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1
HOUSE RESOLUTION

 
2    WHEREAS, The current difficult economic conditions have
3heavily impacted the small businesses in our nation through
4decreased sales and difficulties in obtaining small business
5financing; and
 
6    WHEREAS, The National Bureau of Economic Research (NBER),
7noting the significant role that small business plays in the U.
8S. economy, found that: (1) roughly 6 million small businesses
9with fewer than 20 employees account for 20 percent of
10aggregate paid employment and about 15 percent of all sales
11receipts and payroll in the United States; and (2) if small
12business firms with fewer than 100 employees are considered,
13the firms comprised 35 percent of aggregate employment in the
14country; and
 
15    WHEREAS, The National Federation of Independent Business
16(NFIB) has collected small business economic trends data with
17surveys since 1973; in October 2011, the NFIB reported that its
18Index of Small Business Optimism fell again to its
19fourth-lowest reading in the 38-year history of the survey; and
 
20    WHEREAS, The NFIB's October 2011 survey further revealed
21low ratings in the small business sector's expectations
22concerning employment (overall reduction in employment for

 

 

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1fifth month in a row), inventories and sales (26 percent of the
2owners indicated, "poor sales" is their top business problem),
3and improved business conditions (the net percent of owners
4expecting better business conditions in 6 months was a negative
516 percent, 6 points better than September, but still 26 points
6worse than January); and
 
7    WHEREAS, The NFIB October 2011 analysis also noted that
8consumer confidence posted only marginal gains over the last
9few months and consumer confidence in economic policies remains
10at 50-year record low levels according to the University of
11Michigan's consumer confidence survey; and
 
12    WHEREAS, Small businesses in the State of Illinois have
13been greatly impacted by the weak economic conditions, with
14many small business owners becoming uncertain of their future
15prospects and seeing diminishing returns as the difficult
16economic circumstances continue; and
 
17    WHEREAS, Small businesses serve as the backbone of the
18economies of the State of Illinois and the nation at large and
19are deserving of the State's full support and encouragement;
20therefore, be it
 
21    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
22NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that

 

 

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1we designate the month of January 2012 as "Small Business
2Month" in the State of Illinois in honor of the small business
3owners of this State and their vital role in the economy.