Veterans! SBA Has Your Backs

Join SBA and Public Private Strategies Institute on Wednesday, November 9, for webinar in part of our “Building A Better America: A Small Business Resource Community” series which will cover resources for veteran entrepreneurs. Speakers include Ray Milano, director of SBA’s Veterans Business Outreach Center Program and Dan Clare, chief communications and outreach officer at Disabled American Veterans. Additionally, this webinar will cover:

• Steps you can take now to learn and take advantage of existing programs that are available at SBA and other agencies;

• Updates regarding programs and recent policy announcements, including the Inflation Reduction Act, the Bipartisan Infrastructure Law, American Rescue Plan and Made in America;

• Discussion on important, timely policy issues, including paid leave, the earned income tax credit, the child tax credit, access to affordable childcare, hiring and retaining workers, and health care access and cost;

• Your questions answered by SBA Leadership and small business experts.

Click to register: https://publicprivatestrategies.zoom.us/webinar/register/WN_sRv7TSWiSDC5kxpcA4UnUg?utm_medium=email&utm_source=govdelivery

November: National Entrepreneurship Month

Small Business Administration, in recognition of entrepreneurs – those wide-eyed, eager, ambitious intrepid business people – and National Entrepreneurship Month, is stepping up its wide array of help to get them on their way to fulfilling their dreams.

Entrepreneurs are as American as apple pie and the backbone of the American economy. They boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.

Entrepreneurs are important to market on Main Street USA and national economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development.

The United States excels because it is strong in so many areas that matter. Entrepreneurship plays a crucial role in the US economy and as result policy initiatives are created to encourage entrepreneurial behavior. This, coupled with the culture of determination and motivation, makes the US a great place to be an entrepreneur."

Entrepreneurship is important to the economy because it:

1. Spurs economic growth

When entrepreneurs build businesses, it affects every part of the economy. Unemployed people get jobs through it directly or indirectly. New services and products developed by entrepreneurs increase the exchange of money in the country and abroad as well which spurs economic growth.

2. Adds to the national income

As new businesses or enterprises boom, it creates opportunities for people. A large number of people get employed through it. An increase in employment adds to national income in the form of tax revenue and higher government spending. This amount can be used by the government for the betterment of other struggling sectors.

3. Generates employment opportunities

Business enterprises are one of the biggest sources of jobs in a nation. Entrepreneurship firms not only empower an individual but also creates opportunities for many people. A startup requires various people with different skill sets to run smoothly creating job opportunities for several people in various fields.

4. Is about Innovation

Entrepreneurship is like an incubator of innovation. In this competitive world innovation is one thing that will separate you from the rest. To create an outstanding product, build a stronger network, reach out to consumers quickly, you need to innovate. To fulfill the demands of the people and to cope up with the market competition, entrepreneurs come up with creative ideas and services. And this brainstorming to fill the consumer needs makes them innovative thinkers.

5. Impacts on community life

The establishment of an enterprise helps promote numerous retail facilities, a higher level of homeownership, fewer slums, better sanitation standards, and higher expenditure on education, recreation, and religious activities. 

They invest in community projects and provide financial support to local charities. This enables further development beyond their ventures.

Thus, entrepreneurship leads to more stability and a higher quality of community life.

6. Contributes to a Better standard of living

The standard of living is a concept built on an increase in the amount of consumption of a variety of goods and services over a particular period by a household. 

And it depends on the availability of diversified products in the market. Along with that by creating job opportunities increases the income of the people resulting in the enhancement of their standard of living.

Ownership of luxury cars, computers, mobile phones, the rapid growth of shopping malls, etc. are some factors that indicate the rising living standards of people, and all this is due to the efforts of entrepreneurs.

Economic development means a process of upward change whereby the real per capita income of a country increases over some time. Economic growth has always been a serious issue and in the last 6 months, it has become a worldwide problem. There is a sudden decline in the economic growth of every country due to this pandemic.

Entrepreneurs serve as catalysts in the process of industrialization and economic growth. Entrepreneurship has historically spurred minorities, women, and immigrants to create better lives for themselves and their families. Currently, minorities own 15 percent of all U.S. businesses, accounting for $591 billion in revenue. Women are starting businesses at one-and-a-half times the national average and currently own 40% of all businesses, producing nearly $1.3 trillion in revenue.

America’s entrepreneurs not only contribute greatly to their local communities, but they are also drivers of the national economy as a whole. That, in and of itself, is worth celebrating. November is National Entrepreneurship Month in the U.S. It is a time to applaud the achievements of the small business community. But it is also an opportunity to position current and future small business owners for success in the years ahead. That is the mission of the SBA. We offer a variety of resources that entrepreneurs can leverage to help them start and grow their businesses.

• SBA Resource Partners: When your goal is to build a business from scratch, or take the one you have to the next level, you need people in your corner who have been there before. That is what you’ll find in an SBA Resource Partner like SCORE. SCORE mentors provide no-cost counseling and a wide range of services such as training and webinars. You can also enlist the help of your local Small Business Development Center, Veterans Business Outreach Center, or Women’s Business Center. For those in underserved communities, the Community Navigator Pilot Program can connect you to financial assistance, industry-specific training, and more.

• Funding Programs: All small business owners have to start somewhere. For many, it begins with obtaining funding through the SBA. With guaranteed loans, the SBA reduces risk for lenders, ultimately enabling easier access to capital. SBA-guaranteed loans carry competitive terms and unique benefits such as lower down payments and flexible overhead requirements. Once you’ve calculated your startup costs, just use the Lender Match tool to find a lender that is right for you. The SBA can also connect small business owners with investors through licensed Small Business Investment Companies (SBICs).

• Learning Platform: Entrepreneurs reach their full potential when they are empowered and educated. To that end, the SBA’s digital learning programs can give America’s small business owners the tools and know-how they need to launch their businesses and see them thrive. SBA Learning Center courses teach the ins and outs of business ownership, from market research to day-to-day operations. Group-specific programs, such as Ascent for Women and Boots to Business for transitioning service members, are tailored toward helping their attendees navigate their unique entrepreneurial journeys. For established business owners, T.H.R.I.V.E. Emerging Leaders Reimagined is designed to accelerate growth.

America’s entrepreneurs have done great things, and with continued support, the sky is the limit. National Entrepreneurship Month is an excellent time to learn more about resources available to you at www.sba.gov.

NY Daily News Contributor criticizes New York Cannabis Law

I’d like to draw your attention to a commentary that appeared in the Tuesday, November 1, edition of the New York Daily News about New York State’s new cannabis law. Titled ‘NY’s cannabis law: A problem for young people,” the writer sought to illustrate the problems with the law that was enacted and what should be done to correct it. Indeed, while the writer is critical of selling CPD and THC products on the same shelves as children’s candies, in my visits to several recent trade exhibits, I didn’t hear any vendor encourage this practice. As a matter of fact, while some advocates of retail cannabis, including doctors, have said that under certain conditions children can take these products, but no one has expressed support for their sale to children in the same “candy story.” First of all, the price of these gummies and similar candies would be prohibitive for sales in a children’s candy story.

The writer of the column is Renee Goodwin is a professor of epidemiology at The City University of New York, adjunct professor at Columbia University’s Mailman School of Public Health and a licensed clinical psychologist.

 

New York State legalized cannabis for adult-use marijuana in March 2021. It’s little understood that several key features of the statute contradict longstanding tenets of sound public health policy and have nothing to do with social justice, adult-use cannabis or the legality of use or retail sale of cannabis.

New York has historically been known for robust public health policies which empower local communities to pass laws that meet the social, economic and public health needs of community members. But features of New York State’s Marijuana Regulation and Taxation Act are at odds with this approach, making it simultaneously more laissez-faire and more conservative than perhaps any other state cannabis law in the country.

Comparing and contrasting with California’s legalization policy provides useful insight, especially since California law is thought by some to be the “Wild West” of legalization.

The first and most surprising tenet of New York law that’s at odds with California’s: preemption, meaning the state’s authority overrides that of any local governing body to pass laws or regulations that are stricter than the state’s. New York State explicitly prohibits localities that did not entirely opt-out from participating in cannabis sales by last Dec. 31 from enacting local retail laws deemed “stricter” than the state law. Moreover, New York State says that once a municipality has opted into allowing cannabis sales, it can never change its mind. That’s ridiculously rigid.

To provide an example of how this can play out, this spring, Suffolk County Legislator Kara Hahn introduced a bill that would more strictly regulate cannabis product packaging and advertising that appeals to children in Suffolk County. Ten of the 41 municipalities in Suffolk County opted in, including the Town of Brookhaven, within which Hahn’s district falls.

Yet if the local legislature passes it, New York State can sue the county and likely win. This is the opposite of California’s law, where jurisdictions, rather than the state, retain the authority to choose what is best for their communities, and it’s the opposite for countless other issues in New York, from speed limits to the placement of stop signs.

Second, New York passed the first law in the nation to allow the public consumption of cannabis. Unlike secondhand tobacco smoke, there are no laws protecting children from secondhand cannabis smoke and there are mounting data linking secondhand cannabis exposure to adverse health outcomes among children. It is difficult to see how this advances public health goals, especially amidst the tough tobacco control laws that have dramatically reduced secondhand exposure to tobacco smoke.

Third, New York permits the co-location of tobacco and cannabis products in the same retail outlet. The public health rationale for prohibiting such co-location should go without saying; research shows that cannabis use increases after a state legalizes for recreational use, youth who use cannabis use are more likely to start using tobacco and e-cigarettes and that co-use of cannabis and cigarettes is much more common in states that have recreational legalization. In contrast, California does not allow co-location of sales; there, the prevalence of cigarette use among youth is lower than in any other state except Utah.

Fourth, in California, only those 21 and over may enter outlets that sell cannabis. And cannabis dispensaries sell only cannabis: no tobacco, no food, no beverages. IDs are checked at the door and again at the point of sale. New York allows candy, food and beverages to be sold in cannabis dispensaries and does not require an individual to be at least 21 to enter.

It is not clear whether New York lawmakers who passed this law understood what the preemption clause does, nor is it clear if they were in favor of selling tobacco and cannabis together in stores where minors are permitted to shop for candy — perhaps placed side by side with cannabis gummies and soda, in a case next to THC-infused beverages — when they voted to pass this law.

Our work has shown that cannabis use has been increasing among parents nationally and, as of 2017, was much higher in legal states. Strong laws, policies and regulation could make legalization a success for all and protect the states’ most vulnerable citizens, children. But that’s not what we have here.

Since not a single recreational license has been issued in NYS, it is not too late to change the regulatory features of the law while maintaining legalization and the social justice gains that legalization brings.

If the past six years have taught us anything, it is that leaders make mistakes. True leaders acknowledge when they have made a mistake and then do what they can to fix it. That time is now.