State Sen. John Curran | senatorcurran.com/
State Sen. John Curran | senatorcurran.com/
Sen. John Curran (R-Lemont) posted a reminder on Facebook to help support small businesses.
"Small businesses really are the engine that drives Illinois. During Small Business Week and every week, let's do our part to support these economy-boosting, job-creating, businesses!," Curran posted.
Illinois is home to more than 1.2 million small businesses, which employ 45% of the state's workforce, according to Business News Daily. Illinois businesses can face challenges related to the state's poor credit rating and large deficit. "The state of Illinois faces a gargantuan pension liability of more than $200 billion," said Jim Collins, Datamation co-founder and president. "This lack of fiscal management breeds concern among small business, and it is likely that the state will need to cut key functions and services."
As of March 2021 – one year into Gov. Pritzker's mandated COVID lockdowns – 35% of Illinois small businesses had been forced to close, Illinois Policy reported. More small businesses closed in Illinois than in any other Midwestern state except for Michigan.
As of early 2022, less than one-third of Illinois' small businesses reported a full recovery to pre-pandemic revenue, according to Advantage News. One of the major reasons why businesses haven't been able to recover is inflation which was record-high in March at 8.5%.
National Small Business Week has been celebrated annually for more than 50 years, according to the Small Business Association (SBA). The SBA aims to recognize the vital role that entrepreneurs and small business owners play in the U.S.
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