Our daily blend of the latest news, trends and tips for the small business community.
What’s going ‘on’:
Facebook set for $100B valuation: When Facebook makes its debut on the markets Friday, shares will start at $38 each, right at the top of the $34 to $38 range that the company specified earlier this week. The company stands to raise up to $18 billion with its initial public offering, which will be the largest ever for a technology firm.
Landrieu, Snowe introduce bill targeting OED: Sens. Mary Landrieu (D-La.) and Olympia Snowe (R-Maine) on Thursday introduced the Strengthening Resources for America’s Entrepreneurs Act of 2012, which would increase oversight and accountability of the SBA’s Office of Entrepreneurial Development (OED) programs.
Unemployment claims hold steady: The number of jobless claims remained unchanged at 370,000 last week, suggesting modest gains in the job market, according to the latest data from the Labor Department. After soaring to a five-month high in April, application totals have declined and are now near their lowest level in four years.
Industrial production picks up: Industrial production exceeded economists’ forecasts last month, according to the latest report from the Federal Reserve, suggesting the economic recovery may be picking up steam. Outputs at factories, mines and utilities jumped 1.1 percent, marking the largest surge since December 2010.
Keep an eye ‘on’:
G-8 leaders descend on Camp David: World leaders will gather on Friday at Camp David, where the most pressing topics will be the spiraling economic decline in the euro region as well as the yet sluggish recoveries in other developed nations.
Detroit’s small firms threatened — literally: Recently, the murder of two store owners brought to light the plight of Detroit’s small business owners, who say too much violent crime and too few police make it exceptionally difficult to run their enterprises, according to a new report from Businessweek.
Helpful advice ‘on’:
How to get into a start-up accelerator (Open Forum)
How to choose your entrepreneurial path (U.S. News)
How to develop a tolerance for ambiguity (Forbes)
How to avoid big e-commerce mistakes (Entrepreneur)