Economy

Small Business Majority Supports Human Infrastructure Plan

Today, CEO John Arensmeyer shared a letter with congressional leadership outlining key policy recommendations that must be included in the forthcoming human infrastructure package. These investments are critical because small businesses need more support to ensure a successful long-term recovery from the pandemic, and to promote a more resilient workforce and economy.

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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 testities 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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Protect small business borrowers by ensuring transparent and fair lending practices

Currently the federal Truth in Lending Act (TILA) requires that consumer creditors disclose critical financing information, including annual percentage rate (APR), in a clear and comparable format. However, Congress has yet to extend these disclosure requirements to small business loans and other credit products, which means small businesses are vulnerable to irresponsible lenders. As small businesses recover from the pandemic, it should go without saying that transparent lending shouldn’t be up for debate.

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Small Business Majority supports economic equity in California state contracting and procurement

On June 10, 2021 Small Business Majority wrote to California State Senator Richard Roth in support of AB 915, which would ensure that a fair share of procurement spending is directed and dedicated to small and minority-owned small businesses. 

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Small Business Majority supports lowering retainage caps in Colorado

Small Business Majority submitted testimony to the Colorado Senate Business Labor & Technology Committee in suport of House Bill 21-1167, which would cap retainage for all public and private entities at 5% and allow small construction and subcontract firms to be more competitive against larger firms.

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Small businesses continue to face closures in 2021

Publisher: 
Small Business Majority
English
Date: 
Wednesday, January 27, 2021

Nearly a year into the COVID-19 pandemic, small business owners continue to experience significant setbacks and reduced customer demand. A national survey of small business owners spotlights the distressing effects of the pandemic and what owners anticipate in the months to come. The polling also reveals the disproportionate impact of the economic crisis on small business owners of color, particularly Black, Latino and Asian American/Pacific Islander entrepreneurs. 

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