Moneylines: News Briefs for Businesses

Index shows many businesses catching up on their debts

The National Association of Credit Management (NACM) keeps its Credit Managers’ Index to track the state of credit in the business sector. The results are based on a survey of about 1,000 trade credit managers contacted during the last 10 days of every month. In a report issued this past October, the index surpassed 50 for the first time since August 2008. That’s good news as, according to the NACM, it appears many companies are catching up on their debts. This could open up the credit markets a bit more in the coming months.

New IRS unit sets its sights on wealthy taxpayers

Many business owners and top executives fall into the higher income levels. Every high-net-worth individual should be advised that the IRS has created a new enforcement unit that focuses on the very wealthy. The agency’s Global High Wealth Industry Group, part of its large and medium-size business division, will look at arrangements such as partnerships and offshore trusts that may enable some wealthier taxpayers to unlawfully shelter income.

Wondering where the competition is coming from? Check a residential street

When you picture your competitors, you probably envision an office building. But, more and more, home-based businesses are appearing in today’s marketplace. Indeed, home-based businesses employ 13 million people, and 35% of these companies generate more than $125,000 in revenue while 8% generate over $500,000, according to a report entitled Homepreneurs: A Vital Economic Force published by Emergent Research. Thanks to easy-to-acquire technology and an uncertain job market, expect these so-dubbed “homepreneurs” to become increasingly competitive in the near future.

Facebook and other social networking sites are getting many companies’ attention

There was a time when suggesting a business create a Facebook page might have seemed like a joke. But the social networking giant reports having 1.4 million business “pages” at an average of 100 “fans” per page. Meanwhile, the professional-focused LinkedIn and concision-oriented Twitter continue to draw interest for their marketing and, obviously, networking potential. There are risks to entering this arena, but benefits (namely, heightened visibility) as well.

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