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Small Business Human Resources Workforce Development Your Questions Answered Success Stories

April 2008 — Vol. 86, No. 3

FROM THE PRESIDENT

Small firms vital to state’s economy

By John R. Rathgeber

CBIA President and CEO

 

CBIA’s latest radio and TV ad campaign urges legislators to keep the needs of small businesses like Atlantic Steel & Processing in mind when they’re about to vote on a bill affecting businesses. These companies, as well as their employees, customers, suppliers and communities, have a lot at stake in the outcome. So does the state.

In all, Connecticut has more than 300,000 small businesses, according to the SBA. The 97,000 or so with employees create the most net new jobs and employ more than half of the state’s workforce. Small entrepreneurial companies inject vitality into our economy by innovating new products and processes (they produce 13 to 14 times more patents per employee than larger companies, says the SBA). And family businesses that stay in business beyond the founding generation have a very strong motivation to stay in the state — if our business climate makes that possible.

They need a business climate that not only enables them to thrive but their customers as well, many of which are large businesses in the state.

Small businesses — whether manufacturers, entrepreneurial start-ups, family firms, sole proprietorships or partnerships — usually do not have significant resources, nor facilities out-of-state, nor the ability to absorb a lot of setbacks. That makes them very vulnerable to costly laws and regulations, especially in a tough economy. They don’t have as many options for shifting work to other facilities in states with more favorable business climates. In effect, whether these businesses thrive or die in Connecticut depends, in part, on the actions of state policymakers.

State legislators now are considering many bills that will affect Connecticut businesses. Please add your voice to ours by urging legislators to pass bills that will help and reject ones that will hurt Connecticut businesses — large or small. You can e-mail legislators directly from our Web site at cbia.com/gov.