Business Updates

September 17, 2021
Happy National Small Business Week!

Since my last update, a number of new business-related resources have become available and I hope you will find them helpful. As we progress through yet another time of uncertainty regarding the pandemic, please remember that there are a number of helpful programs and information you can access below. If you missed last month's update, you can click here to utilize any of the "evergreen" information included in that update.

Remember to also check my Facebook page regularly for similar updates, sign-up for my email list on my webpage, and you may reach me by email at Stephanie.Thomas@cga.ct.gov with any specific questions or issues.

 
ANNOUNCEMENTS FROM SBA
Economic Injury Disaster LOAN Available due to Tropical Storm Elsa

The U.S. Small Business Administration (SBA) announced that Economic Injury Disaster Loans (EIDL) are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations as a result of the effects of Tropical Storm Elsa from July 9-23, 2021.

This declaration covers the primary Connecticut counties of Hartford, Litchfield, Middlesex, New Haven, Tolland, and Windham; the contiguous Connecticut counties of Fairfield and New London;  the contiguous Massachusetts counties of Berkshire, Hampden, and Worcester: the contiguous New York county of Dutchess; and the contiguous Rhode Island counties of Kent and Providence.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at (800) 659-2955 or (800) 877-8339 for those who are deaf or partially deaf. You can also email SBA. Completed loan applications are due no later than May 2, 2022.

Apply Here
 
Small Business Profiles for the States

The Office of Advocacy, an independent office within the U.S. Small Business Administration, released the 2021 Small Business Profiles for the States. Each year, Advocacy’s Office of Economic Research gathers the most recent government economic data to construct in-depth, user-friendly snapshots of each state’s small business employment, industry, and business owner demographic statistics. The profiles gather the latest federal economic data into state-by-state snapshots of small business health and economic activity.  This year’s profiles focus on state small business dynamics and employment. 

The 2021 Small Business Profiles show the United States is home to 32.5 million small businesses employing 46.8% of the private workforce. Connecticut is home to 355,596 small businesses which makes up 99.4 percent of all Connecticut businesses.

The 2021 Connecticut Small Business Profile highlights:

  • Business Dynamics
  • Small Business Loans
  • Small Business Count by Size & Industry
  • Small Business Exports Business Ownership by Demographic Group
  • Total Connecticut Employments

The profiles cover the United States, the 50 states, and the District of Columbia. Although the profiles use the latest releases from the primary federal sources of small business data, because of lags in the release of those data, the data analyzed predate the COVID-19 pandemic. Information about the impacts of the pandemic on small businesses is available at the Office of Advocacy pandemic webpage.

Connecticut Small Business Economic Profile
 
TOURISM IN CT
CT for Me

Connecticut is an excellent place to live and build a career. In addition to the state’s high quality education and healthcare systems, Connecticut also offers an assortment of living spaces – rural, urban, suburban – and everything in between.

CTForMe is a fairly new online hub highlighting the advantages of living in the Nutmeg state. The website and the Instagram page (@CTForMe) - feature first-person accounts of young professionals in Connecticut. The content focuses on issues a young professional may consider when choosing a place to settle such as employment opportunities, the arts and culture scene, as well as sustainability initiatives in the community.

CTForMe will be shared through universities, organizations, social media pages around Connecticut and surrounding states. It's designed to be a resource for young, talented professionals who are considering making their lives in Connecticut.

Check out CTforMe to see all that Connecticut has to offer our young people.

 
Revamping CT Tourism

The State Office of Tourism is launching “Full Color Connecticut,” a new marketing campaign to support travel to Connecticut and promote safe travel. It puts Connecticut’s famous fall foliage front and center while highlighting the many experiences Connecticut has to offer during the fall, from corn mazes and apple picking to town fairs and fall recreation.

This effort is just the latest in revamping Connecticut tourism advertising, with a larger focus on regional efforts to draw New York, Massachusetts and Rhode Island visitors, among others, and expand into other geographical markets like Philadelphia. The campaign furthers the state’s efforts to revitalize its tourism industry after the apex of the COVID-19 pandemic and seeks to support many businesses across Connecticut.

 
HISPANIC HERITAGE MONTH
Celebrating Hispanic Heritage Month

This month, from September 15 through October 15, we observe Hispanic Heritage Month to celebrate, recognize and feature the countless achievements of many Hispanic Americans who have positively impacted and enriched our communities.

Their rich culture has influenced the entertainment industry, sports, fashion, food, the political landscape, education, science and more with an enormous economic impact worldwide.

I am proud the legislature adopted and included Latino studies in our public high school curriculum beginning in the fall of 2022, allowing for more diversity and inclusion of an integral part of American history.

Please join me in recognizing Hispanic American successes, challenges and stories throughout this month and appreciating their invaluable contributions to society.