Archive for October, 2016

Wall Street v Main Street

Monday, October 31st, 2016

Getting the Right Funding Can be Daunting – But There is Hope

Monday, October 31st, 2016

Sponsored Post

getting business funding

Vendedy is the first social network designed to connect global travelers to street markets. Founded by Forbes30Under30 Entrepreneur Christine Souffrant Ntim, the small business’s goal is to digitize the $10 trillion dollar street market economy and make it accessible to anyone and everyone.

But when Ntim started out, she had an incredibly difficult time getting the funding she needed. Watch this quick video to find out how Vendedy turned fails into sales:

When you’re an entrepreneur attempting to start a small business, getting funding can be tough. That’s especially true if you’re like Ntim and trying to launch something bold and new. So its important to explore all both traditional and newer funding options and pick the one that best fits you and your business best.

For example, you might be able to get a traditional small business loan, just beware of prepayment and other penalties that are part of the agreement. Newer types of options to consider include crowdfunding, online lenders and non-profit lenders. You might also consider applying for a loan from the U.S. Small Business Association.

Watch more of Carbonite’s “Small Business Storytellers” videos.

Image: Video Still

This article, “Getting the Right Funding Can be Daunting – But There is Hope” was first published on Small Business Trends


Bulgaria May Have Railroad between Burgas Center, Airport

Monday, October 31st, 2016

A project is being prepared to build a railway between the central area of Burgas, the second-biggest coastal city, and Sarafovo Airport, Bulgarian Transport Minister Ivaylo Moskovski has said.

His words have come during an inspection of an infrastructure project in the area of the maritime station in Burgas.

An idea also being discussed in the ministry and among experts foresees the construction of an intercity linking Burgas with the Black Sea resort of Slanchev Bryag (Sunny Beach), the Bulgarian News Agency (BTA) quotes him as saying. 


GE and CenturyLink deals cap bumper month for M&A 

Monday, October 31st, 2016

Three takeovers join surge of blockbuster deals despite US political uncertainty

Romania’s Vrancea Rocked by New Quake

Monday, October 31st, 2016

A 4.1-magnitude earthquake has been measured in Vrancea country, Romania, state-run Agerpres agency says.

The Euro-Mediterranean Seismological Centre puts its magnitude at 4.

There have been no immediate reports of casualties.

The epicenter has been located at a depth of 100 km.

In September, a quake measuring 5.3 on the Richter scale was felt throughout the region.

Vrance’s tremor has become the second major one in Southeast Europe on Monday after the 4.2-strong one in Bosnia-Herzegovina, 60 km from Sarajevo, this morning.


Feds Short-changed Small Businesses Out of $200 Billion in Contracts in 2015 Alone, Says Advocacy Group

Monday, October 31st, 2016

Did the SBA fabricate small business contracting numbers? The American Small Business League, an advocate group, has accused the agency of doing just that.

The United States government agency responsible for supporting entrepreneurs has been accused of short-changing small business owners out of $2 trillion in federal contracts over the last ten years.

Federal law currently dictates that small businesses must receive a minimum of 23 percent of all government contracts granted, and the Small Business Administration (SBA) is responsible for helping to ensure that target is met by connecting government agencies with business owners.

Yet according to advocates at the American Small Business League (ASBL), the SBA has been “falsifying” the government’s 23 percent target compliance by using inaccurate budgeting figures.

In 2015, the Congressional Budget Office (PDF) reported an acquisition budget of $1.2 trillion. This would mean that small businesses should have been legally entitled to receive a minimum $276 billion worth of government contracts that year. But according to the ASBL, the SBA only used an acquisition budget of $370 billion in its figures — thus “inflating their numbers” to show that small businesses received 24.9 percent of all federal contracts in 2015.

As a result, the ASBL asserts small business owners received just $40 billion of the $276 billion in contracts that should have been set aside for them last year, landing them with just three percent of all federal contracts.

In addition, the ASBL accused the SBA of diverting billions of dollars in federal contracts to larger companies thanks to a grandfathering rule that continued to class businesses that had grown substantially in size over time as “small”.

Those accusations led to the ASBL filing a controversial injunction against the SBA in May, although Federal District Judge Vince Chhabria ultimately tossed out the injunction (PDF) on October 18. He argued that, if the SBA has indeed falsified meeting its target requirements, it should be Congress not the courts that hold the agency to account.

In an release, ASBL President Lloyd Chapman said the court’s decision is disappointing setback in the group’s battle to hold the SBA responsible.

“If the lawsuit had been allowed to get its rightful day in court on the merits, the lawsuit would have required the SBA to give all small businesses — and doubly so for minority, women-owned, and disabled veteran businesses — a larger and proper share of federal procurement,” Chapman said.

“Dismissing the suit frustrates the legitimate rights of small businesses to their proper share of the true scale of government contracting.”

The SBA has yet to issue a statement following the court’s decision to toss out the injunction. The ASBL has said it plans to appeal.

Two-dollar Bill Photo via Shutterstock

This article, “Feds Short-changed Small Businesses Out of $200 Billion in Contracts in 2015 Alone, Says Advocacy Group” was first published on Small Business Trends


GE and CenturyLink deals cap bumper month for M&A

Monday, October 31st, 2016

Two takeovers join surge of blockbuster deals despite US political uncertainty

R&D Spending in Bulgaria Up in 2015, Mostly Driven by Businesses

Monday, October 31st, 2016

Expenditure on research and development (R&D) activity in Bulgaria increased by nearly a quarter compared to the year before, preliminary national statistics show.

The total amount allocated to R&D was BGN 847, which is 27.4% more than in 2014.

R&S intensity – its value as % of GDP – also went up, rising to 0.96% last year. It was 0.79% in 2014.

This is still below the EU 2020 standards, under which total expenditure on R&D is to reach at least 3%.

Bulgaria will seek to attain half of this figure, or 1.5%, by the time, possibly raising it to 2% until 2025. R&D value as share of GDP was nearly doubled since 2011, when it was BGN 429.6 M (0.53% of the economy).

Almost all of the growth in 2015 was due to the business enterprise sector where expenditure on R&D increased by BGN 183.7 M BGN or 42.0%.

The business enterprise sector was the largest of the four institutional sectors of R&D performance, accounting for 73.3% of the total expenditure. It was followed by the government sector, higher education sector and private non-profit sector with share of 20.8%, 5.4% and 0.5% respectively.

R&D activity was financed from the state budget, businesses, other national sources and from abroad. Foreign sources of funds continued to have the largest share in the R&D funding in Bulgaria – in 2015 it amounted to 44.0% of total R&D expenditure.

At the same time the highest growth rate was that of R&D funds coming from the business enterprise sector, they have doubled compared to the previous 2014 and accounted for 35.3% of total R&D expenditure in the country
Applied research was prevalent in the structure of current R&D expenditure by type of research in 2015, as in the previous year, its share being 66.8% (BGN 488.9 M), followed by experimental development and basic research – with share of 23.9% (BGN 174.8 M) and 9.3% (BGN 68.5 M) respectively.

The number of people employed with R&D activity as a full-time assignment increased last year to 22 421, 16% up compared to 2014. While the share of women (48) in that personnel was slightly lower, a 3.4% payment gap was observed in favour of men.

For the first time in 2015, the main part of the scientific staff is concentrated in companies and research institutes in the business enterprise sector – 42.0% of the total staff (in full time equivalent) or 9 409 persons.

In organizations and institutions of the government sector in scientific activities were involved 8 328 people, which constitutes 37.1% of the total R&D personnel in 2015. In the higher education sector 4 521 persons were engaged in research and development, their share is 20.2%.

The growth rate in 2015 compared to 2014 of business R&D expenditure (42.0%) and R&D personnel in business enterprise sector (73.2%) is mostly due to the large number of new R&D performing companies in 2015.


QuickBooks Users Can Now Accept Payments Through PayPal

Monday, October 31st, 2016

Small business owners who use QuickBooks can finally sync PayPal payments into the platform as now you can accept PayPal through QuickBooks online.

Intuit Inc. (NASDAQ: INTU), QuickBooks’ parent company, has announced that QuickBooks users will soon be able to send an electronic invoice from Intuit QuickBooks Online and seamlessly accept payment from their customers through PayPal (NASDAQ:PYPL).

Yep, now small businesses can accept PayPal payments through QuickBooks.

“PayPal is a natural fit for QuickBooks: it gives small businesses a way to tap into the 188 million consumers looking for PayPal as a way to pay,” explained Vinay Pai, Vice President, Intuit Developer Platform, in a post announcing the integration on the official Intuit QuickBooks blog.

Details of the QuickBooks and PayPal Integration

According to Pai, your PayPal data will seamlessly carry over into QuickBooks, eliminating time-consuming data entry and cutting out the likelihood of human error. QuickBooks Online users will see PayPal Express Checkout as an option within the eInvoicing product.

Other integration perks mentioned in the announcement include the ability to:

  • Import PayPal payments and fees into QuickBooks.
  • Have invoices are automatically marked “paid” when a customer pays via PayPal.
  • Automatically sync valuable customer information with customer information from PayPal.
  • Securely download other transactions, such as expenses and bank transfers, into default categories within QuickBooks.
  • Automatically import from PayPal into QuickBooks.

The integration of QuickBooks with PayPal follows another announcement recent announcement that QuickBooks integrating with Interestingly, Xero (NZE:XRO), QuickBooks’ bookkeeping and accounting software rival, also recently integrated with PayPal in a move that seems part of a wider trend to help make it easier for small businesses and accountants to send professional invoices and get paid.

“This update [integrating PayPal into QuickBooks] may be one small step for QuickBooks and PayPal, but it’s one giant leap for small businesses and accountants everywhere,” wrote Dan Leberman, vice president of North America Small Business at PayPal, on the official PayPal blog.

Image: Intuit

This article, “QuickBooks Users Can Now Accept Payments Through PayPal” was first published on Small Business Trends


ExxonMobil’s financial reporting under scrutiny

Monday, October 31st, 2016

The company faces questions about its reserves and asset valuations as oil slumps

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