Business owners of color have reported pandemic-related troubles at a greater rate than their white counterparts. Asian American and Pacific Islander business owners reported the highest likelihood of closing their business permanently due to the pandemic’s impacts, according to a January 2021 poll by the Small Business Majority. Over half of the AAPI entrepreneurs surveyed also reported difficulty paying rent or mortgages.
Small Business News
The bill is endorsed by the National Urban League, U.S. Black Chambers (USBC), Small Business Majority, Association Enterprise for Opportunity (AEO), National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), the Page 30 Coalition, and Local Initiatives Support Coalition (LISC).
Rebuilding Your Business Webinar: On Thursday, April 29, from 3:30 to 5 p.m., the City of San José is holding a free online workshop featuring local experts on promoting your business, accessing funding, and finding affordable healthcare and retirement options for you and your employees. Join representatives from ZingPop Social Media, SV Small Business Development Center, Small Business Majority, and Minority Business Development Agency San José Business Center.
John Arensmeyer, founder & CEO, Small Business Majority. “Even before the COVID-19 pandemic, women and people of color faced systemic barriers to launching and growing their businesses. Entrepreneurship has become even more challenging over the past year as women entrepreneurs and business owners of color have faced disproportionate impacts from the pandemic and greater challenges accessing capital," "In order to promote a more level playing field, we must address inequities in the tax code that are putting these entrepreneurs at a disadvantage.
A group of Senate Democrats introduced legislation Tuesday to give small businesses owned by women and people of color greater access to capital through tax incentives.
The bill has gained early support from some small business groups, including the Main Street Alliance and the Small Business Majority.
Today, Congressman Jimmy Gomez (CA-34) introduced the For the 99.5% Act, legislation that would create a progressive estate tax on the top 0.5% of wealthy Americans. Senator Bernie Sanders (I-VT) introduced this bill in the United States Senate.
Small businesses across the state support the bill, according to Lindsey Vigoda, director of Small Business Majority, some because they can’t afford to offer decent (if any) health insurance to their employees. Other owners say they can’t attract top-notch workers because they can’t offer benefits competitive with those of larger companies. The Colorado Option might make that a little easier.
As a small-business owner, a health-care professional, and someone with a pre-existing condition, I am deeply concerned about the rising costs of quality health care in Colorado. I know that most want to make better care at better prices a reality for more Coloradans, which is why I’m surprised that I have to defend legislation that would help more entrepreneurs access quality health care.
Some small business owners voiced their support for the bill during Friday’s hearing. The owner of Sazza Pizza and Salads in Greenwood Village, Jeff Rogoff, said that providing affordable and accessible health care would boost employee morale and retention and ultimately help the business’s bottom line.
On the other side, Good Business Colorado, which along with the Small Business Majority has 5,500 small business members, sent out a list of about 40 businesses that support HB 1232.