Today is “Small Business Day” and Assemblyman Brian Kolb (R,C – Canandaigua) showed his continued commitment to improving small businesses in New York by supporting the Assembly minority’s Small Business Improvement Act of 2006. The act is a package proposal aimed at reducing taxes and increasing jobs all around the state.
“I have always been committed to small businesses,” said Kolb. “Today is a day dedicated to the hard working people that provide the jobs and services that make New York the great state that it is.”
Nearly 98 percent of all businesses in New York are small businesses, and almost 52 percent of working New Yorkers are employed by small businesses. Many argue that the high cost of doing business in New York is one of the principle reasons small businesses fail.
Before entering the Assembly, Kolb spent most of his professional life creating, owning and operating small businesses, giving him full understanding of the situation most New York businesses are in. Kolb shares his expertise as the Chair of the Assembly Minority Manufacturing Task Force and member of the Assembly Minority Small Business Task Force.
The Small Business Improvement Act of 2006 would utilize a number of methods which the Assembly minority hope to use to stimulate New York’s economy, including:
- Increase funding for the Main Street revitalization program which provides grants to renovate downtown areas
- Establish a Small Business Energy Tax reduction
- Education grants for business owners and employees for courses necessary to operate or support small business
- Increase the sales tax vendor credit to 10 percent and raise the maximum credit to $1,000 per year for compliance costs
- Reenact the 1 percent lower tax rate for small businesses
- Establish a Small Business Tax Credit for businesses that provide job training to employees
“Today we will focus on the needs of small businesses,” added Kolb. “I will do everything I can to help and bring more businesses into the Finger Lakes region. Creating jobs is a priority, and by stimulating small business, many new jobs will be created.”