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News & Press: Arizona Business News Updates

Survey Shows Cash Flow Problems in Small Business

Tuesday, May 6, 2014   (0 Comments)
Posted by: Arizona Small Business Association
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Small Business Champions Honored at AZ Small Biz Con Today
A reminder, in celebration of Small Business Week, the U.S. Small Business Administration (SBA) is honoring Arizona entrepreneurs and small business champions for their contributions to the economy. The awards will be presented during the Arizona Small Business Association's (ASBA) annual awards luncheon today (Wednesday, May 7, 2014) at the Fairmont Scottsdale Princess Resort and Conference Center.


Brewer Signs Bill to Enable Lenders to Sue Deficient Builders
Starting January 2015 speculative home builders will no longer find refuge under Arizona’s anti-deficiency law.  On Tuesday, Gov. Jan Brewer signed House Bill 2018, which enables lenders to sue builders that undergo foreclosure for deficiency. Spec and custom builders were targeted because they can cause harm to the small-and medium-sized banks they have often turned to for financing.


New City-Specific Domains To Boost Local Business
Local businesses in major cities could get a boost from  the introduction of city-specific website domain names such as .nyc, .miami and .london, among others. Since January, Nearly 60 cities around the world have received  approval for their own domains so far.


The new .city names are expected to help local enterprises boost their web presence, improve their online search rankings and increase their sales by directing locals and tourists to relevant  nearby businesses. Addresses for .nyc, .miami, .vegas, .tokyo and .paris are slated to roll out next.


Survey Shows Cash Flow Problems in Small Business
A recent survey, conducted by the Corporation For Enterprise Development, shows that small businesses are often plagued by cash flow problems.  Program Manager for CFED, Lauren Williams, says that the survey tells an important story because those who start a small business often do so because they have a great idea or talent but face financial challenges that impede their success in the long-term.


“When we looked in to the cash flow challenge, the way we asked the question originally was, ‘What are your greatest financial challenges?’ and whether or not someone experienced cash flow difficulties at any point in the past year was a response that people could choose. We found that about 40 percent of respondants both to the online and phone survey were experiencing cash flow difficulties at some point.” –Lauren Williams, Entrepreneurship Program Manager,  Corporation For Enterprise Development


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