3 Things You Should Know About Small Business: Oct. 8
About 30% of small-business owners buy coverage from insurance companies on their own, while just 40% get job-based health insurance either from their own company or through a family member's employer, the article says.
There is some good news, according to the report. About 60% of entrepreneurs who buy private insurance are qualified for tax credits under the health-care reform act and 83% of those small-business owners who are uninsured would be eligible for subsidized coverage under the law, the article says.
3. Cash mob hits local Manhattan businesses. The latest trend to support struggling local businesses through so-called cash mobs has hit Manhattan. Cash mobs are large groups of consumers arriving at the same venue at a specific time to purchase as much as its members can reasonably afford in an effort to support the business. The term is an offset to the "flash mob," a group of people that descend on a particular location to break out into a synchronized dance.
According to DNAinfo.com, a community outreach organization has recently started organizing cash mobs in Washington Heights, a part of uptown Manhattan, to support local businesses and artists."It just reached a tipping point," Upper Community Church pastor Reyn Cabinte told DNAinfo. "We had to put a team together to do something." The first cash mob supported a local artist, Inwood-based Will Alicea, best known as Will Teez. About 25 people packed into the back of a local café to purchase T-shirts and buttons made by the artist, the article says. Many members then stayed for brunch or coffee to support the local café as well. The cash mob plans to visit other stores in need of support in the area. -- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: firstname.lastname@example.org.
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