Business Council of Alabama

Other Stories

Small Firm Lending Pace Accelerated in 2007

The number of small business loans outstanding under $1 million increased by 15 percent between June 2006 and June 2007, according to a report released in June by the Office of Advocacy of the U.S. Small Business Administration.

Small firms are hardest hit by rising energy costs, according to a study released in April by the Office of Advocacy of the U.S. Small Business Administration.

The Internal Revenue Service has launched a year-long campaign to help educate new self-employed small business owners about federal tax responsibilities and about filing Schedule C, Profit or Loss from Business – http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

Businesses that have bought assets – or are planning to do so – in 2008 can benefit from the same legislation that is delivering payments to individuals this year.

Many small businesses may dislike paying taxes, and complying with federal tax regulations is not always easy, but there’s a lot to like about the IRS’s highly regarded new online newsletter, e-News for Small Businesses.

Business.gov, the official business link to the U.S. Government, has expanded its services with the addition of new state and local search capabilities.

The U.S. Small Business Administration and Nationwide Mutual Insurance Company have teamed up to launch a disaster planning guide for small business owners.

Small Business Stats

Number of Businesses:
Did you know?

The percent of small businesses in Alabama for 2005 is 99.7.
Small businesses pay more than 45 percent of total U.S. private payroll
Small businesses have generated 60 to 80 percent of net new jobs annually over the last decade
Small businesses are 53 percent home-based and 3 percent franchises