By LILY WILSON
On March 7, The New York State Senate passed an important bill yesterday to help create jobs and reduce costs for large and small businesses by improving their ability to benefit from the many economic development and energy reduction initiatives already available in the state.
“As a small business owner, I know firsthand the struggles my fellow entrepreneurs face every single day to keep their doors open,” Senator Murphy said. “Small businesses are the engines of our economy and create eight out of every ten jobs in New York. In the 40th Senate District, several municipalities have recently passed local legislation to provide a helping hand to new businesses trying to survive and the State should be a willing a partner as well. This legislation will put my fellow small business owners on an equal playing field with larger employers and hopefully give them the extra boost they need to compete in today’s economy.”
Within the state of New York, small businesses make up 98 percent of all businesses, but are often left out when funds are awarded by state economic development agencies. Larger businesses often have a competitive advantage in accessing state assistance due to having greater levels of resources and in-house expertise. This bill aims to improve smaller businesses ability to benefit from the economic developments that the larger businesses currently succeed from.
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