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Posted at 06:30 AM ET, 08/02/2012

Get started: National unemployment rate inches higher, small business hiring fairs no better

Our daily blend of the latest news, trends and tips for the small business community.

What’s going ‘on’:

Economic reports show a weakening recovery: The economy added a modest163,000 jobs in July but the unemployment rate ticked up to 8.3 percent as many Americans continue searching for work. Small businesses aren’t exactly coming to their rescue, either, cutting their collective payrolls for the second consecutive month.

Small business borrowing drops off: Lending to small firms slipped last month to its lowest level since October 2011, according to the Thomson Reuters/PayNet Small Business Lending Index, which dropped for the fifth time in the past six months.

House OKs Republican tax plan: House Republicans have approved a measure extending the Bush-era tax cuts for all income-levels after voting down a competing Democratic Senate bill that would have let the cuts expire for those earning more than $250,000 per year.

Keep an eye ‘on’:

Congress leaves unfinished (small) business: Lawmakers on Friday adjourned for five-week break, leaving unsettled several legislative battles that could impact small businesses — among them, competing Bush-era tax proposals, targeted small business tax relief bills and a measure meant to curb onerous business regulations.

Helpful advice ‘on’:

How to survive the first few years in business (SBA)

How to respond if your financing falls through (Inc.)

How to incorporate your small business(Entrepreneur)

How to take lessons from hedge fund magnates (Huff Post)

By  |  06:30 AM ET, 08/02/2012

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