$10 million in federal funds could help NH attract small businesses | News

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Starting a new business in New Hampshire requires vision and often financial risk. It is also time consuming to navigate state agency websites, register a business, obtain permits, or obtain licenses.

The Department of Business and Economic Affairs wants to use $10 million in federal pandemic funds to develop an online “business support” portal that it says could attract new small businesses to the state. The request must be approved by a Joint Legislative Fiscal Committee made up of members of the House and Senate.

Alexander Fries, a spokesman for the department, said the pandemic shutdowns have sparked an interest in “digital solutions.” For some, that means working remotely or shopping for groceries online. The online portal aims to make it easy for people starting a small business to understand and navigate state requirements, from applying for permits to registering new employees and brand names.

In your order Speaking to the committee, Business and Economic Affairs Commissioner Taylor Caswell said states that have developed an online portal have seen small businesses grow 30 percent faster than those without. State agencies in those states have seen a 15 to 25 percent drop in costs associated with starting small businesses.

Connecticut is the only state in New England with a comprehensive business portal, Fries said.

The initiative began with a study. “What are our services currently and is there an opportunity to provide improvements and reduce that burden for small businesses?” French fries he said. “How can the government help small businesses?”

The project, which includes the Department of Information Technology among other state agencies, will be implemented in stages with the first phase expected within the next four months, he said. The Executive Council must also approve Caswell’s request.

He New Hampshire Bulletin is an independent, non-profit news organization that covers the Granite State.