Latest news with #SmallBusiness
Fox News
a day ago
- Politics
- Fox News
Trump official fires back at Democratic senator who called historic flag 'Christian nationalist' symbol
EXCLUSIVE: Small Business Administration (SBA) Administrator Kelly Loeffler delivered a sharp rebuke to Democratic Sen. Ed Markey of Massachusetts on Tuesday after he accused the federal agency of raising a "Christian nationalist, White supremacist" flag earlier this month. The SBA flew a large American flag and a smaller "Appeal to Heaven" flag at its headquarters in Washington, D.C., on June 11 in celebration of Flag Day. The white flag featuring a green pine tree dates back to the Revolutionary War, and the words, "An appeal to Heaven," describe the hopes of colonists that God would deliver them from British tyranny. "Today at SBA's Flag Day Ceremony, we proudly raised a new AMERICAN MADE flag over our headquarters in Washington. It is a privilege to serve under its Stars and Stripes - on behalf of the 34 million small businesses who represent the best of America," Loeffler wrote in a tweet. Some media outlets characterized the flag as a symbol of controversy, saying it was carried by Jan. 6 rioters and had become associated with "Christian Nationalists" and election-deniers. Last year, liberal politicians and media outlets attempted to tie Supreme Court Justice Samuel Alito to the Capitol riot after the flag was spotted flying at his vacation home. Markey publicly rebuked Loeffler for flying the flag, calling its display "inappropriate at a federal government institution." "Our federal institutions must remain above ideological influence, especially when those ideologies undermine democracy and promote division. The SBA plays a critical role in supporting our nation's diverse collection of small businesses and fostering inclusive economic growth. It should not be associated with symbols that are increasingly viewed as partisan or extremist, or that promote hateful rhetoric," he wrote in an open letter dated June 25. In a letter obtained by Fox News Digital, Loeffler confronted the Democrat about his own flag controversy and defended the historic flag. "While I appreciate your letter, I am surprised at your passion over this specific matter given your typically nonchalant observation of Flag Day – which includes a history of leaving your own American Flag lying outside, on the ground, in violation of the U.S. Flag Code," she wrote. Loeffler assured him the agency would "never consider disrespecting" the United States or its service members "in this manner." She reminded the senator that flags' symbolic meanings are sometimes "subjective." "[W]hich you assuredly understand, given your own association with a flag that has been labeled by some individuals as a 'racist' emblem," she said, referencing the Massachusetts State Flag displayed outside Markey's office that has been criticized as a symbol of "slaughter" and "genocide" by some Native Americans. "Clearly, you do not agree with these actions or views, or else I strongly doubt you would continue to showcase the state flag at your offices," Loeffler's letter states. "Likewise, I do not agree with your characterization of the Appeal to Heaven flag – which has a rich history as an appeal to God to protect our emerging nation's liberty dating back to its first usage by General George Washington in the Revolutionary War. Its historical connotation – as one of our earliest emblems of freedom and independence – represents principles which the SBA wholeheartedly supports." Loeffler also mocked the Democrat for attacking a flag with historical significance while flying the pro-LGBTQ "Progress Pride" flag outside his office. She called the LGBTQ flag a "divisive" symbol "designed to honor only select subgroups," which is "contrary to our shared responsibility to serve every American," but affirmed his right to fly the flag. The Trump official concluded her letter by requesting the senator focus on topics that are of "serious" importance to American small businesses, such as passing tax cuts in President Donald Trump's "Big Beautiful Bill." The $3.3 trillion bill passed in the Senate Tuesday morning. Markey was accused of disrespecting the American flag in June 2020 after he posted a photo showing the flag sitting on his porch floor. His campaign said at the time that the flag was just there for a short time while the flag pole was being repaired after being damaged by high winds. Sen. Markey's office did not immediately return a request for comment.
Ya Biladi
a day ago
- Business
- Ya Biladi
Morocco's National AI Conference highlights urgent need for training
Training public and private sector actors in artificial intelligence (AI) tools is essential to fully harness the potential of these emerging technologies, ministers said on Tuesday in Salé during the opening plenary of the National AI Conference. As AI becomes a key driver of competitiveness, training has become a critical requirement for turning this opportunity into a catalyst for sustainable and inclusive growth, the speakers emphasized. Mohamed Saad Berrada, Minister of National Education, Preschool, and Sports, underscored the importance of mastering AI tools to improve educational system management and tackle pressing challenges, particularly in processing data related to students and teachers. He cited AI's potential to personalize curricula, support continuous teacher training, enhance language learning, and help reduce absenteeism and dropout rates. Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment, and Skills, stressed that AI is a transformative force for the job market. In light of this shift, he said the government's role is to integrate AI within a tailored legal and regulatory framework that unlocks the full potential of society. Leila Benali, Minister of Energy Transition and Sustainable Development, highlighted the vital link between energy and AI: «Without energy, there are no servers, no data centers, and no AI», she said. Benali noted that Morocco plans to double its capacity for producing non-conventional energy in under five years—a leap equivalent to the progress made over the past three decades. Chakib Alj, President of the General Confederation of Moroccan Enterprises (CGEM), pointed to the urgent need to effectively implement Morocco's national AI strategy. He emphasized the private sector's need for skilled engineers and digital talent, praising the 1337 coding school as a successful model for training tech-savvy youth—a model, he suggested, that should be scaled up to meet evolving market demands.
Entrepreneur
3 days ago
- Business
- Entrepreneur
Credit Uptick Masks Deeper Gaps in MSME Lending
Until lending models evolve to meet the real-world needs of these businesses, especially those outside metro hubs, India's small business engine will continue to run below capacity Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's micro, small and medium enterprises (MSMEs) are seeing an unprecedented surge in formal credit, yet the gap between potential and reality remains stark. The total outstanding portfolio in the MSME credit sector soared to INR 40.4 lakh crore by the end of March 2025, a 20.1 per cent jump from INR 33.6 lakh crore in March 2024 and a significant leap from INR 28.3 lakh crore in March 2023. But experts warn; the surge, while promising, isn't enough. Micro and small enterprises continue to anchor this sector. According to a report by CRIF High Mark, businesses with small-exposure accounted for 40 per cent of total outstanding credit as of March 2025, while micro-exposure businesses, those seeking smaller loan sizes, made up a dominant 81.1 per cent of loan volumes. Credit exposure for micro businesses grew 19.7 per cent year-on-year, and a staggering 45.3 per cent since March 2023. These gains are closely tied to the Udyam Assist Platform, which formalizes micro-enterprises and connects them to government schemes and collateral-free lending. As of June 2025, Udyam and Udyam Assist had registered nearly 6.5 crore enterprises, with 6.4 crore falling under the micro category. Yet this momentum masks deeper structural issues. "Credit plays an important role in the development and scaling of MSMEs by enabling them to invest in machinery, inventory, staff, and other expansions," said Mayur Modi, co-founder, co-CEO & COO of Moneyboxx Finance. "For many small businesses, especially in Tier II, Tier III cities and rural areas, access to timely and affordable credit is often the difference between stagnation and growth." Still, Modi doesn't see the current lending environment as adequate. "Traditional lending models often rely on collateral and formal documentation, which many of these businesses lack. Although NBFCs, fintechs, and co-lending models have improved outreach, challenges like limited risk appetite, high interest rates, and uneven digital penetration still hinder true financial inclusion," he said. The number of active MSME loans climbed to 211.8 lakh as of March 2024, a 23.7 per cent year-on-year rise. By March 2025, that growth had tapered, with just a 1.3 per cent increase, an early sign that institutional credit may be approaching a ceiling under the current lending architecture. Irem Sayeed, chief credit officer at UGRO Capital, sees this gap in stark numbers. "Despite the critical role MSMEs play, 75 per cent of them still rely on informal sources of credit. That reflects a 48 per cent credit gap in formal financing," she said. "Access to timely, affordable credit is often the only way these businesses can survive and scale—whether it's to fulfil larger orders, hire talent, or invest in operations." Public sector banks remain the primary source of credit for micro businesses, with a 45.7 per cent market share as of March 2025. Meanwhile, private banks dominate lending to Small and Medium Exposure businesses, commanding nearly 50 per cent of that segment. Non-banking financial companies (NBFCs), aided by the inclusion of bank credit to NBFCs for on-lending under the priority sector lending framework, have also expanded their footprint. However, the expansion of formal credit remains uneven. "The current lending ecosystem remains inadequate," Sayeed said. "While government schemes—like the INR 22,000 crore allocation to the Ministry of MSME, the enhancement of Mudra Tarun loans to INR 20 lakh, and credit guarantees under the RAMP and MSME Champions programs—have helped, they're not sufficient to fully bridge the gap." She called for a stronger push from the private sector to support underserved markets: "Inclusive, flexible, and tech-enabled lending models are critical to bringing these businesses into the formal fold and unlocking their true economic potential." While progress is evident in the rising portfolio and loan volumes, the formal system still misses a majority of MSMEs. Until lending models evolve to meet the real-world needs of these businesses, especially those outside metro hubs, India's small business engine will continue to run below capacity.
The Citizen
5 days ago
- Politics
- The Citizen
Municipalities accused of ignoring tensions between foreign-owned and local businesses
Deputy Minister Jane Sithole said her office had received complaints from street vendors in Bushbuckridge. Municipalities must investigate and take action on allegations that foreign nationals are preventing South Africans from starting businesses in certain areas. This is the view of Deputy Minister of Small Business Development Jane Sithole, who said her office had received calls from street vendors in Acornhoek, Bushbuckridge complaining about Pakistani nationals evicting them from their shops. Last week in Carletonville, spaza shop owners believed to be Pakistani nationals were accused of assaulting a woman and her husband for refusing to obey their order not to open a shop selling food near their stores. ALSO READ: Gauteng woman allegedly attacked by Pakistanis for opening shop near theirs In a social media video that went viral, a man believed to be a leader of Pakistani tuckshop owners conceded that the fight between his group and the family erupted after they continued with their plans of opening a store near his spaza shop. In an interview with The Citizen on Friday, Sithole urged municipalities, traditional leaders and other stakeholders not to ignore complaints from hawkers and spaza shop owners. She said there was a tendency for authorities not to attend to residents' complaints until it's too late. 'For now, I can't say who is wrong or right, but what I know is that people are complaining about this. We all know that chasing away street vendors is not the foreign nationals' job as only the municipality can do that. 'Hence I say the Bushbuckridge municipality and the other municipalities must take these complaints seriously and deal with them before the situation gets out of hand.' She said her department is investigating the matter raised by the hawkers in Bushbuckridge. 'We, as the leaders, collectively have a duty of making sure that confrontations between locals and foreign-owned businesses are averted. Most of the street vendors who contacted my office said they tried in vain to report the matter to the municipalities, traditional leaders and councillors.' ALSO READ: Illegal spaza shops 'still proliferate' despite warnings Sithole also urged the municipalities to erect stalls for hawkers to help them run their businesses, as some of them are breadwinners in their families. 'If you run a shop to make a living, please do not evict other people who are also trying to make a living.' Bushbuckridge municipality spokesperson Fhumulani Thovhakale was contacted regarding the Bushbuckridge matter, but she did not respond to the questions sent to her.
Washington Post
23-06-2025
- Business
- Washington Post
Democratic Arkansas state senator announces bid for governor
LITTLE ROCK, Ark. — Arkansas state Sen. Fred Love announced Monday he's seeking the Democratic nomination to challenge Republican Gov. Sarah Huckabee Sanders next year. Love, who represents a Little Rock district, said he was running 'because I believe Arkansas works best when it works for all of us.' Love has served in the state Senate since 2023 and before that had served six terms in the state House. As part of his announcement, Love said he will campaign on an economic development plan that included expanded access to startup capital, infrastructure, and grants for small businesses.
