Credit Ready NYC
On March 7th, at Manhattan Community College, there will be a Women's Small Business credit fair. As March is recognized as Womens History month and the month that the initiative out of Christine Quinn's office is taking place. The fair is being conducted for women owned businesses, entrepreneurs, start-ups and businesses where women have a partnership stake.
At the fair there will be banks, alternative lenders and non-profit organizations to offer loans and financial services. The City Council is trying to make a change for small business owners particularly women in NYC and this is a step n the right direction.
Events like these and organizations like the Women's Initiative will help make a longer term impact on the economies of many areas in the city.
I think this is a great event for women business owners who need working capital or credit.However, as someone who has a women-owned small business (LLC) in New York City, one of the greatest challenges is New York City’s Unincorporated Business Tax. We, small businesses pay this extra tax (an additional 4%) that many larger companies do not have to pay. In fact, larger companies in NYC generally get tax breaks and if you actually were to look at the actual rates of taxes that they pay in the city (after breaks and loopholes), I, a small business owner pay a MUCH larger percentage than multi million/billion dollar companies. I’ve told this to Chris Quinn at many events I have been at with her and she always seems interested – but nothing ever changes.The UBT coupled with state and Federal Taxes and now the MTA tax – not to mention the amount of money it costs to rent office space in NYC – makes it a really difficult place for certain small businesses to operate.If you have Chris Quinn’s ear – something to bring up to her!
good to know. i absolutely will. thanks for commenting