Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Small business hiring tapers off: Small businesses added far fewer employees and reduced their workers’ hours this past month compared to the one prior, according to the latest data released by payroll processing firm Intuit. Overall, small firms added 40,000 new jobs, a step back from the 75,000 positions created in March.
Sales of small businesses picking up: Small firms are switching hands at an increasing rate, according to a report by BizBuySell.com, which lists businesses for sale. The company said said the first quarter of this year was the most active period in more than three years, with small-business transactions reaching 2008 levels.
Women primed to take more chief executive positions: Currently, women represent a tiny slice of the ranks of chief executives, but many are waiting in the wings at several Fortune 500 firms, according to a new report by The Wall Street Journal. One source predicted the the number of women chief executives could double in the next half decade.
Keep an eye ‘on’:
Current economic progress likely unsustainable: The economy grew by 2.2 percent in the first three months of the year, largely thanks to more consumer spending. Unfortunately, what people earned isn’t keeping up with their rising bills, and growth of this nature may be unsustainable because eventually consumers will run out of money.
Helpful advice ‘on’:
How to keep your most valued employees (TWP)
How to stay focused as an entrepreneur (Entrepreneur)
How to approach debt financing options (Star Tribune)
How to foster informal business relationships (Open Forum)