This Week in Business News: Obamacare Raising Costs, Ohio Seeking Minority Business, and a 10-Year-Old CEO

Well, it looks like there is some interesting stuff to report in this week’s business news. We start in Texas, where the Federal Reserve Bank has reported that Obamacare is making things expensive for small business. Moving into Ohio, we find a state seeking more minority business contracts. And finally we’ll head to Kentucky, where we’ll meet the 10-year-old CEO Jack Jones. All that in this week’s small business news.

Federal Reserve Banks Agree Obamacare Is Hurting Business

This week, the Texas Federal Reserve Bank was the fourth FRS to report that the Affordable Care Act, more commonly referred to as Obamacare, is causing prices to raise within small businesses. Many small companies who can’t afford the requirements are dealing with the expense as best they can. Some cut employee hours, some pass the increased health care cost off on the employees, and some raise the cost of their merchandise. In all cases, it’s definitely causing the cost of living to go up. Find out the details on The Daily Caller.

Ohio Seeks More Minority Businesses for Contracts

In Ohio, it seems that there aren’t enough minority run businesses that are able to take the state’s money. Currently in contract with 282 minority-owned small businesses for he 2013 fiscal year – about a quarter of the state’s 1200 – Ohio wants to sign contracts with many more. According to Jackie Williams, chief of the Minority Business Development Division in the Ohio Development Services Agency, the state has trouble finding minority-owned businesses that are properly certified to work with the state. In fact, they’ve even incentivised the certification process. Check out the full story on the Dayton Business Journal.

Ten-year-old CEO Runs Successful Business

Ok, this one probably shouldn’t be news, and it’s pretty humorous. Jack Jones is the 10-year-old CEO of JR Jones Management Group, a company that buys and sells textbooks online. Apparently, working for him is “a day at Disneyland” according to his also 10-year-old marketing director Skylar Swalls. I got two things out of this article. The first: if a 10-year-old can run a successful business, so can you. The second: I can’t tell reality from sarcasm any more. Decide for yourself on KSDK.com.

If there is anything we missed this week that you feel should have made our report, or if you’d like to share your thoughts on what we reported, please feel free to do so in the comments. Have an awesome week!

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About the author:

Michael McNew
Web developer, marketing innovator, technology enthusiast, and founder of Visceral Concepts, Michael McNew has developed a passion for delivering value to small business, turning his creativity towards image and reputation building for small business owners.