Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
SEC investigating pre-IPO trading: In a series of enforcement actions, the Securities and Exchange Commission is looking into whether some investors were misled in recent pre-IPO trading of shares in technology firms. The actions came as the Senate is taking up legislation that would reduce regulatory requirements for companies seeking to raise money from investors.
Small business bill hits obstacles in the Senate: Since the House passed a bipartisan bill meant to help small firms raise money last week, an Obama administration official has voiced concerns the bill would weaken protections for investors and Democratic opponents have begun warning of repeats of the Enron and dot-com debacles.
Consumer confidence rises as unemployment claims fall: Claims for jobless benefits dropped last week to match a four-year low, and subsequently, consumer confidence has climbed to its highest mark (minus 33.7) since 2008, evidence that an improving labor market may be boosing household spending.
Keep an eye ‘on’:
Richmond duo launches the Groupon of underwear: A pair of Virginia entrepreneurs recently launched CheapUndies, the first deal-a-day site peddling nothing but upscale underwear. The company haggles with designer brands to secure bargain prices on large quantities of closeout products, bringing the popular e-commerce model to the undergarment market.
Helpful advice ‘on’:
How to land on your feet following a bankruptcy (OSB)
How to boost your firm’s online presence (Open Forum)
How your company can avoid a tax audit (Entrepreneur)
How to exit a business with minimal waste (New York Times)