Small Business Agenda: Thinking BIG for Small Business Recovery
Support Small Businesses Through A Long-Term Sales Tax Holiday. Establish a long-term (minimum 6-months) Sales Tax Holiday for small businesses with fewer than 25 employees to encourage consumers to shop locally and infuse more cash into small businesses struggling due to COVID, while also eliminating a regressive tax on working family consumers.
“HireNYC.” Tax Credits for Local Businesses Hiring Workers Who Lost Jobs Due to COVID. Provide payroll tax credits to local businesses for hiring unemployed workers that have lost their jobs due to COVID related cutbacks.
Keeping Small Businesses in Business. Commercial Rent Stabilization Scheme to Respond to Financial Crises and Vacancy. Pass commercial rent stabilization on the city level and push for state legislation to allow mortgage adjustments to eliminate minimum rent requirements during times of financial crisis and/or when a property has been vacant for an extended period of time.
Establish a NYC Small Business Portal for Businesses to Purchase Equipment/Goods from the City to Lower Costs. Using the city’s massive purchasing power to leverage economies of scale, establish a Small Business Portal where businesses can purchase equipment, goods and services through the city as its purchasing agent in order to cut down on costs.
The Purge: Graduated Phase-Out of Fees, Fines and License Requirements Under the Review of a Newly Created Small Business Task Force. Phase out all current fees, fines and license requirements for small businesses over the next five years, during which time a Small Business Task Force will be created to evaluate which fees, fines and licenses should be kept and continued, with a five-year sunset and review built into their extension to ensure that the city is regularly re-assessing and reforming its regulatory regime.