Made in USA May Not Mean as Much
Under a Federal Trade Commission proposal, products no longer would have to be virtually all made with domestic labor and materials to carry the "Made in USA" label. The agency would allow the label on products as long as at least 75 percent of the manufacturing costs were incurred in the United States and the product is substantially transformed or assembled here. For years the minimum had been set at 98 percent.
Where to Turn for Business Help
Where do you turn for help in running your business? Most likely to magazines and newspapers (25 percent) and books and software programs (22 percent), according to a recent survey of small business firms by New England Business Service Inc. The next most popular sources are chambers of commerce and Rotary Clubs followed by personal experience, education and training, Small Business Administration, family and friends, other business owners and state and federal governments.
Luxury Is 'In'
Luxury consumption is up across the product spectrum, way ahead of mass merchandise gains. That's a finding of Tactical Retail Monitor, a New York-based retail magazine. Sales of luxury goods for the last quarter of '96 rose 31 percent as compared to just five percent for mass merchandise sales.
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Home Buyers Spend More in Six Months than Others Do in Five Years
Home buyers spend more on their homes in the first six months than established owners do in five years, according to Getting to Know You, a Westbury, NY, welcoming program. Other characteristics in the home buyer profile include:
- average age 38 for males; 37 for females
- average income $63,700 with 53 percent dual income status
- almost half are college graduates
- 70 percent are married
- average home buyer family has two children
- 70 percent of families have children five years old or younger
- more than a third are first-time home buyers
Insurance May Get Easier for Small Businesses
The National Federation of Independent Business (NFIB) is throwing its support behind efforts to allow small businesses to band together across state lines to buy health insurance. The Expanded Portability and Health Insurance Coverage Act is sponsored by Rep. Harris Fawell (R-Ill.). Presently small businesses pay 30 percent more than larger firms for similar benefits, and state mandates can add another 30 percent to premiums, NFIB says. It adds that two-thirds of uninsured employees work for small businesses, and those firms rank the cost of health insurance as their No. 1 problem.
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