Search

Stemming from a collaboration between the Census Bureau and the National Center for Science and Engineering Statistics (NCSES) within the National Science Foundation (NSF), a new data set aims to untangle the dynamics of research and development (R&D) performed by private companies.

Amid dwindling hope for a second stimulus package from Congress, the Federal Reserve has widened the terms of its Main Street lending program to better target support for small businesses. According to the new guidelines, the minimum loan size for three Main Street vehicles available to for-profit and non-profit borrowers has been reduced from $250,000 to $100,000. Corresponding fees have also been adjusted to encourage loan dispersal.

A recent report by the National Women’s Business Council (NWBC) and the Small Business Administration (SBA) found that participation rates in the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs by women-owned small businesses (WOSB) has essentially remained flat since 2011. Although participation rates vary by awarding agency, the report highlights several barriers faced by women entrepreneurs.

As the global economy continues to struggle through the COVID-19 pandemic, the National Institutes of Health (NIH) has released an interactive online tool for discovering success stories of small business innovation and entrepreneurship. Showcasing several of the businesses that have successfully leveraged NIH small business funding — totaling more than $1 billion annually — to develop healthcare products and services, NIH’s Small Business Education and Entrepreneurial Development (SEED) office hopes that the tool will inspire others to start businesses and develop their technologies.

The longer the pandemic lasts, the greater the jeopardy to many small businesses. A recent report from McKinsey & Company finds that the sectors most affected by the coronavirus and the least financially resilient include 1.7 million small businesses, employ 20 million workers, and earn 12 percent of U.S. business revenue.

The House and Senate have both passed a bill that would alter the SBA’s Paycheck Protection Program. Businesses will now have up to 24 weeks to use forgivable funds, instead of the original eight weeks. The portion of the costs that must be spent on payroll has been reduced from 75 percent to 60 percent. The bill also changes many of the original legislation’s hard deadlines from the end of June to Dec. 31.

A trio of recent reports reflect the pernicious effects the pandemic is having on small businesses. Last month, a survey from the Society for Human Resource Management (SHRM) found that 52 percent of small businesses expected to be out of business within six months. SHRM President and CEO Johnny C.

SBA released data on the Paycheck Protection Program (PPP) this week for all approved loan activity through April 13 and told banks Wednesday night that the program is nearly out of funds. The data show more than 1 million loans worth more than $247 million approved across all states and territories.

The fallout from COVID-19 is growing as unemployment numbers skyrocket, small businesses are faced with closures, and employers try to protect both their business and employees. A just-released national study conducted by America’s Small Business Development Centers (SBDC) and Thryv Inc.,  found that 69 percent of U.S. small businesses have already experienced a large drop in demand due to the coronavirus pandemic and 60 percent believe demand will continue to decline.

A report released last fall on the financial stability of U.S. small businesses in 25 metros has been given new context as attempts to slow the coronavirus pandemic have brought a majority of in-person commerce to a halt across communities, the country, and the globe.

The share of the nation’s economy stemming from small businesses — “the lifeblood of the U.S. economy” — has waned since 1998, according to a new report by Kathryn Kobe and Richard Schwinn on behalf of the U.S. Small Business Administration’s Office of Advocacy. Despite overall growth in small business GDP, the number of small businesses and their employment levels have not yet recovered from their pre-recession value.

Companies employing more than 5,000 people represent nearly two-thirds (63.9 percent) of all business R&D in the United States, according to an analysis of NSF’s Business Research, Development, and Innovation Survey (BRDIS). With the recent release of more detailed numbers and to expand on a Useful Stats report from earlier this year, this analysis focuses on business R&D by company size.

The Small Business Administration released its annual solicitation for the Federal and State Technology (FAST) Partnership Program, a competitive grants program for eligible organizations to conduct outreach and provide technical assistance services to technology-based small business owners.

The Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE) has launched the third round of the Small Business Vouchers (SBVs) pilot program.

The Department of Energy (DOE) recently announced that 43 small businesses had been selected to participate in the second round of its Small Business Voucher (SBV) pilot project, and was collectively awarded more than $8 million for a wide range of R&D clean energy, public-private sector innovation activities.

On July 25, the Small Business Administration (SBA) released a framework that allows qualifying small and disadvantaged businesses to obtain developmental assistance from mentor companies (both large and small businesses) and form joint ventures with those mentors to pursue government contracts.

The Department of Energy (DOE) announced that it is accepting applications for the first round of its Small Business Vouchers Pilot (SBV) program. Under the SBV program, the DOE will commit up to $20 million in technical and research assistance awards to help small businesses bring next-generation clean energy technologies. Companies may apply for and receive up to $300,000 in assistance from U.S. Department of Energy national laboratories nationwide.

Although the uncertainty associated with business churn may cause concern for some, regions with more job turnover also exhibit signs of higher life-satisfaction, according to a recent study. In Creative Destruction and Subjective Wellbeing, researchers from Harvard University, Princeton University, and the University of Pennsylvania use cross-sectional MSA level data to analyze the relationship between turnover-driven growth and subjective well-being.

The Small Business Administration announced the FY15 awardees of its Federal and State Technology (FAST) Partnership Program. In FY15, 20 state and local economic development agencies, business development centers, and colleges and universities will receive $100,000 each to support programs to establish and/or sustain programs that provide support to innovative, technology-driven small businesses in their state and help them compete in federally funded research and development through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Business owners felt overwhelmingly optimistic about the future, as over 80 percent of them predicted their revenues would increase over the next three months and that financial conditions would be better as well, according to a new survey from Thumbtack.com and Bloomberg  Professional Service.