UPDATE 1-Sam's Club simplifies small business membership

NEW YORK, May 18 - Wal-Mart Stores Inc's Sam's Club warehouse division said on Monday that it is simplifying membership requirements for small businesses.

Under the new guidelines, it said small business owners can obtain a Sam's Club business membership by providing a current business card, letterhead or other documents used to manage a business, instead of providing more extensive documentation, like permits or licenses.

Shoppers pay an annual fee to shop in Sam's Club warehouses to get discounts on everything from printer paper to soda to bulk-sized packages of cereal.

The retailer has been trying to appeal to small business owners and operators, which have taken a hit amid the economic downturn. For instance, it is comparing prices in its clubs with those of competitors to show small businesses how they could save money by shopping at Sam' Club.

It said the simpler membership guidelines should appeal to home-based businesses, independent direct sales professionals and women- and minority-owned small businesses.