Facebook enter commerce with ‘shops’ to bring millions of small businesses online

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Facebook is bringing 160 million small businesses online to help them survive the coronavirus pandemic.

Shops starts rolling out today.

In a significant push for ecommerce and social commerce, Facebook is launching Shops to bring online millions of small businesses that have been struggling due to the ongoing coronavirus pandemic.

Shops, which enables businesses to set up free stores and live shopping tabs on Facebook and Instagram, is the tech giant’s attempt to restart the global economy by enabling commerce. “If you can’t physically open your store or restaurant, you can still take orders online and ship them to people,” Facebook CEO Mark Zuckerberg explained in a live stream.

“We’re seeing a lot of small businesses that never had online businesses get online for the first time,” he added.

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Alibaba and Lending Club start new financing program for U.S. businesses

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Peer-to-peer financing site Lending Club and have put in place a strategic partnership designed to get more U.S. businesses to buy inventory from the alibaba.com’s wholesale marketplace.  They will offer a new financial service called the alibaba.com e-Credit Line that will let U.S. companies apply for credit lines for $5,000 to $300,000, which they can then use to make purchases from the e-commerce giant. Continue reading… “Alibaba and Lending Club start new financing program for U.S. businesses”

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Crowdfunding trend will revolutionize the U.S. investing landscape

The tan building in the middle is 1351 H Street NE, where the plans for the restaurant Maketto are being drawn up.

Micah Lubens bought a share of a vacant, two-story brick building that was promoted as the next up-and-coming hot spot along D.C.’s bustling H Street corridor for only $100.

 

 

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Internet sales tax will force small businesses to abide by tax codes in 9,646 different jurisdictions

Every business could face 46 separate audits (from the 45 states that collect sales taxes plus the District of Columbia).

Legislation on internet sales tax could subject small online businesses to up to 46 state audits. And since sales taxes vary among thousands of tax jurisdictions across the country, the chances that auditors will find mistakes—and slap the business owners with penalties—are very good. If truth-in-advertising requirements applied to legislation, says Heritage Action’s Dan Holler, the Marketplace Fairness Act would be renamed the Tax Audits from Hell Act of 2013.

 

 

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Small business is big

Small business is an American cultural icon.  Companies with fewer than 500 employees account for almost two-thirds of net new jobs and generate 13 times more new patents per employee than large ones do. But optimism among these enterprises is at its lowest levels in almost 20 years. If the US economy had generated as many start-ups in the Great Recession’s aftermath as it did in 2007, the country would have almost 2.5 million more jobs.

 

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Now is the time for small business owners to build mobile apps

People spend inordinate amounts of time with their smartphones.

People are spending more and more amounts of time with their smartphones, even taking them to bed or even the bathroom.  Now is the time for small business to get in touch with their inner app developer and be where their customers are. (Infographic)

 

 

 

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8 debt options to finance your small business startup: part 1

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Credit cards are the most common form of financing for small business startups.

There are eight solutions to financing your startup with debt.  When you are talking about debt options, think of loans and lines of credit that you pay back to a lender.  We are not looking at any equity solutions such as angel investors, venture capital, etc.  But nothing is easy these days and if you have damaged credit or you’re looking for several hundred thousand dollars it’s much less likely to happen purely with debt.

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