Small Business Growth Legislation

February 23, 2017

Small businesses are the lifeblood of our economy and it is important that we support them, like we do with our large corporations. Together we must focus on promoting job growth and encouraging economic development. These bills are pro-business, pro-job growth policies that are top priorities for House Democrats.

House Bill 5583 broadens eligibility for the already successful Angel Investor program and House Bill 5584 establishes an 800 hotline for small business owners. These bills are among ten Caucus proposals designed to make it easier to do business in Connecticut, expand the economy and add good-paying jobs. The legislation has the backing of the Connecticut Business and Industry Association. CBIA will support efforts to get these bills signed into law.

The Angel Investor program brings much-needed capital to entrepreneurs looking to kick-start their business. In many cases the investors providing start-up capital are also entrepreneurs with an interest in both businesses succeeding. Qualified investors will receive a 25 percent credit on their state income tax return. The Small Business Hotline will be a one-stop resource for entrepreneurs. Calling one number will link them with financial, technical and management assistance. It will also act as a liaison between all municipal, regional, state and federal agencies as needed.