Insurance agents in Richmond who help businesses select plans say they are hearing from every one of their clients as the recession forces business owners to find savings.
Businesses usually sprout during recessions – when laid-off workers give entrepreneurship serious thought – but the volume of new businesses in Richmond seems to be declining. Richmond has issued 111 business licenses this year, a 29 percent drop from the first six weeks of 2008, when the city issued 157 licenses. Entrepreneurs are opening the… Read more »
A local husband-and-wife design team will soon have their product sold through direct-response TV and at major retailers nationwide through a licensing agreement with Massachusetts-based distributor Harvest Direct. Chris and Kat Costello, owners of Green Alley LLC, started developing the “zpr bag” in 2007. The product is a customizable handbag designed for teenage girls. Z-P-R… Read more »
This might just be the year of the small business, but buckle up: Things will likely get worse before they get better. Economists often say that each high-paying job at a manufacturing plant or corporate headquarters creates three other jobs. After all, someone has to do the dry cleaning and cook the restaurant meals. So… Read more »
More people might be starting businesses now that major employers are laying off workers or curtailing raises and career advancement. The Virginia Department of Business Assistance reported that activity for the Business One-Stop website rose 30 percent in October compared with September. Business One Stop helps potential business owners learn how to launch ventures in… Read more »
Governor Tim Kaine has authorized the state to guarantee a total of $3 million in existing small business loans for Virginia businesses. The Virginia Small Business Financing Authority quickly approved a new program to work with banks and guarantee existing loans of up to $500,000 on the condition that banks loosen some of the terms… Read more »
The number of delinquent Small Business Administration-insured loans in Virginia is rising. Last week BizSense reported that bankruptcy filings for businesses and individuals is rising in Richmond. The SBA could not provide statistics in time for that story, but we have them now for the state of Virginia. Fiscal Year: $ of purchased loans #… Read more »