GSB Small Business Resource Center

  IMPORTANT NEWS FOR ALL BUSINESS OWNERS FOR 2012

  Material povided by Bailey-Murphy and Scarano CPAs

The State of Connecticut has been working hard to design programs and incentives to help the small businesses in our State. In connection with this, here is some important information you should have for 2012.  Some items may require immediate action.

Here is a quick snapshot of the key items:

• Job Expansion Tax Credits (JET Program)

1. Employers receive $500 per month for each new job they hire.  Small businesses with less than 50 employees qualify with 1 new hire.

1. Employers receive $900 per month if you hire the unemployed, disabled, or veteran

1. CRITICAL POINT  -  You must complete the application for the program BEFORE hiring to be eligible for this credit

1. We encourage you to complete the application NOW!

1. JET Application - www.ct.gov and type JET Application in the search box. You will be able to download the application in Word or Excel

• Manufacturing Reinvestment Accounts (like IRA's to fund new equipment purchases)

• Creation of the Small Business Express Program (EXP)

1. One page, online application

1. Expedited review process

1. Close within 30 days

1. Visit www.DECD.org

1. Revolving Loan Fund (loans from $10K-$100K). Funds can be used for machinery, equipment, construction, leasehold improvements, relocation, and working capital

1. Job Creation Incentive (loans from $10K-$250K). Funds can be used for training, marketing, and working capital

1. Job Creation Matching Grant (grants from $10K-$100K). Funds can be used for machinery, equipment, construction, leasehold improvements, relocation, and working capital ($1 for $1 match on your investment)

• Small Business Express Loan Package - 1 page application, 30 day turn around.

1. Revolving loan fund

1. Job creation incentive program

These programs are new. This list represents only the key highlights that have been enacted. Please check our website weekly for updates, as well as the State website. These programs are offered through the CT Department of Economic and Community Development (www.DECD.org). They welcome your inquires about which specific programs might suit you best. There is a CTN Video on the website that presents these programs in greater detail. You can also call us at 203-481-1120. We would be happy to answer any questions you may have.

For Jet application click: www.ct.gov   For Full infomation   www.decd.org

Sponsored By Guilford Savings Bank

The mission of the Small Business Resource Center is to capture and channel the knowledge, expertise and strength of our Chamber network in order to provide resource opportunities to the business communities served by the Branford Chamber of Commerce.

The goal of the Small Business Resource Center is to create an environment for business owners and leaders to interact in a genuine exchange of ideas. The Center includes a collection of hard-hitting articles that address everyday business issue, offering solutions written by industry leaders who are knowledgeable in their field. An series of roundtable seminars, web-in ars- and on line discussions topics  will support and expand on the topics addressed in these articles.

Articles and Discussion Board Archives:.

For specific questions about the Small Business Resource Center, please contact  the Chamber by calling 203-488-5500 or writing This e-mail address is being protected from spambots. You need JavaScript enabled to view it .