Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Senate Democrats propose small business tax cut: Days after House Republicans introduced legislation to reduce taxes for small business owners, Senate Democrats have responded with a competing proposal. Both measures would provide tax relief for employers through the end of the year but under different terms and with varying restrictions.
Bernanke remains cautious on signs of economic progress: Federal Reserve Chairman Ben Bernanke says the U.S. job market remains weak despite three months of strong hiring and that the Federal Reserve’s existing policies will help boost economic growth. Many took his cautious words about the economy to mean the Fed is likely to stick to its plan to hold short-term interest rates at record lows through 2014.
Executive pay edges slightly higher: The Wall Street Journal on Monday previewed the findings of its annual survey on executive compensation, which found that total direct compensation for the 65 chief executives in its study rose just 1.4 percent last year. The report called that change “surprisingly mediocre” given the significant increases many corporations saw in profits and revenue in 2011.
Keep an eye ‘on’:
FTC pushing transparency legislation: The Federal Trade Commission on Monday urged Congress to enact Internet privacy laws that would force data brokers to reveal what information they buy and sell about consumers. The suggestions mirror similar proposals made last month by the White House and highlights a growing consensus among federal officials that consumers need stronger protection for their online privacy.
Helpful advice ‘on’:
How to develop an effective social media policy (OSB)
How women business owners can find more capital (SBA)
How to avoid getting tricked by data analysis (Inc.)
How to survive when your firm gets sued (Open Forum)