Small Business - McGraw-Hill Introduction to Business

New Round of Small Business Relief Arrives with Similar Problems

April 28, 2020

Last week, legislators approved of another round of small business loans after funding failed to reach thousands of companies the first time. Unfortunately, many of these desperate businesses are encountering the same problems as they did a few weeks ago. Shortly after going online on Monday, the Small Business Administration’s electronic loan portal crashed due to high demand. “The SBA’s systems were not designed to and are not capable of handling the volume of loans banks processed over the last Continue reading →

Regulation, Operations Management, Health, Ethics, Small Business, Entrepreneurship, Financing, Coronavirus, Loans

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Major Chains Receive Loans Meant for Small Businesses

April 21, 2020

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A few weeks ago, legislators approved a $2 trillion stimulus package that set aside $349 billion for small businesses that have drastically altered operations during the pandemic. After a poor rollout left many companies unable to petition for relief, however, the fund dried up last weekend with thousands of businesses still in need of loans. What’s more, among the companies that received relief included major chains with thousands of employees and numerous locations across the country.

For example, the Continue reading →

Ethics, Financing, Food & Drink, Coronavirus, Loans, Stimulus Bill, Regulation, Health, Small Business

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Record Number of Small Business Owners Sold Their Companies in 2016

January 17, 2017

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Running a small business takes a huge amount of work, so it’s not surprising that some entrepreneurs are more than happy to sell their companies if the right offer comes around. And according to data-tracking site BizBuySell, nearly 8,000 businesses did exactly that in 2016. This represents the largest number of small firms sold in a single year since data started getting collected in 2007.

But that doesn’t mean these companies were in financial trouble and needed outside buyers to Continue reading →

Management, Entrepreneurship, Small Business, Growth, Buyouts, Baby Boomers

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 20: Money and Financial Institutions

Knockoff Products Take a Toll on Small Business

May 18, 2015

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In an earlier issue of the newsletter, we took a look at the methods that Chinese authorities use to curb the production of counterfeit merchandise. For the most part, these measures focused on reporting knockoffs of big names like Nike and Gucci. But combating pirated products isn’t solely the problem of multinational brands. For instance, in 2012 Jeff Sasaki took his iPhone accessory company Element Case to a Hong Kong trade show. When he arrived at the convention, he found Continue reading →

Product Development, Retail, Regulation, Small Business, Ethics, Knockoff products, Manufacturing

Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Bonus Chapter A: Business Law

OnDeck Capital’s Controversial Lending Practices

May 15, 2015

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Even though the effects of the recession have eased in the last few years, some small businesses still can’t find banks willing to lend them money. After all, many financial institutions are looking to invest in established companies with little to no risk involved, qualities that most small businesses simply do not have. That’s where OnDeck Capital comes in. This lending startup touts itself as a disruptive financial force that can make loan assessments and send cash to companies within Continue reading →

Banking, Ethics, Finance, Small Business, OnDeck Capital, Innovation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 17: Accounting, Chapter 18: Financial Management, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Growing Importance of Hacker Insurance

February 26, 2015

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The recent hacks of Sony and Home Depot show just how much damage data breaches can do to big businesses. But a company doesn’t have to be multinational in order to attract the eyes of hackers. In fact, experts estimate that 44 percent of small businesses have been the victims of cyber attacks. According to the National Small Business Administration, each breach costs companies an average of $8,700 in damages.

“Cybercrime is in the news all the time, but there’s Continue reading →

Mobile, Innovation, Security, Small Business, Crime, Insurance, Ethics

Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

Hackers Target Small Biz Smartphones

May 2, 2014

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Smartphones have granted people unprecedented access to information, but many users don’t realize they’re giving away just as much access to themselves simply by using the devices. As we’ve previously discussed, retailers and search engines compile loads of data gathered from users’ browsing habits. And if these legitimate operations can easily obtain this info, then it stands to reason that people with more nefarious intentions can find a way into your data as well.