The Voice: Industry Moments – May 30, 2018
May 30, 2018
Dodd-Frank Rollback Will Reinvigorate Main Street
Who says Congress can’t get anything accomplished in an election year?
Last week, Congress passed long-overdue legislation to free community banks from the vice grip of the Dodd-Frank financial regulations that passed in 2010. This will increase access to credit for small businesses across the country, reinvigorating Main Streets and communities that — even in today’s strong economy — are still recovering from the Great Recession.
Source: The Hill
Detroit, St. Louis and Other Rust Belt Cities Look to Immigrants to Revive Their Economies
In Texas, a lot of effort and taxpayer money go into recruiting businesses. Should more go into recruiting immigrants?That sounds counterintuitive, even controversial, given that so many immigrants live here already and statewide leaders often take a hard line on immigration and border security. But it’s a strategy that’s been embraced in many Rust Belt cities.
Source: Dallas News
SBA Administrator’s Statement on Announcement of United Technologies Corporation and SBA Joint Initiative
Connecticut-based United Technologies today announced it will hire 35,000 people and make a $15 billion investment in the U.S. over the next five years. The company announced it will inject an additional $75 billion into communities nationwide through expenditures to its U.S. suppliers – $19 billion of which will go directly to small businesses. Linda McMahon, Administrator of the U.S. Small Business Administration, reacted to that announcement with the following statement about a new strategic initiative.
Source: PR Newswire
Microfinance Institutions’ Equity Investments See 40% Surge
Microfinance institutions (MFIs) have logged a nearly 40 per cent rise in equity investments during the last financial year. However, debt funding by banks, which registered around 20 per cent growth, remained confined to a top few MFIs.
Source: Business Standard
Millions of Dollars in Grants Available to Entice Technology Advancements
The U.S. Small Business Administration is seeking grant applications for funding aimed at boosting the development of technology from small businesses across the state.
All told, $3 million will be available and distributed in $125,000 grants nationwide to economic agencies and partners through the Federal and State Technology (FAST) Partnership Program.
Source: Burlington County Times
The Trump Economy is a Boon for Asian American Small Business Owners
During May, Americans pay tribute to Asian and Pacific Islanders that have helped shape the nation and are an instrumental ingredient to the future success of this melting pot. As Asian American and Pacific Islander Heritage Month comes to close, it’s a good time to reflect on how this community and their small businesses are faring amid the Trump Economy.
Source: Washington Examiner