small business tax creditSmall businesses in many industries are struggling and as a result, have no choice but to layoff valued employees. Entrepreneurs and independent contractors in the fields most impacted by the pandemic are also losing their businesses.  The COVID-19 pandemic is not relenting and this winter, more businesses may fail, causing more jobs to be lost. 
 
The Small Business Advocacy Council (SBAC) and Senator Ram Villivalam have worked to file legislation that will provide a tax incentive to businesses that retrain and hire new employees.  Technology, medical and manufacturing companies, and other small businesses may be in the position to train and hire unemployed individuals.  This proposed tax incentive will help small businesses transition potential employees into new fields.
 
"During this pandemic, the different levels of government have worked to provide assistance to those who have become unemployed through no fault of their own. While that has been helpful, it cannot and will not replace the desire and need for quality, high paying jobs. I am proud to be sponsoring legislation and working with the Small Business Advocacy Council to provide tax credits for small businesses that will retrain our residents who have been hit the hardest, including gig workers and independent contractors, to fill the jobs that are readily available," said Senator Villivalam.
 
Elliot Richardson, the SBAC President, and Co-Founder adds, “This pandemic continues to impact struggling small businesses and with winter on the horizon, there is the real prospect of even more individuals losing their jobs and businesses.  This tax credit will help small businesses have the resources to get people back to work.  We must get people safely back to work during these unprecedented times.”
 
"The unemployment numbers and reports from the business community continue to point to a tough recovery process. Now is the time to help these unemployed workers acquire the skills they will need to thrive in our tech-powered, healthcare-focused and manufacturing-driven economy. I'm proud to support the legislation that will help strengthen the workforce and the economies of our cities, metropolitan areas and rural communities," said Shalom Klein, host of the "Get Down To Business" radio show on AM 560 The Answer.
 
The full text of the legislation can be found below: 
 
The SBAC, www.sbacil.org, is laser-focused on passing legislation that empowers the small business community and improves the economic climate for business owners.  The SBAC is fighting to help small businesses make it through this difficult time.
 
Please contact Elliot Richardson at This email address is being protected from spambots. You need JavaScript enabled to view it. or at 847-380-4900 to discuss in more detail or feel free to use the information provided here.   

Category: Press Releases

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