Thoughts from Pastor Chuck Huckaby

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Here are some small business headlines from over the weekend in case you want to catch up.  Nothing too earth shaking except the small business credit card news. Small Business Credit Card usage funds jobs?  Recently there was lots of hubbub about the average credit rating sinking below 600 making it more difficult for people to get credit cards. And the way credit card companies are, they will raise your interest rates in a nanosecond if you fall behind in a payment.

So I’m wondering how long this will still be news? It will be worth monitoring. I suspect some will use cards. Personally I’m trying to escape the cards and just boot strap small new ventures that create ongoing streams of income and the occasional nice “chunk” of revenue in my small business ventures.

How are you thinking about these issues?

Small business financial checkups get complicated

Small business owners who want to give their companies a midyear financial checkup may find it hard to forecast what the rest of the year will bring. It’s not just the economy that’s unpredictable, there’s also uncertainty about the tax laws.
Read more on Post-Bulletin

Small-business owners pessimistic on economy
Stocks rose nicely this past week but small-business confidence hasn’t caught up, not by a long shot. Business owners remain pessimistic and it didn’t help that the Federal Reserve trimmed its latest projections for gross domestic product, it said, would rise in a range of 3 percent to 3.5 percent this year. That’s down a little [...]
Read more on Colorado Springs Business Journal

Report: Small Business Credit Card Use Creates Jobs
Small-business credit card use creates jobs both directly and indirectly, giving businesses a beneficial financial “cushion” against cash shortages, a new study finds. The increase in small-business credit card use from 2003 to 2008 “contributed directly to the creation of 592,000 small business jobs and an additional one million direct or induced jobs throughout the U.S. economy,” according to …
Read more on Inc Magazine

Small business credit cards stage a tentative comeback
Small business owners, whose credit choices evaporated amid the recession and new regulations, have seen a modest return of credit cards aimed at them
Read more on FOX Business

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