Weekly 5: Despite sequester, Congress aims to protect waterways
Christopher Gerber (CGerber@BoatingIndustry.com)
March 26, 2013
Filed under Weekly 5
The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. Congress looks to prevent sequester cuts for protectors of ports and waterways
Democrats and Republicans on the Senate Environment and Public Works Committee unanimously approved a bill prohibiting congress from cutting the budget of the Army Corps of Engineers without a three-fifths vote by lawmakers.
The move has been deemed controversial by groups who feel Congress is putting the Army Corps of Engineers above other groups affected by sequester cuts.
2. Why small business online ads are few and far between
Marketing Pilgrim took a look at why online ads posted by small businesses are so uncommon, while brands like Gap are all over Google and social media. The potential is there, but for most small business owners, it comes down to habit, return on effort and a lack of affordable online options.
3. Small business lending most common with big banks, but down overall
According to a report by SNL Financial, small business loans in 2012 decreased by 2 percent when compared to the prior year. But the big banks, or those with more than $10 billion assets, continue to grow its market share of small-business debt, of which it owned 45 percent in 2012. Wells Fargo was the largest issuer of small business loans.
4. Underutilized healthcare incentive
Certain small business employers with less than 25 full-time employees qualify for a 50-percent reduction in the cost of providing health coverage, providing they participate in the exchanges set up by states. Certainly not a bad deal, but Bloomberg Businessweek reports a large number of owners are either unaware or confused by the discount.
5. Social media cues from one of the world’s most successful business owners
Along with his employees, multibillionaire and Virgin Group Founder Richard Branson uses social media beautifully to propel his airline. And Hootsuite weighed in on this Business Insider article explaining why they have one of the highest growth rates on both Twitter and Facebook.