In Albany today Assemblyman Bill Reilich (R,I,C –Greece), the Chair of the Assembly Minority Task Force on Small Business in New York State, hosted a meeting of forty Rochester-area small businesses to discuss their concerns and share his plan to improve New York state’s small business climate. “It is well known that the high cost of doing business in New York State is one of the main reasons small businesses struggle," said Reilich. "If we allow these businesses to fail, it is basically inevitable that our overall economy will do the same."
Reilich noted that nearly 98 percent of all businesses in New York are small businesses, and nearly 52 percent of working New Yorkers are employed by small businesses. Reilich further stated there is good reason to provide support to small businesses in New York. “If small businesses are failing, New York’s economy is failing.”
In the meeting, Reilich highlighted what he feels are critical components of the Small Business Improvement Act of 2006. His plan calls to reduce the corporate franchise tax rate for small businesses –a tax that stifles growth. The legislation also authorizes counties to lower or eliminate the tax on energy sources imposed on businesses and requires that at least fifteen percent of all state contracts be awarded to small businesses. Other proposals include county main street redevelopment and other incentives designed to spur and promote economic growth.
The high cost of doing business in New York is often identified as one of the reasons small businesses fail. Assemblyman Reilich proposed the Small Business Improvement Act to help New York’s most essential employers grow. The act will help establish a pro-business climate in the state.