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3 Things You Should Know About Small Business: Nov. 10

Stocks in this article: AXP WMT

NEW YORK ( MainStreet) -- What's happening in small business today?

1. Jobs for veterans.The International Franchise Association, in conjunction with the White House and U.S. Chamber of Commerce, launched an initiative to recruit 75,000 veterans and 5,000 wounded warriors by 2014 to the franchise industry. The initiative, Operation Enduring Opportunity, will be kicked off by first lady Michelle Obama in Washington as part of the White House Joining Forces Initiative.

Michele Obama will kick off an initiative by the International Franchise Association, supported by the White House initiative to recruit veterans to the franchise industry.

Ten franchised companies will be kicking off similar events in their local communities across the U.S. on Thursday.

"As tens of thousands of service men and women return from deployment in Iraq, Afghanistan and Southwest Asia, expanded opportunities are needed to ensure that veterans and their families are able to transition into the civilian economy. With its rapid training opportunities, defined structure and systems and need for operational excellence, franchising provides an ideal structure to enable returning veterans to become leaders of and productive participants in the U.S. economy," says IFA President and CEO Steve Caldeira.

"We encourage all franchise businesses, including franchisors and franchisees, to answer the call to offer jobs and career opportunities to veterans, wounded warriors and their families," Caldeira adds. "Not only is this critical for the economic and social stability of veterans and their families, but it is an important component of the U.S. economic recovery."

Check out TheStreet's Small Business section on Friday to read about franchises offering special incentives to veteran owners.

2. Steve Forbes on small business. Steve Forbes, editor-in-chief of Forbes Media, is teaming with American Express (AXP) OPEN to answer questions about venture capital opportunities today on American Express OPEN's Facebook page.

Forbes' first tip: Be careful what you ask for.

He wasn't talking about inadvertently taking on responsibility for small-business advice, though. He was warning that bringing on venture capital has risks. "They will often take a big chunk of equity and they won't hesitate to push you out if they don't think you are up to managing a fast-growing enterprise," he says of VC or angel investors.

3. Wal-Mart causing further ruckus for small-business owners. Small-business owners in Southern California, watch out: As if you don't have enough competition from Wal-Mart (WMT), the giant discount retailer set up two small stores in area malls that will be open through the holiday season, Reuters reports.

Wal-Mart is apparently experimenting with the smaller, temporary holiday stores that will carry gift-giving options. They're mainly showrooms where shoppers can buy via the Internet, and a spokesman told Reuters there is "no plans to expand these stores at this time."

Uh, OK, we'll just see a few hundred of them next season.

-- Written by Laurie Kulikowski in New York.

To follow Laurie Kulikowski on Twitter, go to:!/LKulikowski

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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