MAE ANDERSON

AP Business Writer

FILE - A customer sits for a shoe shine at a shoe repair shop on Feb. 3, 2023, in New York. (AP Photo/Mary Altaffer, File)

Starting a small business is hard. Exiting can be even harder, but planning early is the key

Figuring out what to do with a small business when an owner is ready to retire can be difficult, but it’s best to have a plan well in advance of making a big change.

FILE - Ashley Crafton looks at tennis shoes at at Shoe Stop while shopping during Small Business Saturday in Wesleyan Park Plaza on Nov. 25, 2023, in Owensboro, Ky. (Greg Eans/The Messenger-Inquirer via AP, File)

Small businesses can capitalize on Small Business Saturday with some planning

Small Business Saturday — the Saturday after Thanksgiving — is coming up. But it doesn’t always translate to big sales for small businesses.

Veteran and business owner Jackson Dalton arranges protective gear at the Black Box Safety offices, Thursday, Nov. 7, 2024, in El Cajon, Calif. (AP Photo/Gregory Bull)

Veterans face challenges starting small businesses but there are plenty of resources to help

Many veterans who’ve started small businesses tell a similar story: Their military service prepared them mentally for the task, but they were at a disadvantage when it came to the financial part.

Small Business Administration-backed financing rose 7% to $56B in fiscal 2024

The Small Business Administration said it backed $56 billion in financing to small businesses and disaster-affected areas during the fiscal year ending Sept. 30, up 7% from a year prior.

FILE - Google logos are displayed when searched for Google in New York, Sept. 11, 2023. (AP Photo/Richard Drew, File)

Google ad change could affect millions of small businesses

Google is changing the way its Google Local Services ads work, which could affect millions of small businesses. Google Local Services ads run locally and are a big way that small businesses market their goods and services.

FILE - A boarded up business stands beside a deserted street in an evacuation zone, ahead of the arrival of Hurricane Milton, in Anna Maria, Fla., on Anna Maria Island, Oct. 8, 2024. (AP Photo/Rebecca Blackwell, File)

Business owners in disaster areas should be wary of possible scams

The devastation of Hurricanes Milton and Helene have opened the floodgates for people seeking disaster relief. Along with that comes the danger of fraud.

Businesses are seen in a debris field in the aftermath of Hurricane Helene, Wednesday, Oct. 2, 2024, in Chimney Rock Village, N.C. (AP Photo/Mike Stewart)

Small business disaster loan program is out of money until Congress approves new funds

The Small Business Administration has run out of money for its disaster assistance loans, delaying much needed relief for people applying for aid in the wake of the destruction caused by Hurricanes Helene and Milton.

Property owners who preferred not to be named assess damage to their home and business, which bears orange notices calling for demolition, after the passage of Hurricane Milton, on Manasota Key in Englewood, Fla., Sunday, Oct. 13, 2024. (AP Photo/Rebecca Blackwell)

After hurricanes, the business of rebuilding lives means navigating the insurance claims process

Now that the threat of Hurricanes Helene and Milton has receded, millions of homeowners and business-owners across Florida and the Southeastern U.S. are faced with traversing the often long and laborious process of using insurance to rebuild their lives.

FILE - People walk along Main Street in Deadwood, S.D., Sept. 20, 2023. (AP Photo/David Zalubowski, File)

Ahead of the presidential election, small biz owners are growing more uncertain about the economy

Small business owners are growing more uncertain about the economy ahead of the presidential election and are reining in spending, according to a new survey.

FILE - Jill Rice looks over the damage to her store caused by flooding from Hurricane Helene, Sept. 27, 2024, in Gulfport, Fla. (AP Photo/Mike Carlson, File)

Small business disaster loan program said to be in danger of running out of funds by end of month

The Small Business Administration could run out of money to fund disaster loans in the wake of Hurricane Helene’s devastation. As is typical after a disaster, the government is offering aid to small businesses that were in Helene’s path.

Cranes remain shut down at the Barbours Cut Container Terminal during the first day of a dockworkers strike on Tuesday, Oct. 1, 2024, in Houston. (AP Photo/Annie Mulligan)

The US could have seen shortages and higher retail prices if a dockworkers strike had dragged on

The union representing striking U.S. dockworkers has reached a deal to suspend the strike until Jan. 15 to provide time to negotiate a new contract.

FILE - Shoppers visit the Christmas Village in Philadelphia, Dec. 13, 2023. (AP Photo/Matt Rourke, File)

Marketing plans are key for small businesses ahead of a tough holiday shopping season

The holidays are the busiest time of year for many small retailers and other businesses. But the holidays this year could be particularly challenging.

Longshoremen strike at midnight at Bayport Terminal on Tuesday, Oct. 1, 2024, in Houston. (AP Photo/Annie Mulligan)

The US could see shortages and higher retail prices if a dockworkers strike drags on

U.S. ports from Maine to Texas are closed due to a strike by the union representing about 45,000 dockworkers.

Attorney General Merrick Garland, center, is flanked by Principal Deputy Assistant Attorney General Doha Mekki, left, and Principal Deputy Associate Attorney General Benjamin Mizer, right, as he speaks during a news conference at the Department of Justice, Tuesday, Sept. 24, 2024, in Washington. (AP Photo/Mark Schiefelbein)

Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets

The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market.

FILE - This Aug. 4, 2009, file photo shows the United States Chamber of Commerce building in Washington. (AP Photo/Manuel Balce Ceneta, File)

Almost all small businesses are using a software tool that is enabled by AI

More small firms say they’re harnessing AI to help their businesses. In a survey by The U.S. Chamber of Commerce and Teneo, nearly every small business — 98% — said they are utilizing a tool that is enabled by AI.

FILE - Tubes of toothpaste are displayed behind a locked, plastic barrier to prevent shoplifters from stealing the products at a store in the Manhattan borough of New York on January 31, 2024. (AP Photo/Ted Shaffrey)

How small businesses can recover from break-ins and theft

Break-ins and thefts can happen at any small business, no matter how tight the security. In the retail sector alone, more than half of small businesses said they had been victims of shoplifting in in the prior year, according to a 2022 survey by the U.S.

FILE - A hiring sign is displayed at a restaurant in Mount Prospect, Ill., Feb. 1, 2024. (AP Photo/Nam Y. Huh, File)

Labor costs remain high for small businesses, but a report shows wage growth is slowing for some

Employee wages are one of the biggest costs for small businesses. A new survey found some owners may be seeing a bit of relief when it comes to wages.

FILE - The Federal Reserve building in seen in Washington, May 22, 2020. (AP Photo/Patrick Semansky, File)

COVID-19 government disaster loans saved businesses, but saddled survivors with debt

In 2020 and 2021, COVID-19 Economic Injury Disaster Loans were a lifeline for small businesses. But now some small businesses are having trouble paying them off.

FILE - A sign stands outside the Federal Trade Commission building, Jan. 28, 2015, in Washington. (AP Photo/Alex Brandon, File)

Fake online reviews and testimonials are a headache for small businesses. They hope the FTC can help

Online reviews and testimonials are a key way that small businesses can attract new customers and boost sales of products. But fake reviews and testimonials can make it harder for people to trust what they read online and ultimately hurt businesses.

Adelita Valentine, owner of HairFreek Barbers, stands for a photo outside her barbershop in Los Angeles, Wednesday, Aug. 21, 2024. (AP Photo/Jae C. Hong)

High rents are forcing small businesses into tough choices like raising prices or changing location

While many costs have come down for small business, rents remain high and in some cases are still rising, forcing many owners into some uncomfortable decisions.

This cover image released by Mariner Books shows "The Slow Road North: How I Found Peace in an Improbable Country" by Rosie Schaap. (Mariner Books via AP)

Book Review: In ‘The Slow Road North,’ a New York writer finds solace in a Northern Irish town

Can what looks like running away from grief and sadness actually be a way to heal? In “The Slow Road North,” writer Rosie Schaap chronicles her circuitous route from spending most of her life as a dyed-in-the-wool New Yorker to finding herself settling down far away in a small town in Northern Irela

FILE - Small businesses line the boardwalk in Wildwood, N.J., on Aug. 9, 2024. (AP Photo/Matt Rourke, File)

New surveys show signs of optimism among small business owners

Small business owners overall are feeling positive about their business and achieving the goals they set for this year despite inflation and high labor costs, according to two new surveys.

Michelle Rutkowski, owner of Boardwalk Best and Five Mile Marketplace, hands a customer a receipt in Wildwood, N.J., Friday, Aug. 9, 2024. (AP Photo/Matt Rourke)

Spending at small businesses rose in July as consumers spend more on general merchandise

Consumers spent more at small businesses in July, a rebound fueled by strong sales of general merchandise and health and personal care products. The Fiserv Small Business Index rose one point to 141 after a four point decline in June.

Visitors stroll past arcades on the boardwalk in Wildwood, N.J., Friday, Aug. 9, 2024. (AP Photo/Matt Rourke)

Summer tourists flock to boardwalks and piers while sticking to their budgets

FILE - YouTube CEO Susan Wojcicki speaks during a conversation at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Wojcicki has died, according to her husband, Dennis Troper in a statement posted on social media late Friday, Aug. 9, 2024. (AP Photo/Markus Schreiber)

Susan Wojcicki, former YouTube CEO and longtime Google executive, has died at 56

Susan Wojcicki, the former YouTube chief executive officer and longtime Google executive, has died. Her husband, Dennis Troper, said in a statement posted on social media late Friday that Wojcicki, who was 56, has died after suffering with non small cell lung cancer for the past two years.

FILE - Brian Hoeppner, right, and Nicholas Hartnett, owner of Pure Power Solar, install a solar panel on the roof of a home in Frankfort, Ky., July 17, 2023. (AP Photo/Michael Conroy, File)

The Small Business Administration expands clean energy loan program

The Small Business Administration is looking to attract lenders to finance small businesses’ clean energy projects. It’s targeting lenders ranging from hyperlocal microlenders to nationally oriented financial institutions.

FILE - A workman measures a a piece of wood in Madison County, Miss., on March 16, 2021. Nearly one in three Americans earn money on the side in addition to working full time, a Bankrate survey found. (AP Photo/Rogelio V. Solis, File)

A ‘side hustle’ can be a way to try out a new business idea before jumping in all the way

A “side hustle” can be one way to try out a new business idea before taking a full-fledged jump. Nearly 1 in 3 Americans earn money on the side in addition to working full time, a Bankrate survey found.

Hiral Patel surveys the damage from Beryl to the Jamaica Village shopping center in Jamaica Beach, Texas, on July 8, 2024. The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July, surprising many business owners accustomed to seeing big storms arrive later in the summer. (Jennifer Reynolds/The Galveston County Daily News via AP, file)

As hurricane season begins, here’s how small businesses can prepare in advance of a storm

The hurricane season roared into the U.S. with Hurricane Beryl hitting Texas in early July. And NOAA is predicting an above-average storm season this year. So how can a small business be ready?

FILE - A shop holds a sidewalk sale on Feb. 10, 2023, in Providence, R.I. Small business sales growth slowed in June, 2024, as consumers took a pause on spending. (AP Photo/David Goldman, File)

Summer pause: Small business sales growth tapers in June as consumers take a breather on spending

Small business sales growth slowed in June as consumers took a pause on spending. That’s according to new data from financial services and payments provider Fiserv.

FILE - Retail spaces for lease are seen near Union Square in San Francisco, Feb. 27, 2024. Rent inflation is a pressure point for small businesses, according to new data from the Bank of America Institute. (AP Photo/Eric Risberg, File)

Rent inflation remains a pressure point for small businesses

Rent inflation remains a pressure point for small businesses. The Bank of America Institute found that average monthly rent payment growth for the bank’s small business clients rose 12% year-over-year in May.