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Originally effective October 1, 2023 (but under a recent no-guidance letter, now effective January 1, 2024), the SLA will require a license to provide EWA products if the amount accessed is less than $50,000 and the APR as calculated under Connecticut law exceeds 12%. This is a 12% APR, not a 12% interest rate.
Here are some statistics on small businesses in the state of Connecticut: There are 350,376 small businesses. That's 99.4% of all businesses in the state.
Start a business in Connecticut in 7 steps Come up with a suitable business idea. Choose your business structure. Choose a name for your Connecticut-based business. Create a business plan. License and register your business in Connecticut. Find funding for your business. Create a website for your business.
Another fleeing corporate giant: Connecticut is facing a business migration crisis. Connecticut's personal income taxes are among the highest in the nation. The heavy tax burden has caused corporate giants such as Aetna and GE to flee, resulting in a decline in tax revenues.
?It's a sign that the larger companies do see positive things in Connecticut like a great workforce, a great education system for their families and a great location.?
Ing to the US Small Business Administration's latest report, the state with the largest number of small businesses is California. As of 2022, there were 4.24 million small businesses there, representing 99.8% of the state's total number of businesses and hiring 7.4 million employees.
There are 33,185,550 small businesses in the United States. Small businesses employ 61.7 million Americans, totaling 46.4% of private sector employees.