The recently enacted New York State Budget for 2021 and 2022 allocates more than $1 billion in aid for small businesses affected by the COVID-19 pandemic.
On April 19, 2021, Senator Anna Kaplan, a representative of New York’s 7th State Senate district and Chairperson of the Senate Committee on Commerce, Economic Development, and Small Business stated: “The pandemic has been devastating to New York’s small-business community, and they need our help if they’re going to survive these challenging times. I’m proud to have fought to bring back over a billion dollars in grants and other assistance for our small businesses in the State Budget, and as the program rolls out statewide, I encourage every small-business owner to apply for the assistance they need and deserve.”
A portion of the relief funds is designated to help the State locate businesses that might be too small to have personnel dedicated to seeking such funding.
The State Budget includes the following initiatives:
“Small businesses are the heart and soul of our communities. The small business, arts, entertainment, and restaurant relief package we secured in this year’s state budget will provide the resources small businesses need – not only to endure this crisis, but thrive in spite of it,” said Senator Kevin Thomas.
On top of all these forms of financial assistance for small businesses, the State Budget also encompasses investments in the education system, homeowner relief, healthcare improvements, as well as benefits for workers and families.