Hopeful Chris Murphy, the U.S Congressman and Senate, attended a small business seminar at Meriden public library on Wednesday. The seminar was organized to discuss the possibilities of success for Connecticut businesses and the resources that are available to them.
Murphy opines that the future of Connecticut’s economy depends on the small business sector and without its growth Connecticut cannot succeed. He says that when businesses faced tough economic times, entrepreneurs did not know where to research and search for resources. Such events will help to throw light on the options open to small business owners.
In Connecticut, it is found that majority of employers are small business owners. Small businesses employ fifty percent of Connecticut’s workforce and new jobs are created by this sector. Small businesses are expected to add 80 to 90% of new jobs during the span of next 10 years in Connecticut.
Other panelists who spoke at the seminar are from different government, state and economic development agencies.
Department of Economic and Community Development (DECD)
Lindy Gold, DEDC spokeswoman says that State Jobs Bill offers resources like loans of $300,000, matching grants of $100,000, tax credits of $500/person per month for new hires and $900/person for people receiving disability or unemployment benefits.
Small Business Administration (SBA)
William Tierney, Relations Specialist at SBA stressed that it is necessary to be prepared and then Connecticut small-business owners can find support in the form of Government contracts, loans, business counseling and training.
Ann Harrison, explains that a program offers six months in wage reimbursement for new hires that are being made. It includes those living in areas that are largely hit by unemployment.
Community Economic Development Fund (CEDF)
Donna Wertenbach, President and CEO, of Meriden-based CEDF describes her agency as a nontraditional statewide program tailoring loans to individual customers. Everybody is eligible for a loan and can secure it from the CEDF.
New England Bank
Tony Mattioli, CEO New England Bank, stressed on the need to make a strong Business plan. Mattioli also asked business owners to start approaching community banks as they are willing to lend.
Women’s Business Development Council (WBDC)
Kim DeSousa, the spokesperson, said that WBDC is not a lender, but offers counseling, training and one-on-one consulting. It offers nine-week program to help businesses finalize a business plan and help clients complete loan application processes.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org