5 Things To Know About Small Business This Week: May 31

NEW YORK ( TheStreet) - What happened in small business this week?

Who has the friendliest small-business credit card? Where are solo entrepreneurs starting businesses? National Small Business Week is coming in June. Is Facebook hurting your business? "Shark Tank's" Barbara Corcoran shares business lessons.

1. Bank of America is the "friendliest" credit card issuer to small businesses, according to CardHub's 2013 Small Business Credit Card Study. Bank of America ( BAC) beat out rival credit card issuers because it's the only company to have extended all of the major CARD Act protections to its business-branded cards, said CardHub, a credit card comparison website.

The CARD Act was passed in 2009 ostensibly to protect credit card users from unfair policies. Nonetheless, the law applies only to personal cards rather than business accounts despite the close ties between many small business owners' personal and company finances.

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CardHub does point out that of the 10 largest issuers, Citigroup ( C), Discover ( DFS), U.S. Bancorp ( USB ) and Wells Fargo ( WFC) have extended the least amount of CARD Act protections to their business-branded cards.

2. The number of single-person entrepreneurs rose in 2011 in every state apart from Louisiana and New Hampshire. The U.S. economy had more than 380,000 businesses without paid employees in 2011, an increase of 1.7% from the prior year, according to a new report, Nonemployer Statistics: 2011 from the U.S. Census Bureau.

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The report covers 19.4 million sole proprietors, 1.4 million corporations and 1.6 million partnerships, which together comprise the total number of non-employer businesses and about 75% of all businesses in the U.S.

The District of Columbia had the highest percent increase in the number of non-employer businesses, an increase of 7.2% in 2011 compared to the year before, followed by North Dakota (up 4.3%), Arizona (up 3.2%) and Delaware (up 2.9%).

Establishments within the category of "other services," which includes automotive repair and maintenance, barbershops, beauty salons, laundries and dry cleaners, gained the largest number, adding 159,163 non-employer businesses in 2011, an increase of 4.7%.

The number of non-employer businesses declined in only two sectors - construction and finance and insurance.

3. National Small Business Week kicks off June 17. The annual event, sponsored by the Small Business Administration from June 17-21 will feature, for the first time, events held in multiple cities, including Seattle, Dallas, St. Louis, Pittsburgh and Washington, D.C. Each city will feature one day of events culminating with an awards ceremony in Washington. Angie Hicks, founder of Angie's List ( ANGI) will headline National Small Business Week by taking part in a forum with SBA Administrator Karen Mills.

Small businesses that attend will meet with small business experts, federal government officials, representatives from national businesses and local elected leaders.

4. Four social media mistakes small-business owners should avoid. Is your Facebook ( FB) page hurting business? As more small-business owners turn to sites like Facebook and include automated tools such as a "Book Now" button for scheduling appointments, learning how to properly manage a social media page becomes crucial. Appointment-Plus says communication through a Facebook page means answering visitors' posts; being professional at all times, ditching the canned responses and posting frequently.

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5. Business funding lessons from Barbara Corcoran. Successful entrepreneur and one of the lead investors on ABC's "Shark Tank," Barbara Corcoran says she has invested thousands of dollars in start-ups. Of the 15 businesses in which she says she has made investments through her popular reality show, most - not all - have seen major growth and success, according to an interview she did with Fox Business.

Corcoran says she prefers to see entrepreneurs put some skin in the game first before they seek funding.

"Everyone is focused on finding the right angel investors," Corcoran told Fox Business. "The right people are themselves, I want to see how much money they can scrape together on their own. The reason is, that is the most valuable money, because you learn how to stretch it. And you will stretch every dollar."

Following that the next stop should be to family and friends, because entrepreneurs won't want to squander their cash. Following that -- look to crowdfunding, which she called "the Big Kahuna" of venture funding.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

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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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