As a small business owner, we know you wear many hats—from running the day-to-day operations of your business, to managing employees, building a brand and much more. One thing many entrepreneurs feel unequipped to deal with while starting or running a business is how to handle business finances and maintain a healthy workforce.
In a letter to New Mexico Governor Michelle Lujan Grisham, John Arensmeyer, Founder and CEO, urged support for the New Mexico Work and $ave legislative proposal sponsored by Senator Bill Tallman and Representative Linda Serrato. The legislation contains narrowly crafted, essential changes requiring a limited number of New Mexico employers to auto-enroll their workers—a requirement in every other state implementing these state-facilitated programs.
This year, we continued to educate small business owners and entrepreneurs about important resources, funding options, policy updates and more that could help their businesses recover from the ongoing pandemic and become more resilient. Over the course of the year, we hosted and participated in more than 430 events, partnering with more than 300 organizations and stakeholders. These events garnered more than 20,000 event registrants and indirectly reached 150,000 individuals.
Today, John Arensmeyer submitted a letter of support for the proposed Automatic-IRA program as part of the reconciliation package. In addition, the letter offers recommendations on how to enhance the legislation to best support small businesses in all states.
Small Business Majority wrote to Illinois Governor Pritzker in support of HB117, a measure that would expand Illinois Secure Choice so that employers with at least five or more employees may participate and auto-enroll their employees. This is an important step to supporting very small businesses and their employees who are unable to access traditional retirement programs, particularly those who have been impacted by the COVID-19 pandemic.
Many California small businesses would like to offer retirement options to their employees—to help attract a talented workforce and boost employee morale—but can’t afford the overhead and administrative costs. The state now requires that all businesses with five or more employees facilitate employee participation in CalSavers if they don’t already have a retirement plan in place. Businesses are being phased into the program over time based on their number of employees.
Why shop small? Because $0.67 of every dollar you spend at a small business gets invested back into the community. For Jeff Rogoff, owner of Sazza in Greenwood Village, Colo., this philosophy holds true. At Sazza, not only are the pizza toppings and cheeses locally sourced but so is the silverware, tables, glassware and branded merchandise.
“Being mindful of our community, working with our community and being a part of our community is all very important to us,” Jeff says.
On March 10, Small Business Majority wrote Governor Ralph Northam to ask him to amend HB2174 to lower the employee number threshold from 25 employees to five employees and to remove the 30-hour work requirement for employees, as the bill originally stipulated.
Small Business Majority wrote to the Illinois House Personnel & Pensions Committee in support of HB0117, which would expand Illinois Secure Choice so that employers with at least one employee may participate and auto-enroll their employees. This is an important step to supporting very small businesses and their employees who are unable to access traditional retirement programs, particularly those who have been impacted by the COVID-19 pandemic.
Today, Small Business Majority submitted a letter of support for HB 2174, which would establish an automatic enrollment payroll deduction individual retirement account (IRA) retirement savings program in Virginia. This would be an important step to support small business owners and their employees who are unable to access traditional retirement benefits.
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