Curran: 'Small businesses really are the engine that drives Illinois'
"Small businesses really are the engine that drives Illinois. During Small Business Week and every week, let's do our part to support these economy-boosting, job-creating, businesses!"
Posted by the Will County Gazette on May 7th, accessible here
Sen. John Curran (R-Lemont) is urging constituents to do their part to support small businesses.
"Small businesses really are the engine that drives Illinois," Curran posted on Facebook. "During Small Business Week and every week, let's do our part to support these economy-boosting, job-creating, businesses!"
There are over 1.2 million small businesses in the state of Illinois, which employ 45% of the state's workforce, according to Business News Daily.
"The state of Illinois faces a gargantuan pension liability of more than $200 billion," said Jim Collins, Datamation co-founder and president. "This lack of fiscal management breeds concern among small business, and it is likely that the state will need to cut key functions and services."
As of March 2021 – one year into Gov. Pritzker's mandated COVID lockdowns – 35% of Illinois small businesses had been forced to close, Illinois Policy reported. More small businesses closed in Illinois than in any other Midwestern state except for Michigan.
The state has recently legalized cannabis and gambling, both of which are likely to bring in revenue. "We're still in a good place economically," said Spencer Hadelman, CEO of Advantage Marketing. "As gambling and cannabis evolve, there will be even more opportunities, just as we've seen in states like California and Colorado. The bringing in of new jobs will only help the state's economy."
As of early 2022, less than one-third of Illinois' small businesses reported a full recovery to pre-pandemic revenue, according to Advantage News. One of the major reasons why businesses haven't been able to recover is inflation which was record-high in March at 8.5%.
National Small Business Week has been celebrated every year for more than 50 years, according to the Small Business Association (SBA). The SBA aims to recognize the vital role that entrepreneurs and small business owners play in the U.S.