Latest news with #SBA
Forbes
a day ago
- Business
- Forbes
Trump Tariffs Cool Small Business Dealmaking
Getting a small business deal done last quarter took more number crunching than usual. getty Small businesses are still changing hands, but buyers became more cautious in the second quarter. According to BizBuySell, an online marketplace for buying and selling businesses, the number of transactions declined about 4% compared to the same period last year. Buyers are concerned about higher interest rates, tougher loan rules, and overall economic stability. With fewer businesses selling, the median sale price also fell by 6% on a year-over-year basis to $352,000. Still, BizBuySell says the pool of buyers is still growing as more people look to escape corporate life, viewing small business ownership as a path toward greater autonomy. Nearly half of all buyers last quarter claimed to be 'corporate refugees,' up from 36% last year. Despite this steady buyer interest, the time it took to sell a business jumped. Businesses stayed on the market for about 12 days longer this past quarter, reflecting heightened caution and more thorough due diligence on the part of buyers. That almost certainly has to do with the Trump administration's tariff push, which began to take shape on so-called 'Liberation Day' on April 2nd. Further complicating matters are the new, tighter lending guidelines from the Small Business Administration that went into effect in June. Obtaining SBA loans, a common way to finance small business acquisitions, has become more difficult. Recent SBA rules require increased documentation, tighter scrutiny of valuations, and a minimum buyer equity contribution of 10% (a seller note can now only cover half of this requirement). These changes particularly impact first-time buyers who may struggle to meet the higher equity requirements. Still, certain sectors remain robust. Service-oriented businesses, including healthcare, construction, and home services, continue to attract buyers due to reliable, and, possibly, tariff-resistant earnings. Not all sectors, though, are following the same healthy trend. Manufacturing businesses saw a 28% decline in transaction volume and a 7% drop in median sale price. That may note bode well for the Trump administration's push to bring manufacturing jobs back to the U.S. Given all the current economic and tariff uncertainty, the numbers in this report are hardly alarming. But the small business market often lags behind broader economic shifts, and it may take some time to catch up. Whether it's a perfect comparison or not, the stock market has already shaken off its tariff jitters and is back at all-time highs. With further clarity on tariffs, and, perhaps, a coming interest rate cut from the Federal Reserve, small business valuations and deals may see their own bounceback in the third quarter. More from Forbes Forbes Trump's Small Business Administration Is Making It Harder To Ditch The Corporate Grind By Brandon Kochkodin Forbes Inside America's Top Small Business Bank By Brandon Kochkodin Forbes Small Business Earnings Jump By 75% Since January. But There's A Catch By Brandon Kochkodin Forbes $183 Billion Is Up For Grabs, If Small Businesses Can Read The Fine Print By Brandon Kochkodin
Business Upturn
a day ago
- Business
- Business Upturn
William Briggs Sworn in as Deputy Administrator of the U.S. Small Business Administration
By GlobeNewswire Published on July 23, 2025, 20:47 IST WASHINGTON, July 23, 2025 (GLOBE NEWSWIRE) — Today, following his confirmation by the U.S. Senate on July 9, 2025, William (Bill) Briggs was sworn in as the Deputy Administrator of the U.S. Small Business Administration at the SBA headquarters in Washington, D.C. 'I'm pleased to welcome Deputy Administrator Bill Briggs to the SBA as part of an incredible leadership team that is hard at work delivering results for America's job creators,' said SBA Administrator Kelly Loeffler. 'With a strong record of service at the agency and in the private sector, Bill will be a tremendous asset as we work to restore the SBA as an engine for opportunity and economic growth – and advance President Trump's agenda that will Make Main Street Great Again.' 'It's an honor to be back at the SBA and to continue my work serving America's small businesses,' said SBA Deputy Administrator Bill Briggs. 'Under the leadership of President Trump and Administrator Loeffler, our job creators are poised for a historic era of growth, innovation and prosperity. I'm excited to deliver that comeback to Main Streets across America – by empowering them with the capital, counseling, and contracting opportunities to thrive.' Briggs previously served as Acting Associate Administrator for SBA's Office of Capital Access during the first Trump Administration, where he played a leading role in the development and implementation of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) during the COVID-19 pandemic. A Texas native and small business owner, Briggs brings over two decades of private sector experience to the role. # # # About the U.S. Small Business Administration The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Express Tribune
2 days ago
- Sport
- Express Tribune
SSWMB Basketball tourney begins
Girls and boys basketball teams are seen with chief guest Maryam Tariq and KBA officials on the first day of SSWMB Inter-Academy Girls and Boys Basketball Tournament at Abdul Nasir courts on Tuesday. PHOTO: KBA Fatima Jinnah Academy defeated Ruth Pfau Academy by 10-5 In the opening girls' match of the SSWMB Inter-Academy Girls and Boys Basketball Tournament which was inaugurated in a colorful ceremony by organisation's General Manager Maryam Tariq. For the winning team, Angel and Umema scored 4 points each while Ghina added two points. From the runner-up side, Aqeeka scored 3 points and Fabiha Tariq and Yasra contributed 1 point each. The event, jointly organised by the Karachi Basketball Association (KBA) and Firdous Ittehad, was graced by distinguished guests including Ghulam Muhammad Khan, Muhammad Ikhlaq, Rotarian Sadaf Jahan, SBA's SVC Younus Fureshi, KBA Secretary Zahid Malik, SBA Secretary Amir Sharif, and Zaeema Khatoon among others. In the second girls' match, Rana Liaquat Ali Academy edged out Benazir Bhutto Shaheed Academy in a thrilling contest, winning 7-6. Amina Ashraf led the scoring for the winners with 5 points, while Aniqa and Ayeza scored one each. For the runner-up team, Dania, Fatima Idrees, and Simran each scored 2 points. In the boys' match, Javed Memon Academy defeated Mohammad Khan Academy with a final score of 32-21. Haris Shahid was the top scorer with 14 points, followed by Hasan Iqbal with 8 and Raza Rafiq with 7. For the opposing team, Hasan Ali scored 12, Yash Kumar 5, and Abdul Rafi 4 points.
Gizmodo
3 days ago
- Business
- Gizmodo
Elon Musk-Founded Brain Implant Startup Says It's a ‘Disadvantaged' Business Despite Being Worth $9 Billion
Elon Musk, the rightwing culture warrior waging a 'civilization-saving' battle against the 'woke mind virus,' apparently isn't above taking advantage of diversity, equity, and inclusion (DEI) programs when it serves his business purposes. Neuralink, the $9 billion brain implant startup that Musk founded, recently characterized itself as a 'small disadvantaged business' in a federal filing with the Small Business Administration. The SBA website notes that Neuralink attested in its filings that it is a 'Self-Certified Small Disadvantaged Business.' According to the SBA, businesses can qualify for this designation if the company is '51% or more owned and controlled by one or more disadvantaged persons.' The firm must also 'be small, according to SBA's size standards,' the site states. According to the code of federal regulations, socially disadvantaged people are defined thusly: …those who have been subjected to racial or ethnic prejudice or cultural bias within American society because of their identities as members of groups and without regard to their individual qualities. The social disadvantage must stem from circumstances beyond their control. The filing was first spotted by MuskWatch, a Substack focused on the Tesla billionaire, which accuses the company of having 'falsified federal forms.' MuskWatch published an excerpt from a form that it said was filed by Neuralink on April 24, in which the company checked the box affirming that it is a small disadvantaged business as defined in the code. The blog points out that the SDB designation can also only be legally claimed by companies owned by 'economically disadvantaged individuals,' and that federal regulations state that 'individuals with a net worth exceeding $850,000, excluding the value of their primary residence,' do not qualify as 'economically disadvantaged individuals.' Musk is obviously worth a lot more than that. It is certainly difficult to understand what disadvantaged group Neuralink could claim maintains ownership over the company. The structure of Neuralink's ownership isn't publicly available, but Musk held a majority stake in the company in 2019. The startup has since engaged in raising more funds, but primarily from Silicon Valley's lily white venture capital community. Gizmodo reached out to the firm for more information. The news is amusing and infuriating because two of the things Musk enjoys whining about most are the societal scourge of DEI and people who ask for help from the government. Now, his own company appears to be claiming it should get a federal handout because it is socially and economically disadvantaged. Of course, federal handouts have been the lifeblood of Tesla and SpaceX for many years. Since it was founded in 2016, Neuralink has sought to use neural implants and experimental science to usher in a new era of computer-to-brain interfacing. The startup received FDA approval for human clinical trials in May of 2023. Last year, the company streamed an interview with a quadriplegic who used Neuralink's brain implant to play video games. Prior to human testing, Neuralink trialed its implants on animals. While many of those test subjects are still alive today, many ended up getting euthanized. Some, allegedly, died quite horribly, leading to accusations of 'grotesque' animal abuse and a lawsuit from a physicians' group.
Time of India
4 days ago
- Business
- Time of India
How Elon Musk's Neuralink calling itself ‘small disadvantaged business' may be a ‘problem' for the brain chip company
Elon Musk 's health tech startup Neuralink has labelled itself as a "small disadvantaged business.' This comes shortly before a financing round valued the company at $9 billion. Despite being owned by the richest man in the world, the brain chip implant company said this in a federal filing with the US Small Business Administration (SBA) earlier this year. This designation is typically given to businesses that are at least 51% owned and controlled by certain disadvantaged individuals. The Department of Justice has previously issued fines to companies for making false claims about their Small Disadvantaged Business (SDB) status, a NBC report claims, underscoring the serious nature of such declarations. However, no public record of Neuralink winning government contracts using this status has been found. Nuralink's SDB filing in April was first reported by the Substack-based news site MuskWatch. Which companies according to SBA can get an SDB status As per the SBA's website, an SDB designation indicates that a company is at least 51% owned and operated by one or more individuals who are both 'socially disadvantaged and economically disadvantaged.' The website also notes that holding an SDB designation may allow a business to 'gain preferential access to federal procurement opportunities." The SBA allows companies to self-certify this status. Despite Neuralink's net value and Musk being a majority owner, the company checked the SDB box, the report claims. The filing listed Jared Birchall , a company executive and head of Musk's family office, as the official contact. Birchall has yet to share a officla comment on the same, the report adds. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Neuralink is developing a brain-computer interface to help people with severe paralysis control devices using brain signals. The company recently raised $650 million at a $9 billion valuation, with backing from investors like ARK Invest and Founders Fund. The funding will support expanding patient access and creating new devices to strengthen the link between humans and AI. Boat Smart Ring Active Plus: DON'T BUY A SMARTWATCH AI Masterclass for Students. Upskill Young Ones Today!– Join Now
