Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Republican Party beginning to rally behind Romney: House Majority Leader Eric Cantor of Virginia and Sen. Tom Coburn of Oklahoma both endorsed Mitt Romney on Sunday as Republicans increasingly show signs of rallying around the frontrunner. Fomer Missouri governor and senator John Ashcroft is also expected to join Romney’s team on Monday.
Fed breaks to weigh outlook: On the heels of a six-month economic growth campaign, the Fed will now pause to allow officials to reassess the state of the recovery. Fed officials meeting this week are unlikely to take any new actions to spur the recovery, according to the Wall Street Journal, and they are likely to emerge with a slightly more upbeat—but still very guarded—assessment of the economy.
Keep an eye ‘on’:
Lending climate shifts bargaining power to qualified borrowers: A litany of factors play into whether a small business is considered a “highly qualified” loan candidate, and each bank weighs those factors differently. But if you meet a lender’s test, you may hold the upper hand at the negotiating table given the current scarcity of such borrowers.
Helpful advice ‘on’:
How to weather the stormy contracting climate (OSB)
How small retailers can capitalize in urban villages (OSB)
How to identify and vet potential aquirers (Entrepreneur)
How to leverage the power of Foursquare (Open Forum)
How to avoid undermining online marketing (Miami Herald)