Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
Startups’ Secret: More Are Facing Patent Suits
“A 2012 study from PricewaterhouseCoopers found that the tech industry experienced significant increases in “identified” decisions in patent cases from 2006 through 2011. And according to a study of tech startups and patent suits published last year by Colleen Chien, assistant professor at Santa Clara University School of Law, companies with less than $100 million in annual revenue accounted for at least 66% of unique defendants in such lawsuits, and at least 55% of those defendants had revenue of $10 million a year or less.” (Wall Street Journal)
Small Business Loan Process Could Ease
“The Small Business Administration is hoping to make it easier for small businesses to secure loans. Earlier this year, the SBA proposed several changes to its loan programs designed to “expand program accessibility for more small businesses and streamline the paperwork burden,” says Jeanne Hulit, associate administrator for capital access at the SBA.” (CFO)
How Entrepreneurs Qualify for Funding from Banks
“A common question I get is “How do I get a bank loan to fund my startup?” The default answer is that it probably won’t happen, because most banks just don’t make bank loans to startups. The failure rate is just too high, and startups typically don’t have the assets or revenue stream to back up the loan. That’s why Angel investors are so sought after by entrepreneurs.” (Business Insider)
Lili Balfour: Three Ways Entrepreneurs Can Fail Smarter
“There is no sure-fire way to prevent failure, but one can always fail smarter. Entrepreneurs fail smarter by understanding the basics of their term sheet, understanding how much capital is needed, and having an exit plan.”(Wall Street Journal)
Why Startups Shouldn’t Have a VC Mentality
“If you have a business (or are thinking of starting one) that can only achieve financial security through investor fundraising, you do not have a good business. Worse than that is a good product/service idea that relies on investor funding to make it work. That’s a bad business model.” (NBC Chicago)
The Top 5 Small Business Mistakes
“Nearly half of all new businesses don’t make it past their fifth anniversary, according to the U.S. Small Business Administration. That makes it crucial for mom and pops to get basic strategies right from the get-go. Even though economists tell us the recession has been over for four years, banks remain as stingy with business loans as ever. There’s little room for error.” (CNBC)
How startups can get cheap office space
“If you’re running your company from your kitchen table, you probably wish you could get out of the house and find more professional digs. But lining up space in an office building can be pricey.” (CNN Money)
Connect with YFS Magazine on Twitter.
Did you enjoy this article? If so, subscribe to YFS Magazine and never miss an update. Don’t forget to make our friendship official and join Young, Fabulous & Self-Employed entrepreneurs on Facebook.
Photo: Club Monaco
© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.