Cape Cod is overwhelmingly a small business region, with 95% of businesses having less than 20 employees and 65% having less than five. Business owners are sensitive to regulatory compliance mandates, a burden that hinders productivity and adds to the cost of doing business. This is particularly true in small business with a few employees because much of the expense of adhering to governmental rules is the same regardless of business size. Whenever possible, we will work with our elected officials to streamline regulation on small business.
Small business programs to encourage entrepreneurs are important to our future. Our sister corporation Coastal Community Capital, has been funded by the US Depts. of Agriculture and Treasury, and Mass Growth Capital Corp. for small business community lending. Continuing these types of programs is critically important to job creation and job stabilization.
Student Loan Repayment – Offering student loan repayment incentives as a benefit of employment is a great way to retain talent and a growing movement among companies nationally. There is proposed legislation before both at the federal and state levels that would provide a tax deduction or credit for employers offering student loan repayment assistance to employees up to a pre-specified amount, similar to the existing tax incentives in place for employer sponsored tuition reimbursement.