The Weekly Dispatch: Washington Insiders Cash in on SBA Programs
The Dispatch scours the Web every Monday to find must-read news that affects you and your business, 
and what it really means. Here's what I'm reading this week.
1. D.C. insiders can reap fortunes from federal programs for small businesses
The takeaway: A Washington Post investigation finds that Small Business Administration programs designed to help minority and disadvantaged entrepreneurs often end up funneling money into the pockets of D.C. insiders, and government officials rarely keep an eye on them. One Washington business owner managed to score more than $500 million in construction contracts from the Navy and the Pentagon through a program intended to help poor Alaska natives. Less than 1 percent of the money made it back to native-owned corporations. And worse, though SBA officials said they were aware of the issue, the government has taken no action against the firm. Attorneys for the company claim the allegations are false.
2. Small businesses say they're hiring -- and raising prices
The takeaway: Optimism among small business owners ticked up in February, as they reported new job creation and plans to hire more workers for the first time in three years, according to the National Federation of Independent Business. Though the news is good, the group said it was not the "surge" they had been hoping for.
3. Forget the Internet -- we want our Yellow Pages!
The takeaway: Small businesses in San Francisco are fighting a proposal to limit the delivery of Yellow Pages phone books to residents who sign up for the directories, or who accept them in person. The move is supposed to limit the number of phone books that are thrown away or recycled, but small firms say they are necessary for marketing.
4. Retailers expect to cash in on St. Patrick's Day
The takeaway: Believe it or not, more than half of Americans plan to celebrate the Irish holiday, according to a National Retail Federation survey. The results show that almost 102 million Americans say they will wear green on Thursday, while another 38 million plan to head to bars or restaurants, the highest number ever in the eight years the survey has been conducted. Though March tends to be a slow month for consumer spending, officials say businesses that promote the holiday should see a nice boost.
5. What has social media done for you lately?
The takeaway: So you've made the leap into social media, but how can you tell if the hours you're spending on Facebook and Twitter are paying off? According to Steve Strauss, author of "The Small Business Bible," you need to see some tangible results. Is traffic up (on the site or in-store)? Are you actually making more money? More friends and "likes" on your Facebook page are great, but have you met or built partnerships with more people?
6. Gas prices eating into the budgets of small businesses
The takeaway: For owners operating on tight margins, the surge in gas prices is a serious problem. But many would rather find a way to absorb the cost themselves and stay competitive instead of increasing their own prices. In February, the average cost for a gallon of gas in the U.S. was $3.12. On Friday, it hit $3.54.
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Image courtesy Flickr user borman818, CC 2.0