TAFT PROCLAIMS MAY 16 – 22 SMALL BUSINESS WEEK

FOR IMMEDIATE RELEASE
May 17, 2004

Columbus, OH -- Citing the impact small business has on Ohio’s economy, Governor Bob Taft has proclaimed May 16 – 22, 2004 Small Business Week. His resolution proclaiming the week was sent to the United States Small Business Administration, which will celebrate its 50th anniversary this week.

“Small business is big business in Ohio, providing good jobs for millions our citizens,” said Taft. “I applaud the entrepreneurs and small business owners throughout the state for their ingenuity and drive.”

According to the U.S. Small Business Administration, small businesses represent more than 98% of Ohio employers and create the vast majority of new jobs. Ohio’s small businesses employ nearly 50% of Ohio’s workforce and report an annual income of more than $20 billion.

“As the incubators for new ideas and new jobs, small businesses are the foundation of Ohio’s economy,” said Lt. Governor Jennette Bradley, Taft’s point-person on small business issues. “As the nation’s economy continues to improve, we should take the time to appreciate the role small business plays in supporting that recovery.”

Taft noted that his administration is continuing to address issues critical to the success of small businesses, including tax reform, rising health care costs and frivolous lawsuits. He also encouraged small businesses to take advantage of beneficial programs through the Ohio Department of Development.

The Ohio Department of Development promotes numerous programs and services for small businesses. These include the Small Business Development Centers and the Minority Contractors and Business Assistance Programs that provide free, confidential, in-depth business consulting to pre-venture, start-up, and existing small business throughout the state. The 1st Stop Business Connection provides free, comprehensive business start-up kits about state-level business regulations as well as licensing and permit requirements. Small business that are high-tech companies may also be eligible for various financial incentives for research, development and commercialization efforts through the Third Frontier program. The Third Frontier program is Governor Taft’s $1.1 billion plan to expand Ohio's high-tech research capabilities and promote start-up companies to create high-paying jobs for generations to come.

For more information on programs for small business, contact the Ohio Department of Development at 1-800-848-1300 or visit www.odod.state.oh.us/OSB.htm.