This week: Young firms and the economy; A sole win for women business owners; Are you ready for EMV?
Missing Generation of Young Firms Drags Economy
We all know that small business is the economic engine of the company. We also know from more recent data that young firms—those fewer than five years old and twenty employees—are responsible for the majority of job growth. However, declining startup rates are now threatening growth. Read more . . .
Sole Source Authority Becomes Final
Except for the Women Owned Small Business program, every other small business contracting program has sole source authority. What does that mean? That in some circumstances, contracting officers can directly award contracts to eliminate a long, involved process for distributing the contracts.
Things are changing, though, and the WOSB program will soon recognize sole sourcing. The final rule goes into effect on Oct. 14, with a cap of $6.5 million for manufacturing contracts and a $4 million cap for others. Read more . . .
Businesses Preparing for EMV Compliance
Businesses that accept point-of-sale credit card transactions and are not EMV-compliant by October 1 could risk greater liabilities. Read more . . .