States and Cities Help Small Businesses
While Washington is debating what it can do to help small businesses in the tight economy, States and local municipalities have stepped up their efforts to help struggling businesses.
San Fransisco has launched a new offensive to help stimulate employment, Jobs Now, which reimburses owners for 100% of some new hires. The $25 million campaign has helped restaurants, cafes, and even law firms. Employers have to pay for social security and for benefits, but the program obviously had huge incentives for businesses to hire.
In the Cleveland area, a small business counsel has implemented a program to help promote local businesses instead of larger chain companies and Internet companies. According to Dan Roman, the councils director, 68 cents to every dollar stays in the community when purchases are made locally.
Many laid off workers from the automobile industry in Michigan have turned to the Michigan Small Business and Technology Center where laid off workers are encouraged to enroll in the course where they come with a businesses idea. The program is geared to help them develop the idea and find them the correct funding for the business.
Connecticut has devoted $250,000 to helping small manufacturers in the airspace industry with loans ranging from $5,000 to $25,000.
North Carolina has diverted $600,000 in their BizBoost plan which is geared to help small businesses with 10 or less employees. The program offers financial consulting. The governor has expanded the plan to $2.4 million of State and Federal money to further add financial advisers to help small businesses with mange cash flow better.
The St. Louis County Economic counsel has devoted $5 million of a PNC Bank credit line to help business owners purchase land, equipment and machinery for businesses that do not possess large credit lines.
Florida has launched GrowFL last year, which is aimed at helping business establish new markets and maximize their use of social media. The program is for businesses with less than 10 employees and who have a gross annual income of over $1 million.
For the original NYTimes Article.
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