SB Express, Investor Program Atop Shulman Business Platform
NEWINGTON - State House candidate Josh Shulman finished a Market Square tour with a call for additional and expanded small business support services-including a resource and advisory hotline, a broader-scoped angel investor initiative, and a more easily accessible Small Business Express program.

       Shulman-the Democratic 27th Assembly District challenger-laid out the platform late last week following conversations he and U.S. Senator Chris Murphy had with business owners in Market Square.

       â€"We had a chance to discuss challenges faced by small business, worker preparedness after high school, and some changes we can make to make Connecticut more business friendly,” Shulman wrote in a press release.

       Shulman, an attorney, said that if elected, he would seek an expansion to the state’s existing Small Business Express program-which, to date, has provided loans and/or grants to around 1500 small businesses throughout its five-year existence-as well modifications to make it more accessible.

       â€"[Some] obstacles are knowledge, lots of paperwork and the ability to secure the loan with property,” Shulman wrote in an email. â€"I actually closed one of these deals for a client and it was not the easiest thing to do.”

       Another issue is that the initiative is not open to start-ups-something Shulman says he hopes to fix.

       â€"The program has been a huge success statewide in creating jobs, so hopefully that can continue,” he said.

       Shulman also has his sights set on the state’s angel investor tax benefit program-for those who invest at least $25,000 in a start-up company-which he wants to expand.

       Currently, the program is limited to bioscience, advanced materials, photonics, information technology and clean tech, but Shulman envisions the addition of other industries.

       Start-up regulations and fees can also be a challenge for new entrepreneurs, he said. It typically costs a new Connecticut business owner up to $750 in LLC filing fees, an LLC annual report, incorporation filing, and a corporation annual report.

       That’s better than Massachusetts and New York-which, according to the website Small Business Trends, total $1470 and $798, respectively-but higher than Rhode Island’s $480 and New Hampshire’s $400.

       â€"Interesting to note, our fees are less than some neighboring states [such as Massachusetts], but that doesn't make it any better,” he wrote. â€"It can be prohibitive to start a business when you include state fees, taxes and attorneys.”

       Shulman said that he plans to keep a close eye on the entrepreneur learners’ permit-a first year program that provides financial aid for licensing fees-and if it is successful, work to expand it.

      

      

      

      
STORY BY MARK DIPAOLA   |  Nov 03 2016  |  COMMENTS?