S.7350 (Kaplan) / A.10119 (Stirpe)

STAFF CONTACT :

Vice President
518-694-4460

BILL

S.7350 (Kaplan) / A.10119 (Stirpe)

SUBJECT

Publication of Available Programs to Assist Small Businesses on Empire State Development Corporation Website
Support

The Business Council of New York State supports S.7350 (Kaplan) / A.10119 (Stirpe) which directs the Empire State Development Corporation to publish and maintain a current list of programs that aid small businesses.

Often small communities are characterized by their ‘main streets,’ central thoroughfares populated by many small, eclectic, locally-owned businesses. These businesses reflect local culture and contribute to the vitality of countless cities, towns, and villages across New York State. Local owners face myriad challenges, from employment to tax policy to competition from big-box stores, and typically are operating on very thin margins. A healthy small business community creates prosperity that raises all ships and is in the best interests of everyone in New York State.    

Fundamentally, this legislation is designed to connect businesses to resources they need to survive, which is particularly important at a time that countless businesses are struggling to adapt to the changed landscape resulting from the COVID-19/novel coronavirus pandemic. The information made available by this bill, particularly concerning business development and financial assistance programs offered by the state, can help mitigate otherwise undesirable outcomes – closed businesses, lost jobs, and diminished local tax revenue. The Partnership for New York City recently released a report that states most small businesses have less than three months’ worth of cash reserves and that one third of them will not have the necessary means needed to reopen after the worst of the pandemic is over. 

It would not only establish a veritable clearinghouse of available programs, but also provide detailed descriptions and contact information to streamline access to the information necessary for businesses in need of assistance. These programs will help promote local economic development, maintain and grow jobs, and support the lifeblood of local communities.  

The impact the coronavirus has had on small businesses is unquantifiable. This bill would provide a tool used to navigate trying times by ensuring that available resources are chronicled and easily accessible.  In the end, this could mean the difference between a business remaining open or being forced to close. 

For these reasons, The Business Council supports approval of S.7350 (Kaplan) / A.10119 (Stirpe).