This week’s small business news review found mixed sentiment around a higher minimum wage.
- Manufacturing at a Crossroads – The president of the National Association of Manufacturers (NAM) stated “manufacturing is not where it needs to be…the wrong choices can send manufacturers into a precipitous decline.”
- Startups Look to Alternative Financing Options – Samuel Adams founder Jim Koch developed an enterprise to help small business owners. The program helps startups through microloans and advice. So far, it has provided $1 million to 150 businesses.
- Minimum Wage Debate Heating Up – President Obama’s proposed minimum wage hike has garnered opinions on both sides of the issue. While the National Federation of Independent Business criticizes a raise, a growing number of small businesses support the idea of paying a “livable wage”.
- Granny Seeking Funding For Home-based Business – An 89-year-old entrepreneur is using Kickstarter to launch her product line. “Grandma Pearl” is offering some unique incentives and is already half-way to her goal.
- SBA Slimming 504 Loan Requirements – In an effort to streamline processes while maintaining deliverability, the Small Business Administration announced regulation changes intended to provide greater access to loans. SBA Administrator Karen Mills said the proposed regulations will “provide greater access to capital through our two largest loan programs.”