Small business news was dominated by doom and gloom headlines this week, but every story has a silver lining.
Disaster recovery continues: Thousands of small businesses in New York and New Jersey continue to struggle through superstorm Sandy recovery efforts. Newsday reported that local officials believe that unless many businesses get help, they will close their doors.
The good news? Newsday reports that New York FEMA coordinator Michael Byrne said the agency is open to extending the deadline for disaster loan applications past December 31. Byrne told Newsday that FEMA and SBA want to hear from business owners in need of the deadline extension.
Fiscal cliff fears: The biggest fiscal cliff threat to small businesses is the little-talked-about end of the payroll tax holiday, which would raise the current 4.2 percent payroll tax to 6.2 percent--effectively a 2 percent paycut on a $113,000 salary, reports CNN Money:
Read More »from Disaster recovery, fiscal cliff fears, and hiring slump
"Ending the payroll tax holiday would take away $80 a month from someone