3 Things You Should Know About Small Business: Feb. 6
NEW YORK ( TheStreet) -- What's happening in small business today?
1. USPS ceasing Saturday mail. Say what? Yup, that's right. In an effort to cut costs, the U.S. Postal Service says beginning in August it's going to stop delivering mail on Saturdays, according to Politico.
USPS will save $2 billion annually from the measure. The Postal Service plans to issue a five-year financial plan in early March, the article says.
2. Kauffman's "State of Entrepreneurship" Address. The Kauffman Foundation hosted its fourth annual "State of Entrepreneurship Address: Financing Entrepreneurial Growth" on Tuesday in Washington, D.C.Guest speakers included U.S. Small Business Administrator Karen Mills, U.S. Sen. Jerry Moran and Kauffman CEO Tom McDonnell, among others, to discuss how financing entrepreneurship in the U.S. is a growing priority for a nation working to strengthen its economy. Mills continued the conversation in a guest post on Forbes, where she emphasized that "increasing entrepreneurial activity is critical to our economic vitality and global competitiveness. And that it must be a centerpiece of America's growth agenda so that we reach our full economic potential." A report by Kauffman notes that the rate of entrepreneurship fell before the Great Recession, making it even more critical, and difficult, to reverse the trend. The Kauffman event "laid out concrete ways the public and private sectors can work together to strengthen and expand America's entrepreneurial infrastructure -- from better financing of start-ups to making our supply chains more competitive," Mills writes. 3. Long winters bring cash flow issues to seasonal businesses. Extended winters can wreak havoc on the businesses that depend on warmer weather for the lion's share of their sales. For seasonal business owners, it's crucial to make cash flow projections as part of your financial planning, Biz2Credti's Rohit Arora writes in his Fox Business article. "This will enable you to predict your income and plan for lean times. Look back at your records from prior years to see when cash flow issues are most prevalent. Consider fixed expenses, such as rent and utilities, and your variable costs, such as salaries, inventory, and taxes and the times during the year when variable expenses will be highest," the article says. -- 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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