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Credibly Financial News Roundup for the Week of November 23, 2015

With the world of small business finance changing so quickly, who can stay on top of it all? Here at Credibly, we sift through hundreds of blogs, news alerts, and emerging Fintech trends every day, selecting the most important industry updates so you don’t have to. Here’s the financial news that caught our attention this week.

Here’s Why Bill Gates Was So Much Richer Than Steve Jobs by John Maxfield, The Motley Fool
“[Jobs] sold all but one of his original Apple shares in 1985, the year he was ousted from the company by then-CEO John Sculley and its board. Jobs’ 11% stake in Apple was worth somewhere in the neighborhood of $130 million at the time. And, for the record, this was considerably smaller than the 26% stake he emerged with after the first serious round of fundraising in 1977. At today’s price, those stakes would be worth more than $69 billion and $162 billion, respectively.”

People ask for free work all the time from some small-business owners. Here’s what it looks like [Video] by Brandon Weber, Upworthy
“Spec work is when someone asks a professional to do a job for ‘name recognition’ or ‘publicity,’ or in the hope that maybe someday they’ll actually get paid for their work. For folks who need the work or are just getting started, it’s a double-edged sword…If indeed it does end up generating “real” work, it can indeed generate other gigs and help make social connections. On the other hand, it’s unpaid work, and it often demeans the person doing it for free. Especially for younger people and those in certain professions such as web design and programming, it’s a common problem.”

4 Themes Powering the Fintech Revolution by Philip Brittan, Markets Media
“The intersection of finance and technology is a place alive with innovation.  Over 2015, the focus on this area has sharpened with politicians and business leaders alike championing the fintech revolution set to transform the financial services industry and bring it into the digital age.  But what’s driving this revolution?  I see four interlocking themes that are inspiring the changes we see in our industry and which will only continue to grow in importance and influence during 2016.”

Coinbase Just Debuted the First Bitcoin Debit Card in the US by Cade Metz, Wired
“At the end of the day, what we’re trying to do is make bitcoin easy to use,” says Coinbase vice president of business development and strategy Adam White. “We want to make it easy to buy and sell bitcoin, and we want to make it easy to spend. A mainstream debit card based on bitcoin is a key element.”

50 Steps Every Entrepreneur Must Take to Build a Business by Jayson Demers, Entrepreneur
“Starting a business is one of the most challenging and rewarding things you’ll ever do. The process is simpler than you might imagine, but to try to boil it down to five or 10 steps is an underestimation and an injustice. The following 50 steps to start a business are, for the most part, necessary — though some businesses may be able to skip several steps, and others may be able to accomplish them completely out of order.”

The 5 Most Expensive U.S. Cities to Start a Business by Jared Hecht, Inc.
“Everyone knows that it takes money to make money — but it turns out that exactly how much money it takes to start and maintain a successful business can depend largely on where your business operates. Using data from the latest reports by the Small Business & Entrepreneurship Council, Moody’s, Forbes, and CNBC, we’ve analyzed tax data, real estate prices, and labor and energy costs to identify the most expensive cities in America to start a business.”

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Have you checked out our small business education blog, In.Credibly?

Over at in.credibly.com we’re helping small businesses evaluate their working capital needs, source the right funding, and put those dollars to use more efficiently. This week, retail expert Nicole Leinbach Reyhle gave us four tips for how to make your Small Business Saturday a success and Detroit-based fitness entrepreneur Don Jaeger discussed how he built a successful business by focusing on his local community.