According to an April 29th Department of Community and Economic Development (DCED) press release, Gov. Tom Wolf highlights the importance of small businesses and the impact on the success of local economies.
“Pennsylvania’s small businesses are the cornerstones of our communities, and we must do everything we can to invest in their success,” said Gov. Wolf. “In addition to the economic benefits they generate, small businesses also contribute to the culture and fabric of the communities in which they reside. During Small Business Week, I urge every Pennsylvanian to join me in thanking – and supporting – our local businesses.”
Small business is the backbone of the state and local economies. According to the DCED, nearly 1 million businesses employ 2.5 million employees. For every $100 spent on these small businesses, $48 is put back into these local economies. Contrast to the $14 for every $100 spent at big box stores and businesses. In 2019 alone, 88.2 percent of exported Pennsylvanian goods were from small businesses. These exported goods were worth $12.5 billion.
Gov. Tom Wolf has always been an advocate for small businesses and their benefit to the lives of everyone living within the commonwealth today. In 2018 Gov. Wolf implemented PA Business One Stop Shop, this program helps those in need of opening, permitting, and hiring and provides technical support and funding opportunities.
“Our small business ecosystem in Pennsylvania is as diverse as it is, robust,” said Department of Community and Economic Development (DCED) Acting Secretary Neil Weaver. “Small business owners of all backgrounds and identities run our mom-and-pop retailers, our small manufacturers, our tech companies’ are developing the next generation of innovations in so many sectors; and so much more. Small Business Week gives us the opportunity to celebrate those small business owners and employees, and helps put into perspective the support that we can provide to them to continue to succeed.”
According to the DCED, many of these small businesses still struggle today. With the advent of rising costs the government decided to; give aid to those small business owners. Gov. Wolf proposed an incredible $1.7 billion relief plan for these small businesses through the American Rescue Plan Act (ARPA). An accumulated $225 million worth of grants dispersed through the Small Business Assistance Program. These grants given run the gamut of $5,000-$50,000.
For more information on how you get assistance with your new small business venture, please refer to the following links:
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