3 Things You Should Know About Small Business: September 18
NEW YORK (TheStreet) -- What's happening in small business today?
1. Obama is more small business friendly than Romney, survey says. According to a survey by the George Washington University School of Political Management and Thumbtack.com, 39% of business owners view President Obama as "most supportive" of small business, compared to 32% who named Romney as most supportive of their needs. The rest were undecided, the survey says.
The survey polled 6,145 small business owners, of which 32% identified themselves as Democrats, 29% as Republicans and 39% as independents, an article in The Business Journals reports.
2. What does it take to be "Made in the USA"? More companies are touting their American-made goods as consumers look to buy things that their friends or neighbors have a hand in making. But before a company can use the label of "Made in the USA" it must comply with a complex set of regulations, says CNNMoney.
The Federal Trade Commission has a "dizzying" 44-page rulebook laying out guidelines.
One challenge for the Made in the USA claim is the global supply chain, making it much harder to determine if a product was truly made domestically. A t-shirt, for instance, that was sewn in the U.S. but with fabric made overseas would not be considered USA-made.
If all parts are not from domestic manufacturing then companies can use alternative labels including "Made in USA from imported parts" or "Assembled in the USA," the article says. The distinctions may be minor but failure to comply could cost thousands in fines.
3. NASA is looking for proposals from small businesses. Small businesses looking to get into space technology now have a greater opportunity to do so. NASA is seeking proposals for its Small Business Innovation Research and Small Business Technology Transfer programs that will create new technologies for the agency's missions.