Photo courtesy of Matthew Rutledge/Flickr Creative Commons
If you’re worried about the future of your favorite small businesses, IMPACCT Brooklyn recommends keeping an eye on upcoming bills and proposals on the 2018 midterm ballots.
One bill that will impact small businesses is the Small Business Jobs Survival Act (SBJSA), a bill introduced to the NYC City Council that acts as “commercial rent control” and gives commercial tenants specific rights to better plan for the future of their businesses. Creators of the bill describe it as “a simple, fair, and effective solution to several of the city’s major economic problems,” and would provide a countermeasure to threats to small businesses including high rents, landlord extortion, and zoning changes. Under the bill, commercial tenants are granted a minimum 10-year lease with the right to renewal; equal negotiation terms when it comes time to renew their lease; and restrictions to prevent landlords from passing their property taxes on to small business owners.
IMPACCT Brooklyn champions small businesses and small business owners. Small businesses are the lifeblood of our neighborhoods – they give the community a sense of character, stimulate local economies by bringing growth, innovation, and jobs to the area, and push economic growth by providing employment opportunities to people otherwise considered “unemployable” by large corporations.
If you have an idea for a business, our Economic Development Department is a one-stop-shop for anyone who wants to start their own business, find a retail space, or develop a business plan. IMPACCT Brooklyn provides a range of services from one-on-one business counseling and pro bono legal services to small business workshops, and neighborhood business ‘tours’ of vacant retail spaces. If you’re a small business owner or a patron of small businesses, we encourage you to read up on the candidates and issues, get out, and VOTE in the coming midterms for the change you want to see in the world!
Learn more about IMPACCT Brooklyn’s Economic Development Department and schedule a meeting for one-on-one business counseling today!
