Governor Dannel Malloy recently signed several bills designed to help Connecticut businesses.

HB 5584 establishes a small business hotline at the Department of Economic and Community Development.

The hotline will provide individualized information and assistance to small businesses and entrepreneurs across the state on how to start, develop, and maintain a successful business.

The department will create the hotline within the Connecticut Economic Resource Center and have it running by Oct. 1.

There is no fiscal impact as CERC currently runs a hotline with a dedicated staff person to provide information and guidance to small businesses.

State Rep. Caroline Simmons (D-Stamford) sponsored the bill.

"Connecticut's legislature, along with the current and former governors, have worked hard to create a variety of programs, services and other resources to assist businesses, yet making businesses aware of these resources has been a challenge," said CBIA Senior Counsel Eric Brown.

"This hotline will be valuable for helping businesses and also as a resource for DECD to gauge which programs and services are the most utilized, underutilized, or confusing to the small business marketplace."

Business, Economic Conditions

Malloy also signed SB 1058 which establishes a process for CTNext—a part of Connecticut Innovations that fosters innovation and entrepreneurship—to partner with a private research organization to continually analyze economic and business conditions, and create reports recommending legislative and other actions to enhance the economy.

It goes into effect immediately, as does SB 928, which establishes a task force to study ways to develop, expand, and improve the state's insurance industry workforce.

With SB 1058, policymakers will have access to solid forecasting on which to base their actions.
"Connecticut needs to focus on the critical components of our state economy, and lawmakers need a steady hand on our economic development policy if the state is going to provide the confidence for jobs to sustain and grow here," said Brian Flaherty, CBIA senior vice president.

"That means policymakers need the best guidance and forecasting in key industry sectors identified in the new law.

"Taken together, these bills will focus on the following sectors: insurance and financial services, healthcare and bioscience, venture capital, advanced manufacturing, aerospace, information technology, software development, data analytics, green technologies, and tourism.

"With continuous analysis and guidance on short- and long-term strategies, delivered to the legislature every year, state policymakers will have access to solid forecasting on which to base their actions."

For more information, contact CBIA's Eric Brown (860.244.1926) | @CBIAericb