NIFB Unveils Small Business Recovery Plan

RICHMOND (January 19th, 2022) — The National Federation of Independent Business today announced its “Small Business Recovery Plan,” four legislative principles to help ensure that Virginia’s small businesses have the resources they need to move forward during the recovery.

“Virginia’s small businesses have had a rough couple of years, starting with the pandemic and continuing with the labor shortage and disruptions to the supply chain,” NFIB State Director Julia Hammond said. “Our ‘Small Business Recovery Plan’ is a set of legislative principles that outlines the issues of greatest concern to Virginia’s small businesses.

“Legislators should keep these principles in mind while crafting bills during this year’s session of the General Assembly.” The 2022 regular session began January 12^th and lasts 60 days.

NFIB’s legislative principles include:

Tax relief. The legislature must provide tax relief for small businesses so they can recover faster, keep and hire employees, and bolster their communities.
Sensible regulations. Small business owners are urging lawmakers to repeal onerous regulations and mandates and when appropriate replace them with reasonable policies that don’t interfere with their ability to own, operate, and grow their businesses.
Financial assistance. NFIB members support near- and longer-term financial assistance programs for employers with continuing financial needs including rising health care costs.
Unemployment insurance reform. The pandemic stretched Virginia’s unemployment system to its breaking point. It’s essential that the General Assembly pass meaningful unemployment reform and ensure that small businesses aren’t held liable for fraudulent payments or overpayments.

To find out more about the plan, click here. This week, NFIB is also launching a statewide radio ad campaign to encourage lawmakers to pass pro-small business legislation that will help Virginia small business owners and employees recover from the pandemic.

“Small business owners are doing everything they can to keep customers and employees safe and continue to provide the goods and services their customers need, but it isn’t easy, and it looks like the labor shortage and supply chain disruptions will remain an issue in the coming year,” Hammond said. “It’s essential that the Virginia House and Senate set partisan politics aside and pass commonsense legislation that ensures small businesses have the resources they so desperately need to survive this economic crisis.”

According to NFIB’s most recently survey of how small business owners are continuing to be impacted by the COVID-19 pandemic, the recent increase in COVID-19 cases has negatively impacted about two-thirds of small business owners, nearly half (47%) reported supply chains had a significant impact on their business, and 23% of small employers are currently experiencing a significant staffing shortage.