Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Obama proposes lower corporate tax rate: President Obama proposed a major overhaul of the nation’s tax code on Wednesday that would lower the corporate tax rate to 28 percent. At the same time, the president wants to boost overall revenue from corporate taxation by banning several deductions and loopholes that save companies tens of billions of dollars a year on their tax bills.
Small business capital spending hits four-year high: More than one out of four small employers (28 percent) plan to increase the amount of money their firm allocates for long-term investments this year, marking the highest level since 2008, according to a new Wells Fargo/Gallup poll. The portion expecting to increase investments also eclipsed the portion expecting to decrease them (23 percent) for the first time in four years.
Keep an eye ‘on’:
Housing market beginning to recover: Sales of previously occupied homes increased 4.3 percent from a downwardly revised 4.38 million in December to 4.57 million in January, marking the fastest pace since May 2010, according to new data from the National Association of Realtors. The nation’s total housing inventory also fell 0.4 percent, leaving 2.31 million homes currently on the market.
Zipcar contemplating renting out your car: The car-sharing company announced Wednesday that it led a $13.7 million round of funding in a peer-to-peer car rental start-up called Wheelz. The latter model could help Zipcar scale up more quickly and with much less capital by relying on other people’s vehicles rather than the purchase of additional cars.
Helpful advice ‘on’:
How to appease furious customers (Entrepreneur)
How to stay within the law when firing employees (SBA)
How to maximize your social-media impact (Open Forum)
How to find a technical co-founder (Yahoo Small Biz)