Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Bernanke warns of continued economic strife: Federal Reserve Chairman Ben Bernanke warned lawmakers Wednesday that unemployment probably will stay high and the nation’s recovery will remain slow for the next several years. He acknowledged that the unemployment rate has come down faster than anticipated but pointed out that wages are flat, borrowers are having trouble getting loans, and state and local governments are still laying off workers.
Start-ups spark growth in crowdsourced labor:A growing number of early-stage companies and small businesses are turning to crowdsourcing for a variety of one-off jobs, from simple data entry to software testing to research and development. Consequently, according to new data cited by the Wall Street Journal, the crowdsourcing sector has more than doubled in size since the recession.
GDP growth accelerated to close 2011: Stronger hiring and higher pay and savings should support solid growth for the economy in coming months, according to a report on economic growth in the final three months of 2011. The economy grew at a 3 percent annual rate in the October to December quarter, led by a jump in company restocking.
Keep an eye ‘on’:
Small businesses increasingly struggling to afford bankruptcy: Recent changes in bankruptcy law have given unsecured creditors more power and made bankruptcy more expensive for business owners, according to a report from the New York Times. That’s pushed troubled companies to liquidate their assets instead of reorganizing, which eliminates the original owners and many jobs in the process.
Helpful advice ‘on’:
How business valuations can benefit employers (OSB)
How to build a promising ad campaign (Fox Small Business)
How to jump head-first into social media (Yahoo)
How to make marketing materials stand out (Small Biz Bee)
How to completely start over on your business (Entrepreneur)