The proposals will benefit all small businesses that have been hit by the pandemic.
New York City’s small businesses are on the brink of rental debt, and a lack of sales has caused incomes to decline further and further.
However, after a year of the first case detected in New York, small businesses seem to have a breather.
The Small Business Committee of the New York City Council held a virtual public meeting on Monday, March 1, to discuss various bills that would eliminate fines for small businesses in the Big Apple.
One of the benefits of these projects would be the elimination of the outrageous fines New York City issues against small businesses.
This decision, if approved, would give relief to the owners of the establishments that have been burdened with debt due to the economic crisis that generated the coronavirus pandemic.
Through a statement from the office of the President of the Municipal Council, Corey Johnson, the institution drafted a project that will allow permanently update more than 180 laws and offer “immediate relief” to small businesses that received unnecessary fines.
The New York City Council’s decision came after over a year of reviewing the long web of rules and regulations that apply to small businesses, according to the NY Journal.
“Small businesses have waited years for significant penalty relief. I am proud that the Council has taken the lead in doing a truly comprehensive review of our laws to see how we can help. This has been a problem for decades, but now there is a renewed urgency due to the pandemic. These companies are suffering and it is up to us to do everything possible “Johnson said.
With this measure, businesses will be able to face this year 2021 with more tranquility, and focus on pay off accumulated rental debts and generate sales that can recoup income that were lost during the harsh restrictions that New York City went through.
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As detailed by the Municipal Council, within the proposed proposals there is a permanent relief for small businesses, since, addresses inspections and penalties for regulatory violations that harmed city businesses, even, long before the arrival of the coronavirus pandemic.
“Our small businesses are suffering as a result of the COVID-19 pandemic and desperately need help. Instead of imposing punitive fines, we must educate them about the process and provide the necessary support to continue operating their business. ” added to the discussion, Councilor Vanessa Gibson, with a review from the NY Journal.
On the other hand, the project promoted by councilors Mark Gjonaj and Corey Johnson, aims to develop reforms to reimburse some fines that were issued and paid during the coronavirus pandemic in New York.
In addition to reimbursement, this new proposal would also allow recovery periods and a detention of the penalties for second and third restrictions.
“At a time when small businesses are struggling, elected officials must come up with legislation that gives them real relief. Proposals 2233 and 2234 are the kind of good governance bills that small business owners should expect from the Mayor’s Office ”, added Councilmember Robert Holden.
These new reforms will provide flexibility to all those businesses that have been negatively impacted by the COVID-19 economic crisis, and will offer financial relief to owners.
You can also read: 9 million small businesses will not survive in 2021
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