Tuesday, January 6, 2009

Crist trying to help small businesses

Florida Governor Charlie Crist met with executives from companies with between 10 to 100 employees to raise awareness and support for his loan proposal.

He wants the Legislature, during its two-week special session, to put up $10 million for a loan fund targeting companies that have growth potential but need up to $250,000 in capital.

The Chamber of Commerce, Enterprise Florida, and executives privy to the plan have all praised it.

UPDATE: Charlie's office sent an email providing more details on the plan.

This two-pronged Economic Stimulus Plan would require a state investment of no more than $10 million. A loan program of $8.5 million would support companies with between 10 and 99 employees that demonstrate high potential for growth and expansion. The loans, up to $250,000 per business, would help these companies purchase new capital, train existing employees, and hire new workers. In addition, my plan calls for $1.5 million for economic stimulus. This economic infrastructure will assist small businesses so they can grow and prosper.......

Research and data have proven the wisdom of focusing on the expansion of small, existing businesses. Businesses of this size have the highest potential for growth and new jobs creation. Between 2005 and 2007, just eight percent all Florida establishments were companies with 10 to 99 employees. Yet those companies created nearly 36 percent of the new jobs during that period.