Proposed State Law Change Aimed at Aiding Small Business

A proposed change to state law aimed at helping Main Street businesses thrive has been brought to the table by area leaders.

The idea of the creation of a “Main Street Business” category was discussed at meeting this month between the Greater Nassau County Chamber of Commerce, representatives from Empire State Development and lawmakers.

Currently under state law, a small business is defined as a business with one hundred employees or less. Under the proposed plan, Main Street Businesses would be defined as those having 20 employees or less. 

By creating a new category, small businesses would no longer have to compete with larger businesses for certain types of capital and state grants in times of struggle, according to Assemblywoman Michelle Schimel, D-Great Neck, a proponent of the plan.

Businesses located in a two-mile radius of a community’s downtown are not able to access the amount of capital needed to flourish, according to Schimel.  

“I am grateful for the Empire State Development representatives to listen to our proposal, and discuss how to best target resources to Main Street Businesses,” said Schimel in a press release.

More meetings are planned to address this issue in the coming months, according to Schimel.