Moneylines: News Briefs for Businesses

SBA offers help with disaster preparedness

In many parts of the country, year end brings adverse weather — and, with it, the threat of a variety of disasters including water main breaks and roof collapses. Even in warm weather states, hurricanes, fires and floods could still strike. If your small business is underprepared when it comes to disaster planning, be advised that the SBA partnered with a firm called Agility Recovery Solutions earlier this year to launch the “Prepare My Business” program. It offers free tips on creating a disaster plan as well as webinars and other information. Check it out at http://www.preparemybusiness.org.

401(k) loans and hardship withdrawals are increasingly popular

If your company offers employees a 401(k) plan with a loan component, you may want to reiterate the rules and risks of such loans. They’ve become increasingly popular. Citing data released this past August, Fidelity Investments revealed that 11% of total active 401(k) participants initiated the loan process in 2010, a 2% rise from the previous year’s figure.

Is your company ready to head overseas?

The idea of entering the global marketplace may seem daunting. But, as the economy continues to be unsettling at best, many business owners are turning to overseas markets. The Export-Import Bank reported that small business loan authorizations in the first half of its fiscal year rose from $1.7 billion during that period in 2009 to $2.3 billion this year. Another factor inspiring companies to head overseas may be the federal government’s National Export Initiative, issued this past March. It seeks to strengthen trade laws and otherwise “improve conditions that directly affect the private sector’s ability to export.” Go to http://www.export.gov for more info.

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