Illinois Policymakers Should Support Small Businesses
The pandemic and COVID-19 mitigations began inflicting immense damage to small businesses in March 2020. Thousands of small businesses initially applied for Illinois Business Interruption Grants. While these grants helped some small businesses, approximately 80% of applicants were not awarded a grant.
Illinois then received over $8 billion in American Rescue Plan Act funds. However, only $250 million was allocated to the new grant program for struggling small businesses. These funds will likely be exhausted before many eligible businesses receive grants. With billions of ARPA funds remaining, policymakers should allocate an additional $300 million for grants to struggling small businesses.
Illinois politicians should finish what they started. They should replenish the Back to Business grant program and promptly get funds to struggling small businesses, some of whom have waited almost two years for a grant to help offset the damage caused by the pandemic and mitigations established to curb the spread of COVID-19.
Please fill out the call to action below and ask your legislators to support struggling small businesses. Thank you for supporting the small business community!
Occupational Licensing Reform
READ H.B 4012 Why Occupational Licensing Needs Reform Occupational licenses are issued to protect the public’s health, safety and welfare. The number of required licenses in Illinois has grown from a handful in the 1950’s to over 430 today. Policymakers across the political spectrum are challenging states to examine occupational licensing and its impact on…
Recommendation for Legislation on Minority Contracting
Illinois has failed to ensure that Black owned businesses procure their fair share of government contracts and revenue from government projects. Loopholes must be closed and reforms be made now! Read the SBAC’s recommendations for legislation to reform the process. Read the Recommendations here
SBAC and Fifth Third Bank Present: Post Election Commentary by Jeff Korzenik
A Post Election Commentary Presented by: Jeff Korzenik Managing Director, Chief Investment Strategist, Fifth Third Investment Management Group Discussion Points: Post-Election Policy and Market Implications Current State of the U.S. Economy: Differences and Similarities with Past Downturns The Impact of Monetary and Fiscal Intervention Health Risks and Unintended Consequences The Post Pandemic Economy: Disrupted Industries, Disrupted…
