Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
It’s an incredible statistic: youth unemployment is at its highest level ever. With some countries reporting 30% youth unemployment rates, we are at risk of losing an entire generation of future entrepreneurs. But, I’ve got good news. This threat doesn’t have to be terminal.
In case you haven’t heard, there’s a tech revolution happening in New York. In the past two years, hundreds if not thousands of new tech companies have hatched in NYC. And many of them are growing rapidly and gobbling up office space. And they want that space to be cool.
To many, the Middle East seems an unlikely locale for flourishing entrepreneurialism, but it is increasingly producing startups and engineers changing lives in the MENA region – and the world.
I’m not sure I like the implications of the feds taking an equity position in small businesses. One could argue the government has no business sticking their noses into small business (at least not any more than they already do).
As a small business owner, you have a lot of responsibilities, particularly when it comes to Uncle Sam. You have the major responsibility of declaring the income and expenses of that business and paying taxes on the profit, and if you hire employees, you have to withhold taxes on their pay and pay your company’s share of employment taxes.
You hear it all the time: Small business is the engine of U.S. job creation, so they need tender loving care, like special tax breaks and other goodies. This narrative is wrong. Census Bureau data show that small businesses destroy almost as many jobs as they create. Now comes the Kauffman Foundation with an insightful report showing that not all small businesses are equal-opportunity job destroyers.