Small businesses cheer Trump tax reforms, but some feel they didn’t go far enough
News Roundup for SMBs is a new series we’ve started this year, with a new issue coming out every week. We’re putting together news regarding Finance, Economy and Small Business Opportunities, so you can spend less time reading up on the news and more time focusing on growing your business.
We’re in the middle of tax season and the effects of President Donald Trump’s tax laws overhauling are felt more closely. Feelings are mixed: Main Street advocates are praising parts of the overhaul but also showcase instances where the law didn’t go far enough. Small business owners are having a hard time taking long-term decisions, as the tax breaks aren’t permanent. Some say Congress moving to make the tax breaks permanent would benefit the running of small businesses.
Washington Post put together the results of a series of recent studies on small business owners that show common threads of worries. One shows a growing uneasiness about the economy, that’s making businesses more aware of the long term impact of any decisions they take. Another shows that business owners have more trust in their companies than national or local economy. Yet another shows that hiring has slightly slowed, while business owners are making sure they have the revenue to justify adding another salary to their payroll.
AppRiver put together the first Cyberthreat Index for Business survey. The results show that over half of executives of SMBs are more worried about suffering a major data breach than a flood, a fire, a transit strike, or even a physical break-in of their office. In fact, almost as many SMBs are aware that a major data breach may shut down their companies completely.
The Biz2Credit Small Business Lending Index shows that loan approval for small business credit applicants hits a high of 27.2% at big banks ($10 billion+ in assets) in February. Meanwhile, approval rates at small banks, alternative lenders and credit unions have dipped slightly. This is good news, as it means money is still reaching borrowing small business owners, while the costs of capital are still reasonable when it comes to traditional bank loans.
Great news to any SMB who had their work blocked because of an incompatible Windows 10 upgrade. Microsoft now has a feature that removes “problematic updates” without requiring user interaction. The action will be implemented as a last resort when other automatic recovery attempts have fail to work and users will be notified when recent updates have been removed.