Meriden Small Business Success Story

October 16, 2017

While small businesses may not generate as much money as large corporations, they are a significant contributor to the strength of local economies. The economic impacts are clear; small businesses create new jobs and every dollar spent at a local, business can stay in the community and generate a greater economic value.

However, the social impact small businesses can have locally is perhaps more important than their economic impact. Small business owners are aware of how their decisions may impact their neighbors and are often involved in the local community.

A perfect example is Meriden’s Bongiovanni Insurance & Financial, which recently celebrated their 30th year of business. For years ,the Bongiovanni family has been involved in Meriden. They are members of the Meriden Kiwanis, the Rotary Club, and the Midstate Chamber of Commerce, who, in 2010, named the company a Small Business Leader. Last year, the Bongiovanni family helped donate “buddy benches” to local schools in an effort to combat bullying.

Needless to say, supporting small business is not only about creating jobs or building the local economy, but it is also about personal relationships and helping the community. That is why, this year, I supported several pieces of legislation aimed at fostering small business growth here in Connecticut:

HB 5583 - AN ACT EXPANDING INVESTMENT ELIGIBILITY UNDER THE ANGEL INVESTOR TAX CREDIT PROGRAM

A successful company is nothing more than a group of people willing to invest in an idea. Most business owners have no trouble investing their time and effort, yet they sometimes struggle to find the financial backing required to get their ideas off the ground. This bill allows accredited investors who seek to consult and mentor prospective small business owners to contribute to a fund established to support the growth of small businesses.

HB 5584 - AN ACT CONCERNING THE CREATION OF A SMALL BUSINESS HOTLINE

Running a small business is hard work. We must give entrepreneurs the tools and resources they need to succeed. This bill creates a statewide information hotline providing prospective and existing small business owners with customized advice, education, and network resources.

HB 5590 - AN ACT CREATING A TASK FORCE TO IMPROVE THE WORKFORCE DEVELOPMENT SYSTEM IN THE STATE OF CONNECTICUT

This bill allows the labor commissioner to establish a working group to review business support services in the state. The working group would review the services offered by such agencies and consider ways to better coordinate such services that will benefit businesses in the state.

Programs like these have a direct impact on Meriden. Last year, state economic development programs created or retained 400 jobs in Meriden alone. If you are thinking of starting a small business in Meriden and are curious about how the state can help, please contact my office at (860) 240-8500, email Catherine.Abercrombie@cga.ct.gov, or visit our small business page to learn more about the state resources available.