25 Aug Connecticut small businesses thriving thanks to state program
Connecticut's Small Business Express Program has helped create nearly 4,200 jobs in the last two and a half years, according to data from the Department of Economic and Community Development (DECD), which has run the program since its inception in January 2012. Small Business Express was designed to make up for a decrease in bank loans during the financial crisis.
Small and medium-sized businesses of no more than 100 employees can apply for a loan of up to $300,000, but DECD head Catherine Smith says the average loan is closer to $175,000. In exchange, beneficiaries are required to maintain their current workforce as well as any new jobs they may add for a year after receiving the aid, or else face financial penalties.
The program aims to increase hiring by requiring that, in order to become eligible, companies promise to use the money to either take on new staff or invest in equipment. The results certainly suggest that it's working, with 4,171 new hires statewide coming as a direct result of the program's loans. With Connecticut's SMBs not only finding stability but expanding, demand will increase for custom database software among the state's companies, as more employees mean more complex management practices, and a greater need for business software solutions.
A certified Connecticut FileMaker developer can help companies throughout the state and in any branch of business by creating custom databases to improve the way they operate. They can also provide useful training in how to use FileMaker to their full advantage. Any small business that's looking to grow can use all the help it can get, and a tool like FileMaker can help an SMB not just survive but thrive in the competitive business world.