California looks to incent Tesla to build locally & looks to help small business expand. Meanwhile, a study shows that too many companies are without a website. Have a read at what’s happening in small business this week’s business news.
What Else Can California Offer Elon Musk?
There’s some controversy this week over California’s bid to get Tesla to expand locally. Tesla Motor Corporation is looking to build a giant battery megafactory that will add 6500 jobs to the economy upon its completion. California has offered a huge tax incentive that is expressly targeted at the company and not available to other companies. While some feel that this is textbook cronyism, others suggest that it will make a great “stop-gap” legislation test that could potentially be expanded to other businesses if it works. Read more on The San Francisco Business Times.
CALIFORNIA: Businesses Prepare for Minimum Wage Hike
In a little under a month, California’s minimum wage will increase by $1 to a total of $9 per hour. It’s the first increase since 2008, and California’s businesses are preparing for the adjustment. It’s also not the last one they’ll face, as the wage will increase by another $1 in January, with the target being $13 per hour by 2017, followed by annual assessment that will show increases in proportion to the cost of living. Read more on The Press Enterprise.
Most Small Businesses Still Without Websites
Recently, a poll was taken of 3800 small businesses about their presence on the web. Sadly, only 45% of them answered that they had a website. While the reasons vary, it’s evidence that small businesses are slipping behind the times in terms of technology. Web presences have been proven to increase business, profits, and expansion, sometimes by as much as 300%. Read more on The Tampa Tribune.
By the way, if you’ve got a small business that’s still without a website, we can help. Just reach out and start a conversation. We’ll be happy to help! We’d also love to hear your thoughts on this week’s news in the comments. See you next week!