Wednesday, December 2, 2009

“Entrepreneurship study ranks Pennsylvania 27th among states - Pittsburgh Business Times” plus 4 more

“Entrepreneurship study ranks Pennsylvania 27th among states - Pittsburgh Business Times” plus 4 more

Entrepreneurship study ranks Pennsylvania 27th among states - Pittsburgh Business Times

Posted: 02 Dec 2009 06:59 AM PST

Pennsylvania is fair-to-middling when it comes to being entrepreneur-friendly, according to a new report by the Small Business & Entrepreneurship Council.

The Keystone State ranked No. 27 in 2009, down two spots from its 2008 ranking.

The council's 14th annual "Small Business Survival Index," released Tuesday, considers 36 costs to small businesses that are imposed by or reported by the government. Most factors are taxes, including personal income taxes, corporate income taxes, property taxes, unemployment taxes and health insurance taxes.

Also factored in are energy costs and crime rate.

The top five most entrepreneur-friendly states are South Dakota, Nevada, Texas, Wyoming and Washington.

In the bottom five are Vermont, New York, California, New Jersey and the District of Columbia.

The Oakton, Va.-based Small Business & Entrepreneurship Council is a nonpartisan, nonprofit small-business and entrepreneurship advocacy group.

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Survey: Rural Midwest still in recession - AG Week

Posted: 02 Dec 2009 06:51 AM PST

The Jamestown Sun
Published: 12/02/2009

OMAHA, Neb. (AP) — Rural areas in middle America are being hit particularly hard by what could be another dip into recession for the region, according to a survey of business leaders and supply managers in nine Midwest and Plains states released Tuesday.

November's Business Conditions Index for the Mid-America region stood at 47.5, down from 51.8 in October and 56.2 in September. The index ranges from zero to 100, with any score above 50 suggesting economic growth in the next three to six months. Conversely, a score below 50 suggests a contracting economy over the next three to six months.

"The significant decline in farm income for 2009 continues to weigh on firms with strong ties to agriculture," said Creighton University economist Ernie Goss, who oversees the monthly survey. "For example, agriculture-equipment manufacturers have been hard hit by farmers' reluctance to purchase new equipment. This downturn has been particularly significant for rural areas of the region."

The Mid-America survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

The survey's employment index also dipped in November, to 46.1. from October's growth-neutral 50.

Goss said 41 percent of supply managers surveyed in November anticipate layoffs at their companies in the months ahead, and only 48 percent expect to receive pay increases in 2010.

"Over the past year, the region's employment level is down by 400,000, or roughly 3 percent of its jobs," Goss said. "Based on recent survey results, I expect the region to continue to lose jobs with unemployment rates rising slightly."

Survey respondents remained optimistic about the next six months — although not as confident as they were in October. The confidence index dipped to a still strong 61.1 from 65.4 in October.

The prices-paid index, which tracks the cost of raw materials and supplies, stayed above 50 for a sixth straight month, coming in at 68 in November, down slightly from 68.9 in October.

The survey's trade numbers remained weak. New export orders increased slightly to 50 from 49.3 in October, while imports dropped to 47.8 from 50.7 in October.

"The weaker U.S. dollar that is making imported goods more expensive is contributing to the decline in goods purchased from abroad and rising inflation pressures," Goss said.

The November inventory index slipped to 43.6 from 44.4 in October — the 14th straight month it has been below 50.

Other components of November's overall index:

— New orders decreased to 47.3 from 53.6 in October.

— Production or sales dropped to 46.7 from 53.5 in October.

— And delivery lead time fell to 53.9 from 57.9 in October.

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On the Net:

Creighton Economic Forecasting Group: http://www.outlook-economic.com

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Survey suggests Midwest still in recession's grip - KTTC

Posted: 01 Dec 2009 01:48 PM PST

OMAHA, Neb. (AP) -- A Midwest economist says a November survey of supply managers in nine Midwestern and Plains states suggests the possibility of another dip into recession.

The Mid-America Business Conditions Index dropped to its lowest level since May. It hit 47.5 last month, compared with 51.8 in October and 56.2 in September.

The index ranges from zero to 100, and any score above 50 suggests economic growth in the next three to six months.

Creighton University professor Ernie Goss, who oversees the survey, said in a report released Tuesday that a big drop in the region's farm income has hurt companies that have close ties to agriculture.

The Mid-America survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota.

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Survey: Stressed workers taking more sick days - Medford Mail Tribune

Posted: 02 Dec 2009 01:58 AM PST

INDIANAPOLIS — Stressed-out workers are calling in sick more often and turning to employee-assistance programs for help in greater numbers in the wake of layoffs at many firms, according to a new survey.

Benefits consultant Watson Wyatt Worldwide Inc. said nearly half of the 282 large companies that responded to a recent e-mail survey say they have seen more use of employee assistance programs, which typically offer counseling or stress management help. Twenty-two percent say they have seen an increase in unplanned absences.

Watson Wyatt conducted the survey in June and July with the National Business Group on Health, an association of large employers. They targeted firms with at least 1,000 employees.

The results are typical for a recession or tough economy, said Shelly Wolff of Watson Wyatt.

"There's a couple things that are classic when you have business downturns," she said. "You see sick leave use go up. We also are seeing an uptick in health care costs."

Wolff said sick day increases are often tied to job stress, which can trigger health problems. Companies that cut jobs frequently heap more work on remaining workers.

"When you're doing twice as much work, you reach a point where you just need to take a step away," she said.

The survey said 78 percent of employers cited "excessive work hours" as a leading cause of worker stress.

Health care costs often rise because workers feel compelled to use benefits while they still have them. That might lead to workers going ahead with medical procedures they have been putting off. "People just want to make sure they are taking care of themselves and their family members," Wolff said.

The survey focused on companies with as many as 25,000 employees, but some findings apply to smaller businesses too.

Many clients of the consulting firm FlashPoint have started offering workplace financial education programs because their employees have become more worried about finances and job security, said FlashPoint president Krista Skidmore. The Indianapolis-based company works with small and medium-sized companies and was not involved with the Watson Wyatt survey.

Skidmore said their clients are offering presentations on budgeting and saving to help reduce employee stress levels.

"I think they hope by providing these things, they'll see increased productivity," she said.


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Minority, women business owners hampered by lack of loans - HometownAnnapolis.com

Posted: 02 Dec 2009 04:50 AM PST

Bondon, who is black, helps run Chocolate Graphics, a five-person company that sells pieces of chocolate with personalized logos and images embossed on them. He is looking to hire new staff to handle shipping and customer service and ramp up efforts to sell products via the Web.

To expand his operation, Bondon is considering seeking a business loan and thinks his company is an "ideal candidate." But with a widespread credit crunch making loans in short supply, he has to think for a moment when asked if he expects to be approved.

"That's a good question," Bondon eventually said.

At the launch of the Minority Business University initiative Tuesday, Bondon joined other minority and women business owners, as well as members of the O'Malley administration, to express frustration at their inability to secure loans. Officials and business leaders say these businesses already face a myriad of challenges, and the lack of loans inhibits their ability to grow.

Business owners at the event argued that in spite of promises to open up lending, banks have enacted stricter policies and tightened purse strings. This lack of access is widespread - during a roundtable discussion with small business leaders, Gov. Martin O'Malley asked whether companies were able to get any credit.

The answer was a seemingly unanimous chorus of "No" from around the room.

Bank loans are vital for minority and women business owners to grow and, for many, represent the only option for funding, said Luwanda Jenkins, special secretary of the Governor's Office of Minority Affairs.

Jenkins acknowledges that the loan problems facing minority and women business owners are shared by the larger small business community. Yet, because these entrepreneurs often do not have the connections and other resources necessary to launch a successful business, Jenkins said that they are at a disadvantage.

"People do business with people they know, and so breaking through sometimes is a challenge," Jenkins said. "So I think that women-owned firms and minority-owned firms are, to a large extent, playing catch up."

Minority and women business owners are also often hampered by what Dawn Jackson calls the "college student syndrome." Jackson, a small business owner and the president of the Women Business Owners of Prince George's County, said that just as college students cannot find a job without experience (and cannot get experience without a job), these business owners are caught between not qualifying for loans but needing funding to grow and be more attractive to lenders.

"How can I get business if I don't have the capital behind me?" Jackson said. "It's cyclical."

To address these issues and the larger small business credit crunch, the O'Malley administration has begun working with banks and members of Congress to find ways to loosen the tap and let the funding flow.

"When it came to (the federal stimulus package), they had a term "shovel-ready," O'Malley said, in brief remarks to the gathering. "They shouldn't give any of these banks any more money unless they're deal-ready."

O'Malley said this problem has to be resolved at the federal level. In particular, he argued that Congress should clarify financial regulations and reinvest some money from the Troubled Asset Relief Program (TARP) into banks that are actually lending.

O'Malley voiced his support for the latter provision in a letter to the state Congressional delegation dated Nov. 5. In the letter, he said that this move "would both refocus the TARP to help Main Street and lead to more job creation."

Whatever the fix may be, O'Malley believes that action must be taken.

"We've got to figure this out because a lot of small businesses and family-owned businesses are dying on the vine as we wait for credit markets to rebound," O'Malley said.

Copyright © 2009 University of Maryland Philip Merrill College of Journalism

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