The new data comes as a surprise, given the expanding economy, improved housing and loan markets allowing entrepreneurs to tap home equity or other financing to underwrite business costs, and efforts by the state to spur entrepreneurship through financing programs like the Connecticut Small Business Express program or through business accelerators like the Stamford Innovation Center. Co-sponsored by state Sen. Tony Hwang, R-Fairfield, and state Rep. Fred Camillo, R-Greenwich, among others, the Entrepreneur Learner’s Permit would waive permits and licensing fees for two years associated with the formation of a new business in the state, excluding health, fire and other permits required for public safety. Business dissolutions are not a true measure of actual economic activity due to many owners keeping inactive businesses on the books, but the startup index provides a strong indicator given state law that requires registration for companies doing business here. The Connecticut Department of Economic and Community Development is seeking legislative approval to extend the Small Business Express program to microloans, with the goal of stretching available funding to more businesses at the earliest stage of formation.
Source: New business formation continues to lag – StamfordAdvocate