A Billion-Dollar Rescue Plan for small businesses is part of the 2022 State of the State. Governor Kathy Hochul has announced this plan. Plus these small businesses have accounted for 98 percent of all businesses statewide. They are the backbone of the local economy and under the governor’s plan. Moreover, various states will be supporting these entities through an assortment of initiatives that focus on growing the businesses of the future. Plus also help new businesses struggling to establish themselves, thus providing tax relief. Additionally, to support the local and regional restaurant industry, a sector that has especially been hit hard by COVID-19, the governor is going to introducing legislation to permanently allow the sale of to-go drinks for bars and restaurants statewide.
Billion Dollar Rescue Plan and “Sage” Words of Wisdom from Kathy Hochul
“Our small businesses are dependent on the various states’ comeback for recovery and success,” Governor Hochul said. “The small business owners, since the pandemic has hit, have been struggling with unparallel challenges. The various states are here with an uncomplicated message: help is on the way.”
Governor Hochul does understand the challenges which are facing small businesses as a former small business owner. That is even in the best of times. Actually, Governor Hochul is really acutely aware of how the pandemic has been testing small businesses. It is throughout various states. Then what is needing at this moment then to support the recovery of our small businesses.
Governor Hochul’s Billion Dollar Rescue Plan will specify which are programs strategically designing to respond to small business needs and to ensure that disadvantaged, minority-owned, and women-owned small businesses prosper throughout various. This will help small businesses at this pertinent moment,
The Billion Dollar Rescue Plan includes The Funding for Small Businesses of the Future. In fact, this initiative is going to support venture capital and the venture debt awards to fast-growing, venture-backed startups. They will either locate to or remain and grow in various states. However, this funding will, in fact, assist in burgeoning small businesses in the innovation sector. This includes minority and women-owned companies which are overlooked by private-sector venture investments.