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Cook County tops nation for black-owned firms

Cook County had more African American-owned businesses in 2007 than any other county in the nation, with 83,733 located here, the U.S. Census Bureau reported last week. Nationally, African American-owned businesses grew at three times the national rate for all businesses between 2002 and 2007, the latest year for which figures are available, according to […]

CME Group opposes trading tax proposal

President Barack Obama’s budget proposal included a plan to raise $117 million through a futures trading tax that would support regulation by the Commodity Futures Trading Commission, according to news reports. But it was immediately met with opposition from Chicago-based CME Group, which said the tax would be self-defeating because it would “drive trading overseas or […]

Proposed federal budget curbs SBA funding

President Barack Obama’s proposed $3.7 trillion budget allocates fewer dollars for small business spending, CNNMoney reported. While stimulus programs bolstered small business lending in 2010, look for a return to more modest appropriations for the U.S. Small Business Administration and its network of Small Business Development Centers, the article said. The fiscal 2012 proposal includes […]

Five strategies for growing your business in a slow economy

By Jenny Schade, Guest Columnist The recession is over, but many small businesses continue to struggle to get back on their feet.  High unemployment rates and restricted cash flow have delayed their rebound, leading many to ask, “When is the economic recovery going to hit here?” Don’t wait for the economic recovery to knock on […]

News digest: Economy picks up, health reform sticks, 1099 measure repealed

Health care reform stands, while Senate repeals 1099 provision. The Senate defended health care reform Wednesday, averting a repeal while voting to remove a provision in the Patient Protection and Affordable Care Act that would require small businesses to file a 1099 tax form for every purchase of more than $600, the New York Times […]