Credibly Financial News Roundup for the Week of August 3rd, 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:
Meet the 86%: This Is Why Most Etsy Sellers Are Women by Valentina Zarya, Fortune
“At Etsy, women rule. According to the company’s second annual seller report, 86% of Etsy sellers are female. That’s a dramatic departure from overall trend: Only about a third of U.S. small businesses are women-owned, according a report from the Institute of Women’s Policy Research.”
The 10 Top Small Cities to Start a New Business by Lydia Dishman, Fast Company
“According to a new study by consumer finance site NerdWallet, smaller cities provide just as much fuel for startups as larger metro areas. Crunching Census data on 463 U.S. cities with populations between 50,000 and 100,000 revealed that would-be business owners have options and resources in places from Alpharetta, Georgia, to Corvallis, Oregon, that aren’t necessarily on everyone’s radar.”
50 Cent Bankruptcy: By the Numbers by Katy Stech, Wall Street Journal
“Fresh court documents just put a spotlight on bankrupt rapper 50 Cent’s personal finances, including details about his income, his business investments and his spending habits. On Monday, his lawyers filed 56 pages of financial information that’s required as part of the process to getting a fresh start through bankruptcy…Mr. Jackson said he pays $3,000 a month for meals and entertainment, $3,000 on wardrobe, $2,000 on travel and $1,000 on personal grooming. His biggest monthly expense is his $17,400 mortgage, and he also spends $9,000 on ‘security and protection.'”
Challenges Expected to Pittsburgh Paid Sick Leave Law by Robert Zullo, Pittsburgh Post-Gazette
“Brushing aside concerns about the speed of the legislation and the limits of its own authority, Pittsburgh City Council overwhelmingly approved a law Monday that will require all employers within the city borders to provide paid sick leave, part of a nationwide push to extend the benefit to millions who lack it.”
U.S. Small-Business Borrowing Surges in June by Ann Saphir, Reuters
“Borrowing by U.S. small businesses jumped to a record in June, an index released Wednesday showed, signaling tighter labor conditions that may help build the case for the Federal Reserve’s first interest-rate increase in nearly a decade.”
The UK Is Beating the US in the Peer-to-Peer Alternative Lending Market — Here’s Why by Evan Bakker, Business Insider
“The UK generated nearly $2.3 billion in peer-to-u(P2P) loans in 2014, making its alternative lending market the largest in the world on a per capita basis. To illustrate, 72% more lending volume is transacted in the UK than in the US per person.”
Have you checked out our new 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 we feature a great article on October’s EMV deadline, which is creating headaches for millions of U.S. retailers.