• Food Stalls

Small Business Week runs from October 16 – 22 and continues to celebrate the contributions of entrepreneurs to our country and province’s economic success during the official “Year of the Entrepreneur”. This year’s event theme, “Power Up Your Business. Invest. Innovate. Grow”, encourages entrepreneurs to attack challenges with renewed decisiveness, market awareness and creativity

“Our Government supports small business, and recognizes the significant role that entrepreneurs play in economic growth and job creation,” said Parliamentary Secretary Glover. “Small businesses are vital to our country’s economic prosperity and we are proud to be part of initiatives that help them grow and become more competitive.”

Small Business Week is an annual event promoting the success and growth of the small business community by providing business owners with unique opportunities to share their success stories, network, learn, and exchange innovative ideas.

“Small Business Week is a time to prepare for new challenges and opportunities,” said Michael Selci, Vice President, Financing and Consulting, Manitoba at BDC. “The success of small and medium-sized companies is vital to the province’s economy and BDC’s mission is to provide entrepreneurs in Manitoba with the support they need to succeed.”

Small and medium-sized businesses represent 97.5 per cent of all Canadian companies and employ the majority of workers across the country. A total of 97 per cent of the more than 102,000 small businesses in Manitoba have fewer than 50 employees, and over 90,000 people in Manitoba are self-employed.

Small Business Week is a national initiative sponsored by the Business Development Bank of Canada (BDC), in cooperation with the Canadian Chamber of Commerce and is locally supported by the Canada/Manitoba Business Service Centre. The Canada/Manitoba Business Service Centre (C/MBSC), a partnership between the Government of Canada and the Province of Manitoba, provides comprehensive business and trade information, training, and research to support new and existing entrepreneurs in Manitoba.

More information on Small Business Week activities in Manitoba is available at www.canadabusiness.mb.ca

Blackstone Accelerates Growth has the potential, over a ten year period, to help Maine entrepreneurs create more than 10,000 sustainable and higher paying innovation jobs, a significant impact in a state of 1.3 million. The program expects to add an additional $664 million in new revenues to Maine’s economy over those ten years and have a significant indirect, multiplier effect in job creation and economic improvement. In the first three years, 250 companies will be served, and more than 400 students will be prepared for work with innovative companies in regional centers.

The grant to Maine is the most recent commitment in the Foundation’s 5-year Entrepreneurship Initiative announced in the spring of 2010. Influenced by the urgent need for job growth in the wake of the economic collapse, Blackstone changed its Foundation’s mission and committed $50 million to fostering entrepreneurship in places with high unemployment. The Foundation looks for innovative projects and catalytic ideas that can meaningfully contribute to the economic rebuilding of the nation.

The conference includes 50 breakout workshops in the areas of sales, marketing, HR, money, social media, technology, as well as personal and professional development.  Business owners can also benefit from a 75-plus exhibit business-to-business trade show, countless networking opportunities, interactive learning labs, and peer-to-peer roundtables on topics pertinent to small businesses.

Other exciting components of the 2011 Small Business Conference include the COSE Ten Under 10 Awards, recognizing the top ten Northeast Ohio businesses with less than ten employees, and four hands-on learning labs featuring topics such as social media, QuickBooks, and database management.

The Conference is free to the first attendee from a COSE member company. Additional representatives from the same company are invited to attend for only $75. The non-member price for the Conference is $499. Breakfasts, lunches and parking are free with registration.

For more information or to register, call (216) 592-2222 or visit www.cose.org/sbc.

“Providing small businesses with the tools they need to grow and create jobs in the state is a top priority of the governor and our agency,” DCED Secretary C. Alan Walker said. “Export assistance is a great resource for small businesses interested in selling their goods and services to new markets.”

The SBA’s State Trade and Export Promotion Grant (STEP) Pilot Grant Initiative provides grants to states for small business exporting assistance programs. The STEP Initiative works to increase the number of small businesses that are exporting, and boost the value of exports for those small firms already exporting.

Pennsylvania’s Center for Trade Development will provide funds to qualifying companies to participate in multiple international trade events and projects. Industry categories will focus on food, energy, medical and wood/building. Countries include Taiwan, UAE, Brazil, Canada, Israel, Japan, Chile, Germany, Korea, India, China and others. The STEP project will hold at least two virtual buyer events with the Commercial Service and Pennsylvania universities.

From 2005 to present, the Center for Trade Development directly generated over $2.1 billion in new export sales and supported over 14,200 jobs in the state. In the last fiscal year alone, the program generated over $526 million in new export sales for Pennsylvania companies, supporting more than 4,000 jobs.

The Center for Trade Development, housed within the Department of Community and Economic Development’s Office of International Business Development, helps Pennsylvania exporters expand their reach, capacity and capability to sell into new markets by providing clients with access to market research, partner search services, grants, and a full schedule of international trade shows and missions.

For more information about the Office of International Business Development or other economic development services, visit NewPA.com or call 1-866-466-3972.

“In supporting our mission to strengthen our communities, the WSFS Small Business Loans-for-Job Creation Program will provide loans to help small businesses grow immediately and help fuel the broader economy,” said Mark A. Turner, WSFS President and Chief Executive Officer. ”WSFS has been lending to businesses throughout this extended downturn,” continued Mr. Turner. ”We also know small businesses are the engine of job creation and they have been hit especially hard over the last several years. Creating this program allows us to do our part to support small businesses right here, right now.”

“WSFS has a long record of helping Delawareans access the credit they need to start and grow a business,” said Sen. Carper. “It’s been tough out there the past several years for small business owners to find affordable access to capital, and I’m proud that a Delaware community bank is helping to extend this much needed credit to Delaware small businesses. I applaud WSFS’s Small Business Loans-for-Job Creation Program, which is another step in the right direction to get our economy moving and help put Delawareans back to work.”

“This announcement from WSFS is exciting news for Delaware’s business community,” Sen. Coons said.  ”The WSFS Small Business Loans-for-Job-Creation Program is a model for the type of institutional support that businesses need to grow and create jobs, and I’m optimistic that it will give Delaware’s economy a much-needed shot in the arm. This is how communities help get people back to work – by working together to help small businesses grow and create jobs. This program is win-win for Delaware.”

“Helping small businesses succeed is critical to creating jobs and strengthening the economy,” said Congressman Carney. ”I applaud WSFS Bank for developing the Small Business Loans-for-Job Creation Program and making resources available that will directly benefit small businesses in our community. This is exactly the type of support needed to grow the economy and help get Delawareans back to work.”

“Helping small businesses grow helps our economy,” said Governor Jack Markell.  “Through this WSFS program, Delaware businesses looking to expand can purchase equipment, build resources and in some cases, create jobs, by taking advantage of these loans.  This will give businesses some of the money they need to move forward.”

Creditworthy businesses with annual revenues up to $10 million that commit to using the funds for immediate investment (equipment investment, hiring of employees, etc.) will be eligible for loans up to $500,000 with no closing costs or other bank fees and at an attractive fixed rate. Business owners interested in the WSFS Small Business Loans-for-Job Creation Program can call Cheryl Rodriquez at 1-877-WSFSBIZ to learn more about this program.

“MultiFunding has released its first annual ranking of the most committed SBA lenders in order to honor and recognize the banks across the country who are aggressively helping small business owners through the SBA program,” said Ami Kassar, founder and CEO of MultiFunding. “These banks deserve all of our recognition and support for assisting the economy.”

The 127 lenders included in the ranking include FDIC insured banks that made a minimum of 50 SBA 7A loans in 2010.  Then, in order to rank them their volume of approved SBA loans was divided by their deposits at the end of 2010.

 MultiFunding’s Annual Ranking of Most Committed SBA Lenders

“The top 25 banks ranked in our study are helping small business owners in their communities live the American dream during tough economic times,” continued Kassar.  “It is staggering how these banks are able to help small businesses in contrast to the largest banks in the country that are leveraging a fraction of their deposits to make SBA loans.”
These top 25 banks made $2.9 billion of SBA 7A loans in 2010, with their collective deposit base of $5.6 billion dollars.  In contrast, the 25 largest banks in the country (ranked by deposits) made $3.6 billion of SBA loans with a collective deposit base of $5.7 trillion dollars.

Methodology

The study focuses on SBA 7A loans and does not include SBA 504 loans.  SBA 7A loans are the vast majority of all loans made through the SBA program. In our study, deposit data is derived from the FDIC website www.fdic.gov.  We use year-end deposit data to mark a calendar year. SBA loan data is obtained from www.colemanpublishing.com.

About MultiFunding

Based in the greater Philadelphia area, MultiFunding works with small business owners in more than 27 states to understand small business lending options, and to ultimately evaluate and secure the best loan alternatives for their businesses.  For further information, please visit www.multifunding.com or view the small business blog at sligshotcafe.net.

The Sage Business Index indicated that American business owners continue to be optimistic about the prospects for their businesses despite their growing concern about the country’s economy as a whole. On a scale of 0-100, where 50 is neutral and values above 50 reflect optimism and those below 50 denote pessimism, business owners have a confidence index at 55 when asked about their business prospects in the next six months. Confidence in the U.S. economy as a whole, however, was more negative at 41.57, a drop from 50.75 when the first Sage Business Index was conducted in February 2011.

Findings showed that confidence differences exist based on the size of the business. Small businesses are the least confident about what the future will bring, and the level of confidence increases with the number of employees a company has.

The Sage Business Index survey reports are available at www.businessindex.sage.com

The U.S. Small Business Administration and the Department of Commerce’s Minority Business Development Agency will bring minority business owners from around the country, government officials and corporate representatives, including corporate executives from Honda, General Motors, Chrysler, Northrop-Grumman, Raytheon and Lockheed Martin to participate in industry-specific workshops on increasing supplier diversity. The conference also will include sessions on high-speed rail construction projects, public utilities and green business.

SBA will present workshops on improving access to its lending and government contracting programs, and increasing business growth by using social media. SBA will also participate in a roundtable entitled “Doing Business with the Government.” There will be a business expo and tradeshow, business-to-business matchmaking sessions and a Small Business Town Hall to discuss the Small Business Jobs Act.

Speakers at MED Week 2011 will include Valerie Jarrett, Senior Advisor to the President, Health and Human Services Secretary Kathleen Sebelius and U.S. Housing and Urban Development Secretary Shaun Donovan, Acting Commerce Secretary Rebecca Blank, SBA Administrator Karen G. Mills, SBA Deputy Administrator Marie Johns and MBDA National Director David Hinson.

In addition to helping minority and small businesses expand their operations and establish a presence in the global marketplace, MED Week will help small businesses learn how to weather the current economic climate in the U.S. The MED Week conference will also distinguish the National Minority Small Business Person of the Year. Other award highlights include the SBA Administrator’s Leadership award and the 8(a) Graduate Firm of the Year award.

For additional information on MED Week activities, visit online at www.medweek.gov .

A packed three-day event, the Summit will include over 32 workshops and plenaries, a trade expo and “The Vault”, a match-making program connecting projects and entrepreneurs with sources of funding. These events will highlight Africa’s most promising sectors, including agribusiness, infrastructure, energy, health, power and security.

Featured speakers include Elizabeth Littlefield, President & CEO, Overseas Private Investment Corp (OPIC); Hanna Tetteh, Minister of Trade & Industry, Ghana; Joe Oteng-Adjei, Minister of Energy, Ghana; Hage Geingob, Minister of Trade & Industry, Namibia; Bart Nnaji, Minister of Power, Nigeria; Akin Adesina, Minister of Agriculture and Rural Development, Nigeria; Erastus Mwencha, Deputy Chairperson, African Union Commission, and Susan Mboya, Group Director Eurasia & Africa, Coca Cola.

“The nations of Africa are experiencing one of the greatest booms in business in the history of the African continent, and the Summit showcases these investment opportunities,“ said Stephen Hayes, CCA’s President and CEO. “The future of Africa is tied to the level of investment going into Africa, the last great frontier in the world for new investment and development.”

Attendees can meet potential business partners and learn more about the Obama Administration’s policy on Africa as well as details on the continent’s important position in the global economy. Participants will have the opportunity to network with key African and U.S. private sector and government representatives, identify specific growth areas and hear detailed information about projects that are ripe for investment. Additionally, they will learn about the latest financing options and meet numerous high-ranking African ministers.

More info here: http://www.africacncl.org/

SAN FRANCISCO – The Business & Entrepreneurship Center and Small Business Development Center are proud to bring The Extreme Entrepreneurship Tour to City College of San Francisco on September 21, 2011 as part of a four-week series of events at 16 Community Colleges throughout California.   The tour, presented by the U.S. Chamber of Commerce’s Campaign for Free Enterprise with lead funding from the Business & Entrepreneurship Center, exposes college students to the opportunities of entrepreneurship and to young people who have successfully launched their own companies.

Prospective entrepreneurs should be inspired, not intimidated, by the current economic climate, according to Michael Simmons, co-founder of the Extreme Entrepreneurship Tour. “More than half the companies on the 2009 Fortune 500 list were launched during a recession or bear market.”  Simmons said, “Technology and globalization have made it very inexpensive to start a business. Now is the best time to become your own boss.”

Arel Moodie, co-owner of the Extreme Entrepreneurship Tour, agrees with Simmons that there is opportunity, and that opportunity can have a significant impact on the job market: “Today’s students can be critical forces in the next 10 years to help create the 20 million jobs we need in this decade.”

The Extreme Entrepreneurship Tour (EET) was created in 2006 to expose young people to entrepreneurship. In more than 200 events in 35 states, the tour features many of the country’s top young entrepreneurs who have developed or sold successful companies before the age of 30. “We believe students have the ingenuity, entrepreneurial spirit, and drive to create the innovative solutions needed to meet today’s challenges,” said Stan Anderson, Chairman of the Campaign for Free Enterprise.  “EET is about leveraging the creativity of young people to be part of the solution in our effort to create jobs in America.”

“We believe strongly in strengthening the entrepreneurial spirit in California,” said Michael C. Roessler, Statewide Director, Business & Entrepreneurship Center Program. “Encouraging young people to engage in entrepreneurship as a legitimate career path is a logical first step.”

The Extreme Entrepreneurship California Tour schedule also includes:

Saddleback CollegeSeptember 12Mission Viejo, CA
East LA CollegeSeptember 13Monterey Park, CA
MiraCosta CollegeSeptember 16Oceanside, CA
Bakersfield CollegeSeptember 19Bakersfield, CA
Fresno City CollegeSeptember 20Fresno, CA
San Francisco City CollegeSeptember 21San Francisco, CA
Evergreen CollegeSeptember 22San Jose, CA
Monterrey Peninsula CollegeSeptember 23Monterey, CA
Columbia City CollegeSeptember 26Sonora, CA
Cosumnes River CollegeSeptember 28Sacramento, CA
Feather River CollegeSeptember 29Quincy, CA
Shasta College BECSeptember 30Redding, CA
Shasta College BECOctober 3Eureka, CA
Las Positas CollegeOctober 5Livermore, CA
Chabot CollegeOctober 6Hayward, CA
College of AlamedaOctober 7Oakland, CA

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About the Campaign for Free Enterprise
The Campaign for Free Enterprise is the U.S. Chamber of Commerce’s comprehensive, multi-year campaign to support free enterprise and entrepreneurship through national advertising; grassroots advocacy; citizen, community, and youth engagement; and research and ideas leadership

About the Business & Entrepreneurship Center (BEC) Program
The Business & Entrepreneurship Center (BEC) Program is part of the California Community Colleges Economic and Workforce Development program (CCCEWD). The CCCEWD invests in California’s economic growth and global competitiveness through industry-specific education, training and services that contribute to a highly skilled and productive workforce, and the capacity of businesses to make informed decisions that improve their profitability.  For more information please visit BuildCalifornia.org

Conversely, the Q2 report indicated that businesses with 100 to 249 employees have shown the greatest improvement in percentage of dollars delinquent and severely delinquent, reducing their debt by as much as 7.3 percent and 35.8 percent, respectively, year over year. The trend for Q2 mirrors this observation, showing that businesses with 100 to 249 employees have significantly decreased their delinquent and severely delinquent dollars by 5.4 percent and 20.2 percent, respectively.

Experian’s Business Benchmark Report provides a look at the health of U.S. businesses, focusing on key risk indicators such as commercial risk score,* days beyond terms (DBT) and percentage of delinquent debt. Experian recently redesigned the report to provide improved insights that will assist business-to-business professionals in better identifying potential risk and areas of opportunity.

Other findings from the Q2 Business Benchmark Report include the following:

Risk score

• The average commercial risk score for June 2011 was 57.4, worsening by 1.4 percent when compared with June 2010. However, the Q2 trend showed that this metric has remained relatively flat in recent months.
• Very large businesses have seen the greatest deterioration in commercial risk scores in a year-over-year comparison, decreasing by 13.2 percent. However, the Q2 trend showed a slight but steady improvement in commercial credit risk scores for very large businesses, rising by 2.2 percent.
• In June 2011, the commercial risk scores for businesses in the Mid-Atlantic and Northeast regions remained steady when compared with the previous year. All other regions showed deterioration in scores, with the Southeast region showing the greatest decrease in average score, worsening by 4.3 percent year over year.

DBT

• U.S. businesses paid their bills an average of 6.8 days beyond contracted terms in June 2011, a 12.5 percent increase when compared with June 2010. However, according to the Q2 trend, businesses have shown relative stability, decreasing by only 0.6 percent.
• All business sectors have shown an increase in slow payment in a year-over-year comparison. The largest increase in slow payment came from the Construction industry (17 percent) and Insurance industry (15.7 percent) when compared with June 2010. However, the Q2 trend showed that the Utilities, Insurance, Legal Services and Health Services sectors have improved their DBT by as much as 2.9 percent.
• In June 2011, all regions showed deterioration in DBT, with Midwest businesses showing the greatest increase (23.9 percent) in slow payment compared with the previous year. However, all regions showed a relative stabilization in DBT in the Q2 trend, decreasing their slow payment by as much as 1.4 percent.

Percentage of dollars delinquent

• The national average percentage of dollars delinquent and percentage of dollars considered severely delinquent increased by 7.1 percent and 3.7 percent, respectively, when compared with June 2010.
• The Insurance sector showed the greatest decrease in percentage of dollars delinquent and severely delinquent, reducing its debt by 38.9 percent and 45.5 percent, respectively, year over year. The trend for Q2 2011 showed that Insurance continued to reduce its delinquent debt (by 7.5 percent) and severely delinquent debt (by 8.5 percent).
• As of June 2011, Midwest, Southeast and Mid-Atlantic businesses have shown the greatest increase in percentage of dollars delinquent, increasing by as much as 15.9 percent when compared with the previous year. Businesses in the Northwest and the Midwest have shown the greatest increase in percentage of dollars considered severely delinquent, increasing by 35.6 percent and 18.2 percent, respectively, in the same time period. Conversely, businesses in the Southwest showed the greatest improvement in delinquent and severely delinquent dollars, reducing their debt by 16.9 percent and 24.9 percent, respectively, year over year.
• The trend for Q2 2011 showed that the Mountain region has increased its delinquent debt (by 9.7 percent) and percentage of dollars severely delinquent (by 21.3 percent). Additionally, the Northwest has continued to increase its percentage of delinquent and severely delinquent debt, rising by 4.7 percent and 22.9 percent, respectively.

To download previous reports or to see a visual representation of this data and other information broken down by state in an interactive map, visit http://www.experian.com/business-benchmark-report.

About Experian’s Business Information Services

Experian’s Business Information Services partners with organizations to establish and strengthen customer relationships, enabling them to mitigate risk and improve profitability. The company’s business database provides comprehensive, third-party-verified information on U.S. companies of all sizes, with the industry’s most extensive data on the broad spectrum of small and midsize businesses. By leveraging state-of-the-art technology and superior data compilation techniques, Experian is able to provide market-leading tools, such as BusinessIQSM, that assist clients in processing new applications, managing customer relationships and collecting on delinquent accounts. For more information about Experian’s advanced business-to-business products and services, visit http://www.experian.com/b2b.

The program targets business owners who want to make significant energy-saving improvements to their business facilities, allowing them to finance real estate and equipment upgrades or improvements. Unlike other initiatives, which can involve complicated applications or reporting requirements, the pilot program is a simple solution for business owners who need between $50,000 and $300,000 for green investments.

To fund the program, CRF received a $500,000 grant from the U.S. Department of Energy and the Minnesota Department of Commerce through the American Recovery and Reinvestment Act of 2009 (ARRA).

“Providing funding for energy financing and ‘green-dollar’ jobs strengthens Minnesota’s small businesses and gives them the resources to operate in an eco-friendly manner,” said Commissioner Mike Rothman of the Minnesota Department of Commerce, “and we are proud to work with CRF.”

“After more than 20 years of serving the capital needs of small businesses, CRF and its partners are uniquely suited to meet the growing demand for green building loans that will help spur development in communities throughout Minnesota,” said Frank Altman, president and chief executive officer of CRF.

For More Information

Visit www.crfusa.com/greenloan.

About CRF

CRF, a nonprofit organization and certified Community Development Financial Institution (CDFI), is the nation’s leader in bringing capital to public and private, nonprofit community development lenders through the secondary market for community development loans. Formed in 1988, CRF has injected more than $1 billion into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. CRF is headquartered in Minneapolis, Minn. www.crfusa.com.

The study released today by the greater Philadelphia-based small business loan advisor found that while 18 percent of small business owners have applied for a business loan over the past year, 73 percent of small business owners who are in need of a loan have not applied during the past year.  The top reasons they site for not applying are:

• Working on improving my credit first                                    21 percent
• Afraid of application rejection                                                 21 percent
• Not willing to pay high interest rates                                    18 percent
• Waiting for business to improve                                             17 percent

Of those who applied, two in five of these (42 percent) only received partial funding or had their applications rejected altogether.

“MultiFunding’s new survey conducted by Lieberman Research Worldwide demonstrates that there is plenty of demand for small business loans”, said Ami Kassar, founder and CEO of Multifunding.  “However, in this economic and lending environment many small business owners are afraid and scared of the loan application process.”

“Those who didn’t receive full funding claimed they would have hired an average of eight more employees if they would have received the full loan amount,” said Scott Luck, Vice President of Lieberman Research Worldwide’s Moving Targets^Tm division.  “We also believe that those in need of a loan, who are waiting to apply for one, would hire a similar amount of employees if they had the confidence to proceed with the loan process.”

A nationally representative sample of 1,200 small business owners was contacted for this study via a multimodal mobile and online survey methodology designed to capture the widest possible swath of small business owners in the U.S. The sampling error for the full sample is +/-3 percent.  The study was conducted by Lieberman Research Worldwide Moving Targets^Tm using the Thumbspeak platform during the week of July 11, 2011.

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About MultiFunding

Based in the greater Philadelphia area, MultiFunding works with small business owners in more than 27 states to understand small business lending options, and to ultimately evaluate and secure the best loan alternatives for their businesses.  For further information, please visit www.multifunding.com or view the small business blog at sligshotcafe.net.

According to 2009 statistics from the Philippine Overseas Employment Administration (POEA), more than 8 million overseas Filipinos are working abroad — the top ten employment destinations namely the US, Saudi Arabia, Canada, UAE, Australia, Malaysia, Japan, UK, Hong Kong and Singapore.

But while the government unceasingly recognizes the heroism of these individuals who contribute largely to the Philippines’ economic growth, there are also some Filipinos who choose to stay in the Philippines to establish their own businesses.  As of 2009, there are 780,437 business enterprises operating in the Philippines — and 99.6% (777,357) of these are micro-, small-, and medium-scale enterprises, or SMEs. These SMEs are touted as the backbone of the Philippine economy, with their businesses playing an indispensable role in boosting the country’s economic development.

Many of these businesses need to hire specific skill sets from time to time, and many more are service organizations that need to source clients and business. They can now do so easily online by tapping into www.freelancer.com where to date over 1.1 million jobs have been outsourced.

The World Working For the Filipino

Matt Barrie, the chief executive of Freelancer.com, the world’s largest online outsourcing marketplace, believes that there is a huge opportunity for Filipino SMEs, thanks to increasing globalization and the rapid adoption of the Internet in this country. The award-winning entrepreneur, technologist and lecturer, who holds a Masters degree in Engineering from Stanford University, believes one of the best solutions for Filipino entrepreneurs is by tapping into a global online jobs marketplace.

“The opportunity for Filipino entrepreneurs is booming online! Filipinos are already the fifth largest population on Freelancer.com, and the third largest freelancer community, and growing at a tremendous rate. Whether you have an idea to start a business and need to hire someone to help turn it into reality, or you’re an entrepreneur wanting to start a service business working as a freelancer online, there’s a huge opportunity,” he said.

The Philippine has the third largest Internet penetration in Asia Pacific and has been growing exponentially, increasing from 8 million users online to 30 million from 2009 to 2010. On top of this, social networking penetration is among the highest in the world, for example it is estimated that about 25 million of these online users have Facebook accounts.

SMEs in the Philippines can now connect with over 2.7 million verified professionals to get a variety of jobs done that don’t require hiring fulltime. Freelancers from over 400 different industries can be hired, starting at PhP1,200.00, and an average around PhP8,000. Apart from assisting employers, this online marketplace can also help Filipinos find alternative sources of income apart from their day jobs by working as freelancers or building service providing companies. The top freelancers on Freelancer.com are today making around US$1 million a year and already around 1.1 million jobs have been provided through the site to freelancers globally.

Freelancer.ph today offers transactions in Philippine Pesos; and, over time, would offer a range of local support and featured. The site already has over 100,000 registered Filipino users. The launch of Freelancer.ph will encourage more Filipinos to sign up and connect with the site’s growing international marketplace.

“As we increasingly localize www.freelancer.ph to suit the demands of Filipino SMEs and freelancers, there will be more and more opportunity build great businesses by going online,” said Mr. Barrie.

About Freelancer

Webby award-winning Freelancer.com is the largest outsourcing marketplace in the world. Through Freelancer.com, businesses connect with independent service providers and freelancers. Freelancer.com connects over 2.7 million professionals from all over the world. Through our website, employers can hire freelancers to do work in areas such as software, writing, data entry and design right through to engineering and the sciences, sales & marketing and accounting & legal services. Jobs start from 1200 PHP, making Freelancer.com extremely cost effective for small businesses, which often need a wide variety of jobs to be done, but cannot justify the expense of hiring full time.

In an index being released today by greater Philadelphia-based MultiFunding LLC, a small business loan advisor with clients in more than 27 states, it shows that in 2010, while the top banks controlled 60.94 percent of all deposits in the country, they only made 20.36 percent of all SBA 7A loans.

The index reveals that there has been plenty of demand for SBA loans during the recession, with the majority of the demand being met by smaller regional and community banks.  While the nation’s banks and lenders approved over $17.7 billion of SBA 7A loans in 2010, only $3.6 billion of these loans were approved by the nation’s 25 largest banks (ranked by deposits).

“The hard facts demonstrate that small business owners are more likely to get the loans they so desperately need at smaller banks,” said Ami Kassar, chief executive officer of MultiFunding.  “However, many start the process of looking for their loans at the larger banks, which often creates frustration and confusion.”

“The SBA program is designed to make it less risky and more lucrative for banks to lend to small businesses,” continued Kassar. “If the big banks aren’t leveraging the SBA program, then how are they supporting small businesses?”

MultiFunding’s 2010 Main Street Lenders Responsibility Lender Index ranks the top 25 banks in the country for their commitment to small business lending.    Manufacturers and Traders Trust Company is rated number one on the list. They controlled 0.53 percent of all deposits in 2010 but made 0.9 percent of all SBA 7A loans.

In contrast, Citibank and Bank of America, two of the nation’s largest banks had some of the lowest scores on the Index amongst the top 25 banks in the country that participate in the SBA 7A program.  These two institutions control 19.4 percent of all deposits and only approved 0.61 percent of all SBA 7A loans in 2010.  Despite ranking at the bottom of the Index, these two institutions ranked in the top two spots on the Troubled Asset Relief Program list taking over $812 billion in federal bailout money.

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About MultiFunding

Based in the greater Philadelphia area, MultiFunding works with small business owners in more than 27 states to understand small business lending options, and to ultimately evaluate and secure the best loan alternatives for their businesses.  For further information, please visit www.multifunding.com or view the small business blog at sligshotcafe.net.

The Founders Grant rewards an Nspire company with $25,000 each quarter – no strings attached – to help them continue to grow and succeed. While we are invested in their success, the Nspire company will retain full ownership of the company.
The Founders Grant provides a $25,000 stipend each quarter to a member of the recently launched Nspire Program. The Gwinnett Innovation Park Trustees, a panel of distinguished entrepreneurs and Atlanta business professionals, will select the quarterly honoree based on the merits of the business plan and business opportunity of an Nspire company that has been a resident for at least one quarter.
About Nspire Program and Founders Grant

The eHub Nspire Program helps give Atlanta-area entrepreneurs a fighting chance to become a successful business. It plans to give back to the entrepreneurial community by allowing a limited number of companies to establish an office in Gwinnett Innovation Park at no cost for one year. Designed to provide Atlanta-based technology entrepreneurs with the resources to succeed, the Nspire Program includes monthly face-to-face time with a successful serial entrepreneur, access to marketing and public relations advice and the opportunity to establish an office in Gwinnett Innovation Park. Nspire Program companies are eligible for the quarterly eHub Founders Grant which rewards entrepreneurial excellence and helps deserving companies continue on their path to success with a $25,000 – no strings attached – stipend. For more information or to download an application to become part of the Nspire Program email applicant@gwinnettinnovationpark.com.

This four-day event is expected to draw on more than 500 companies / organizations from around the world and over 80,000 visitors. Don’t miss out on the green opportunities and register your participation now.

Read more here.

“This conference offers a new approach to providing Veteran-owned businesses and service-disabled Veteran-owned businesses the access and tools they need to thrive in the Federal marketplace,” said Eric K. Shinseki, Secretary of Veterans Affairs. “Our primary goal is to help more Veterans start and grow their own businesses.”

The conference will offer valuable insight to assist both new and seasoned Veteran-owned and service-disabled Veteran-owned small businesses to succeed. More than 100 sessions will address a range of topics, including branding, marketing, management, financing and business opportunities within the federal government as well as how to secure loans through the Small Business Administration (SBA) and its new Express & Pilot Programs, which offer streamlined and expedited loan procedures for certain borrowers such as Veterans.

The National Veterans Small Business Conference and Expo is open to both government and non-government personnel. For more information and to register for the conference, go to www.nationalveteransconference.com .

The Green Builds Business Program is a full day of coaching on best practices adopted by business owners in an effort to lower operating costs, increase revenues, and motivate workers by incorporating sustainable efforts into their overall business models.

“The Green Builds Business program would not be possible without the support of Walmart who joined us in this effort to educate business owners on how to grow their businesses by going green,” says Javier Palomarez, USHCC President and CEO. “We are also very proud to collaborate with the Irving Hispanic Chamber of Commerce to make this program a success for their members.”

The USHCC Foundation will select 20 small businesses from Irving to participate in two one-day workshops on best practices for: pricing, marketing and branding that grow green revenues; reducing environmental footprint and operating costs; and motivating work associates with opportunities that help the company and the planet. At least one business will be selected to receive up to 24 hours of one-on-one green coaching (a $6,000 value) to formulate a green business plan or implement a green project that holds the potential of creating jobs, growing profits and reducing emissions this year.

Asusena Resendiz, President of the Irving Hispanic Chamber of Commerce says, “The U.S. Hispanic Chamber of Commerce Foundation is leading the way in creating a stronger environment and helping make our city more environmentally sustainable through its Green Builds Business Program and we anticipate a lot of participation, as well as significant benefits from the program in the future.”

EVENT CONTACTS:

USHCC Foundation
Jennifer Tarazon, Director
(202) 715-0493
jtarazon@ushcc.com
http://www.ushccfoundation.org/

Earth 2017
Bill Roth
(925) 323-2304
bill.roth@earth2017.com
http://www.earth2017.com

In a bid to build its small and medium enterprise franchise in the Asian region, DBS Bank has launched Entrepreneur’s Account for Start-ups. It is targeted at newly established businesses that are less than six months old. The initiative will give some of the 50,000 businesses set up each year in Singapore, banking services at a lower cost as well as other value-added benefits such as lower initial minimum deposit and waivers of subscription fees on several services.

The spirit of entrepreneurship is growing in Singapore and the new breed of entrepreneurs is comprised of much younger people. Global University Entrepreneurial Spirit Students’ Survey 2008 showed that 81.4% Singapore Students are keen on entrepreneurship. This is an indication of the tides turning in favor of entrepreneurship, as the mindset is changing. Organizations and educational institutions are doing their part by inspiring the young by having mentorship programs and awards to groom and recognize the achievers in this area.

Singapore has recognized the need for developing a strong array of local companies besides attracting multinationals to its shore. Singapore government is keen to promote entrepreneurship and starts by spotting them early and grooming them right. For example, SPRING has a scheme called, Young Entrepreneurs Scheme for Start-ups (YES! Schools), which provides schools with grants of up to S$100,000, to put in place a comprehensive & structured entrepreneurship learning programme, for their students. Another scheme, – Young Entrepreneurs Scheme for Start-ups (YES! Start-ups) – provides funding support of up to S$50,000 for youths to set up their innovative startup.

About Rikvin:
Rikvin offers business solutions and has successfully helped hundreds of foreign and local entrepreneurs form a Singapore company. The firm’s specialties include company registration, offshore company setup, incorporation and providing professional corporate services. Rikvin also provides professional services on accounting, taxation, immigration and processing of Singapore work visa for foreign workers to work and relocate in Singapore.

Commenting on the awards, Mr. Gaurav Marya (President, Franchise India Holdings Limited) said,“India is fast developing as a major ground for entrepreneurship owing to one of the largest youth population in the world. A majority of our country’s youth population is either aggressively exploring options to start or has already initiated something of its own. These awards have been instituted to recognize and felicitate those individuals who have dared to think out-of-the-box and have, through their passion, changed the way entrepreneurship is perceived in our country. By giving them their due recognition, we want to encourage others to take that one requisite step towards making their entrepreneurial dreams come true.”

World Chess Federation’s President Mr. Kirsan Ilyumzhinov was the chief guest for the occasion. Awardees received national recognition as the best entrepreneur entities across the country in their respective sectors. In all, there were 17 award categories spanning across different business verticals. Using a fair and rigorous award process, following people were selected for various awards:

1. Innovative Start-up of the Year – Mr. Vikas Swami, Networkers Home
2. Entrepreneur of the Year (Trading) – Mr. Rahul Mehta, Indian Home Variations & Distributions LLP
3. Entrepreneur of the Year (Consumer Business) – Mr. Subhasish Chakraborty, DTDC Courier and Cargo Ltd.
4. Entrepreneur of the Year (Manufacturing) – Mr. Sunil Chari, Rossari Biotech Ltd
5. Dynamic Entrepreneur of the Year (Business Transformation) – Mr. Vikaas Gutgutia, Ferns N Petals Pvt. Ltd.
6. Entrepreneur of the Year (Innovation in Technology) – Mr. Yogesh Bansal, ApnaCircle.com
7. Professional Entrepreneur of the Year – Mr. Om Manchanda, Dr Lal PathLabs Pvt Ltd.
8. Entrepreneur of the Year (Innovation in Financial and Business Services) – Mr. Honey Katiyal, Investers Clinic Infratech Pvt. Ltd.
9. Social Entrepreneur of the Year – Mr. S. V. Krishnan & Ms. Sudha Krishnan, ACE Experiences Asia Private Limited
10. Creative Entrepreneur of the Year – Mr. Vinod Jain, Magppie
11. Young Entrepreneur of the Year – Ms. Ameera Shah, Metropolis Healthcare Ltd.
12. Serial Entrepreneur of the Year – Mr. Harish Bahl, Fashion and You
13. Woman Entrepreneur of the Year – Ms. Shahnaz Husain, Shahnaz Herbals
14. Family Entrepreneur of the Year – Mr. Rafiq Malik, Metro Shoes Ltd.
15. Business Mentor of the Year – Mr. Sam Chopra, Remax Cybiz Centre
16. Lifetime Achievement Award – Mr. D. K. Jain, Luxor Group
17. Entrepreneur of the Year – Mr. Kunwer Sachdev, Su-Kam Power System Ltd.

On receiving the Woman Entrepreneur of the Year Award, Ms. Shahnaz Husain expressed her delight by saying,“I started my career based on the Franchise system and have never looked back. I am honored to receive the prestigious Woman Entrepreneur of the Year Award from Franchise India.”

Entrepreneur India Awards 2011 (entrepreneurindia.org) also witnessed scintillating performances by singer Shibani Kashyap and Angels Dance Troupe. The awards ceremony was a part of Entrepreneur India 2011, a two day national conference which was organized to serve as a platform for the young and aspiring entrepreneurs to get a better understanding of entrepreneurship, innovation and how to unleash the creative potential in individuals, companies and regions.

Multi-Funding ‘s Chief Executive Officer, Ami Kassar, the former Advanta executive who started MultiFunding said its research team examined 250 geographically diverse small business owners referred to the company for the lending assistance. “All of the participants had an annual revenue averaging 750k and sought an average of 325k in funding, and the business owners were divided into three groups by lenders,” said Kassar.

1. Asset Rich Business Owners – (31 percent in our study)

These are business owners with assets and/or cash. They are fortunate in that they still have equity left in their homes, buildings, and equipment that is sufficient enough to meet the collateral requirements of banks and SBA lenders. These borrowers benefit from interest rates between 3 percent and 8 percent a year. Ironically, the government supported SBA programs favor this group. They can benefit from a commercial mortgage or a loan program backed by the SBA.

2. Marginal Business Owners (47 percent in our study)

Business owners who fare well with credit and cash flow, but do not have assets backing their business. Thought of as “B Borrowers” these businesses will have to turn to Factoring, Merchant Cash Advance Loans, Unsecured Loans and Private Money Loans. They pay a high premium because of their lack of collateral.

3. Non Lendable Business Owners (15 percent in our study)

Due to bad credit, poor cash flow and lack of collateral, these are small businesses that are not eligible for any type of financing.

Attendees include top leaders from foundations, education, government, corporations, media, and non-profit organizations that combined serve over 30 million aspiring and existing entrepreneurs per year and have given over $1 billion in donations to the field. Attendees include the founder of PriceLine.com, members of the White House, and the CEO of SCORE.

According to a recent survey by the Young Entrepreneur Council in partnership with Buzz Marketing Group of over 1,600 individuals ages 16-39, 89% of respondents believe entrepreneurial education is imperative today, given the new economy and job market, but 73% were not offered classes on entrepreneurship in college.

The event will be live-streamed for free to thousands in the entrepreneurship education field on February 18, starting at 9:40 a.m. EST at http://www.feesummit.com/live.

If you’d like more information on the Future of Entrepreneurship Education Summit, visit www.feesummit.com

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