alternative Financing Options – Crowdfunding sites like Kickstarter and Indiegogo have provided capital contributions to entrepreneurs who cannot find money from traditional lenders. And there are other options available today that weren’t around five years ago.
• Small Businesses Must Use Twitter Wisely – Businesses are using Twitter more than ever. But, to get the most out of the social networking site, small business owners should follow some simple rules.
• Federal Spending Cuts Could Hurt Small Business - US federal spending cuts – known as sequestering – are potentially about to happen. On March 1, many small businesses could feel the pinch as drastic cuts could mean a loss of contracts, fewer SBA loans, and deteriorating consumer confidence.
• Former Bank Exec Brings Lending to the Streets - A German former bank executive decided to take lending to the streets of his small town. His cooperative bank lends money to villagers for day-to-day needs with only one staffer. Could this work in the US?