The Washington Post

Get started ‘On’ May 10: USPS abandons original overhaul plan, House reauthorizes Ex-Im Bank

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

What’s going ‘on’:

Postal Service cuts hours, not offices: The United States Postal Service has abandoned plans to close thousands of post offices and will instead reduce hours at most of its rural outposts, according to an announcement Wednesday. The most drastic changes will see window hours cut from the current eight to as few as two a day, and the plan is expected to save the agency $500 million per year.

Idaho, Texas rank tops for small business: Idaho, Texas, Oklahoma and Utah all earned top marks for their friendliness toward small businesses in a new report based on surveys conducted by the Kauffman Foundation and On the other hand, California and New York were among those at the bottom of the list.

House reauthorizes Ex-Im Bank: On Wednesday, House lawmakers voted 330 to 93 to reauthorize the Export-Import Bank for another three years, allowing the agency to continue providing trade resources to businesses across the country. Senate Majority Leader Harry Reid (D-Nev.) has already said that the Senate will likely approve the measure.

Keep an eye ‘on’:

Gas prices crippling small firms on various levels: A pair of small business owners explained how rising gas prices are hitting their bottom lines from a multitude of angles during a hearing Wednesday before the House Small Business Committee. The price of gas has already soared to $3.76 per gallon with further increases expected this summer.

Equity-based crowdfunding expected to rise 300 percent: Crowdfunding platforms worldwide raised a total of $1.5 billion last year, according to new data released by crowdfunding research firm massolution. The company also projected 300 percent growth in equity- and rewards-based funding in 2012.

Helpful advice ‘on’:

How to take a real innovation vacation (OSB)

How to market to baby-boomers (Entrepreneur)

How to insure employees who drive for work (NFIB)

How to run a business with your spouse (Open Forum)

J.D. Harrison covers startups, small business and entrepreneurship, with a focus on public policy, and he runs the On Small Business blog.


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