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This week’s small business news review found small businesses seeking the right customer relationship management (CRM) product, one company’s lead generation strategy, positive vibes from small biz owners is slowing, small business loan funds went to repaying TARP, and the Federal SHOP program will be delayed.
- Small Biz Optimism Declines – According to the National Federation of Independent Business (NFIB), March showed a decline in the positive outlook of small business owners. Although job creation entered its fourth consecutive month of growth, six of ten survey categories decline or remained unchanged. Most notably, only 4% of owners surveyed indicated that now is a good time to expand facilities.
- Small Companies Look to CRM Technology – Today’s small businesses are looking for ways to better manage customer and prospect relationships. Technology is providing answers but not every CRM platform is a fit for small companies. Customer support has become an important differentiator.
- One Approach to Solving the Lead Generation Question – Way to – Small business owners are concerned about higher wages in the wake of President Obama’s State of the Union pledge to raise the minimum wage. Some are looking at tablet technology to lower the impact of higher labor costs.
- Banks Used Small Biz Funds to pay TARP – A government watchdog group released a report revealing 137 community banks that used taxpayer funds aimed at stimulating small biz to repay the Troubled Asset Relief Program bailout debts. The Treasure authorized $30 billion to extend loans to small businesses. Only $4 billion was spent but $2.7 billion went to banks that turned around and used $2.1 billion to repay high-interest debt.
- Small Biz Insurance Program Delayed – The Small Business Health Options Program (SHOP) was due to begin in October but the Obama administration just announced plans to delay implementation. The program, intended for businesses with 100 or fewer employees will now start next year.
