Looks like this report has a big focus on Washington DC. In business news this week, we’re going to see how President Obama’s plans from this 2014 State of the Union Address are faring. We’ll also take a look at some new opportunities that the federal government is making available to female entrepreneurs. And to finish it off, we’ll talk about a first for the federal government. Here’s what happened in small business last week.
Obama’s State of the Union Goals, Six Months Later
When he addressed the American people back in January, President Barrack Obama urged that this should be a “year of action” for a government that had done little to help accelerate the slowly growing economy. He placed a huge emphasis on economic stimulation, with sentiments like correcting a broken tax code and helping entrepreneurs to export goods. Here we are a little over six months later with many of his issues still left untouched. Washington Post has the whole list.
Women’s Small Business Ownership Act
Democrat Senator Maria Cantwell submitted the Women’s Small Business Ownership Act of 2014. This particular piece of legislation increases funding for Women’s Business Centers by nearly double. It also adds strong leverage to women-owned small businesses seeking government contracts, and increases the amount of microlending available to them by nearly $2 million. It’s a small step towards improving the economic situation, but a good one. Microbiz.org has the bill summary and a link to the PDF.
Government Hits Small Business Contracting Goal for First Time Since 2005, Officials Say
What a big ole’ newspaper headline, isn’t it? It looks like the federal government has finally hit its goal of contracting 23% of all federal spending to small businesses. It’s a first since 2005, even before the recession. That would be a good thing, except that it isn’t due to more contracts being awarded to small business instead of large, but instead because the government spent less overall. While we’d love to see the federal government spend less every year, it’s also important that the number of contracts awarded to small business grow. Read the whole analysis on the Washington Post.
Share your thoughts about this week’s news in the comments below. Also, feel free to send us any tips on news we should have reported. Have an awesome Monday!