Michigan Democrats Push Small Business Hiring, Loan Incentives

Lansing Democrats are rallying behind legislation in the House of Representatives designed to spark growth for small businesses and hire out-of-work Michigan residents.

Businesses that hire unemployed workers could receive up to $4,000 in tax credits per individual, if one measure passes. Companies hiring military veterans would get the most credits, according to the Free Press.

"Small and medium-sized businesses are the engines that drive our economy and provide jobs to our citizens," House Minority Floor leader Kate Segal (D-Battle Creek) told the Detroit News.

State Democrats also support a package of bills to create a pool of funds to loan to small businesses.

"We know that very small loans of between $100,000 and half a million can often make a huge difference for these small businesses," Rep. Vicki Barnett (D-Farmington Hills) who sponsored the series of bills with Segal, told the Detroit News.

The loans would be offered through Michigan credit unions and local banks and would be paid for through small investments of state trust funds, the Free Press reports.

Segal submitted the loans measures last week and referred them to the House Committee on Banking and Financial Services. The hiring incentives legislation will be introduced after the Thanksgiving break.

Comments

[powermfm]

01:37 PM on 11/15/2011

OK, I lived in Detroit for 26 years and still have family and friends there. I am also Small Business. There is a myth going around that Small Business is going to save the day. People, first of all check this out. Per the government, Small Business is any business bringing in $50 million or less a year. I am sure there are such Small Businesses but not in my Small Business neighborhood. I can't hire because I cannot find people who want to work in Small Business. They prefer the Big Guys like the tech firms and such with all the "glamour". On top of that most Small Businesses are usually physically small with office and work space for just so many bodies and that's it or the Fire Marshall closes them down. Now if the Big Guys want to really get back on track they way the used to be, far be it from me to stop them. Their vitality reverberates in my business. They are sitting on mountains of cash (I'm not!) and manufacturing reasons for their passive aggressiveness. Its only going to bite them in the end. People lose faith in them and go somewhere else to buy and do business, such as off shore.

[tailgatrz]

06:03 PM on 11/15/2011

Sad, this does not seem to be important issue. That kinda proves your point. So far just you and me. I do agree with you. Everyone out there wants the brass ring, and fit to their fingers, with a warranty and free replacements. Everyone thinks rights are to be given not earned. We have a problem in our society. We built it so well, we spoiled our younger generation. Of course they will say Naaaah. We have gone from dependable to dependant. 100 years ago you worked to survive, now it appears it is something to pass the time. We have made things so convenient that if it is not, it is INconvenient. We have lost our character.
I work at a small seasonal business, I hear it every year, people say I am glad your back, I love this store. then people ask why I cannot price match wall mart. or ask when we go close out. That is the only time they shop. If I have to answer that question, they would not understand.