The Heartbleed Bug, Tax Burdens on Small Businesses, and Economic Growth Improvements
Tuesday, April 15, 2014
Posted by: Arizona Small Business Association
A computer bug called "Heartbleed" is causing major security
headaches across the Internet due to its breakdown of a widely used encryption
technology called open SSL that is supposed to protect online accounts for a
variety of online communications and electronic commerce.
“It’s a major deal because open SSL is everywhere. People
say a lot of this is coming from Yahoo and other major companies, but it’s
really out there quite a bit. The best thing we can do now is just change
passwords and hope that everybody patches their SSL systems.” Greg Nickolson, Asset
Security researchers who uncovered the threat are
particularly worried about the lapse because it went undetected for more than
The Real Burden of Tax Season
It isn’t so much the amount of money a majority of small business owners must
hand over to Uncle Sam that makes tax day so difficult.
According to a new survey by the National Small Business
Association, more than half of small employers now say the administrative
burden and paperwork associated with tax season pose the greatest harm to their
businesses. On average, small business owners spend more than 40 hours — the
equivalent of a full workweek — filing their federal taxes every year. One
in four say they spend at least three full weeks on tax preparation.
Economic Growth Continues to Improve
Small businesses borrowed more money in January than they did a year earlier,
signaling continued growth in the economy. This despite cold weather in a
large part of the country being blamed for an economic slowdown.
The Thomson Reuters/PayNet Small Business Lending
Index, which measures the volume of financing to small companies, rose to 117.2
in January, up four percent from a year earlier.
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