Economy

The Agenda for Illinois’ Entrepreneurs

Small Business Majority’s Illinois policy agenda outlines policies that advance and promote equitable pathways for entrepreneurship while ensuring small businesses are key to a thriving and inclusive economy. The state’s 1.2 million small businesses employ 2.5 million people (about 45% of the private workforce), with firms of fewer than 20 employees creating the largest net job gains.  Yet, Illinois small businesses continue to face setbacks stemming from the COVID-19 pandemic.

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Small businesses share concerns with recent banking closures, access to capital challenges

Publisher: 
Small Business Majority
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Date: 
Wednesday, May 3, 2023

As recent banking closures like the Silicon Valley Bank collapse shake the financial system, Small Business Majority surveyed small business owners and decision-makers around the country to understand their concerns about banking and access to credit.

Small Businesses Support the Nomination of Julie Su as Secretary of Labor

On April 7, Small Business Majority submitted a letter to the U.S. Committee on Health, Education, Labor & Pensions, urging the committee to confirm the nomination of Julie Su as the next Secretary of Labor. Deputy Secretary Su is collaborative, works well with small business groups, and will ensure that small businesses and their employees are truly supported and prioritized. 

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Small Business Majority Submits Comments to Federal Register on Department of Labor's Proposed Classification Rule

Today, John Arensmeyer submitted a comment letter for the Department of Labor's propsed rule on Employee or Independent Contractor Classification Under the Fair Labor Standards Act.

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2022 The Bottom Line Webinar Series

This fall, The Bottom Line webinar series has brought together U.S. Small Business Administration (SBA) officials, small business advocates and subject matter experts for discussions on how to address the economic challenges facing small businesses today. Through these webinars, members of the small business community have been connected to tools and resources for long-term, stable growth. 

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Small Business Majority supports the expansion of CalEITC and the YCTC

Small Business Majority writes in support of AB 2589, which would make the California Earned Income Tax Credit (CalEITC) and the Young Child Tax Credit (YCTC) more impactful and overall improve access to the California tax system for low to moderate income small business owners and employees. 

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Survey: Small businesses share current business concerns, challenges with federal relief programs

Publisher: 
Small Business Majority
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Date: 
Thursday, May 12, 2022

As entrepreneurs continue to navigate a number of challenges operating their businesses, Small Business Majority surveyed small business owners and managers nationwide to understand their current business conditions and how they may have benefited from federal relief programs. The survey found that nearly two-thirds (65%) of small businesses felt more optimistic about their business prospects for this year's second quarter. Despite this optimism, small businesses are facing a number of challenges, including inflation, supply chain disruptions and workforce shortages.

Small Business Majority Board Chair LaJuanna Russell testifies on barriers to entrepreneurship and highlights key legislative actions to address

On March 16, LaJuanna Russell, founder and president of Business Management Associates, Inc. (BMA) and the Chair of the Board of Directors and a member of the Small Business Council for Small Business Majority, testified before the U.S. Select House Committee on Economic Disparity and Fairness in Growth about the critical role of entrepreneurship as a pathway to long-term financial stability and growth for Americans, as well as to discuss barriers to starting and sustaining small businesses.

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Small Business Majority Board Chair LaJuanna Russell testifies on why eliminating the debt limit will create certainty for small businesses

On February 16, LaJuanna Russell, founder and president of Business Management Associates, Inc. (BMA) and the Chair of the Board of Directors and a member of the Small Business Council for Small Business Majority, testified before the U.S. House Committee on the Budget on a proposal to eliminate the U.S. debt limit, which would help mitigate financial risks and uncertainty for businesses of all sizes. 

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