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3 Things You Should Know About Small Business: May 24

Written by: Laurie Kulikowski 05/24/12 - 11:38 AM EDT
Tickers in this article: BP

NEW YORK (MainStreet) -- What's happening in small business today?

1. Start a business with little capital. John Cerasani, author of Paid Training and a Lendio contributor, offers a short list of ways for entrepreneurs to start a business even if they don't have much money to invest.

  • Perhaps your business has a niche or specialty that can complement another existing company's services.
  • Start a business that offers a service that requires little overhead such as consulting.
  • Look through your network for a possible angel investor -- a financial backer who can help you get your business off the ground. There are also numerous websites and resources that can connect startups with angel investors.
  • Or try a crowdfunding site like Kickstarter or Chipin.com that have made themselves valuable in today's small business segment.

    • 2. Gulf Coast shrimping business still struggling. With the springtime comes the shrimping season, but the shrimp and crab businesses along the Gulf Coast continue to struggle as the second full year since BP's(BP) monstrous oil spill begins in earnest, according to the Associated Press.

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    Catches have been down, docks are idle and "anxiety is growing that the ill effects of the massive BP oil spill may be far from over," the AP says.

    Officials say it's too early to tell whether the BP oil spill is affecting the industry, but fishermen are blaming the spill as some longtime shrimpers leave the business altogether.

    The dour outlook isn't felt everywhere: even though the Gulf fishermen aren't hauling in as much seafood, prices have risen. As people are paying more for fish from the area than other sources, some fishermen are able to maintain their income from the disparity, the article says.