Issue Position: Graduated Business License

Issue Position

I was a victim of the State of Connecticut's over-regulation of businesses and I feel this is one of the obstacles that need to be overcome if Connecticut is going to go from number 45 out of 50 in economic opportunity and back to number 1. I will go so far as to say that I would probably not be running for political office if I was able to get my security business started back in 2010/2011. Shortly after leaving the Marine Corps and while I was in College, in between raising two children with one on the way, I was getting everything in order to start a security business based on efficiency and tapping into the vast knowledge I had acquired working security in various situations such as in Las Vegas, Chicago, and in the military. I had everything in place, the legal filings as an LLC, the Federal and State income tax ID's, the Duns and Bradstreet number, federal access to be able to bid on contracts, a website, clothing and accessory bids, and the bank account. It was no simple undertaking reading and rereading laws and manuals and self help books on starting a business... and then it happened. After all that work and getting all my ducks in a row the State of Connecticut sent back my business license application and told me I was unable to obtain one because I lacked four years "Supervisory Experience." Let it be known that I have "supervised" at some of the most dangerous locations in Chicago, Las Vegas, and the military. I was an NCO of Marines and I "supervised" squads and platoons during various times in and around combat areas. But even though I've been working in various aspects of security such as when I was called upon to tackle and clothesline illegal immigrants selling fake ID's in parking lots in Little Village Chicago when I was 15, loss prevention at M&M world in Las Vegas, fights at the MGM Grand and Ceasar's Palace, suiting up for Gucci at the Bellagio, monitoring and deterrence at the Grand Canal shops in the Venetian Hotel, installing and monitoring CCTV's, protecting spectators at the Las Vegas Motor speedway, stopping shootings and preventing stabbings, saving those that were shot while bouncing at some of the most dangerous bars in Chicago... yet I was not "qualified" in the States eyes to start my own business.

This brings me to my idea that I have had rattling around in my head for some time. This idea is a way for people who have cash only businesses, people who want to start a new business but don't meet all the ridiculous qualifications, people who have businesses for which they want to build credit with the hopes of one day expanding or moving to a more permanent location, people that want to pay their fair share of taxes but want to do it in such a way as to not cause any headaches and heart attacks, and everyday people that want a shot at trying their luck at launching an idea but don't want to mortgage their home, pets, and family to do it.

How my idea works is quite simple and easy to understand. In conjunction with the State and the banking system(preferably credit unions) this process for new businesses to start-up and thrive would be quite revolutionary and Connecticut could be and should be the model by which the rest of the country can imitate in order to help dig ourselves out of this economic lull. The process goes a little something like this and this is just an example of how it would work. An individual has a great idea for a business. They gather together $200 and go to a state sponsored website. On this website they fill out all pertinent information which will accomplish several things such as getting the business name legal, acquiring a Federal and State tax ID, opening up a corresponding bank account which has all aspects of payroll and accounting combined, and being granted a no limit temporary business license. The idea of this license is to let the individual start the business while allowing overtime the individual to fulfill any regulatory obligations that may be in place for the business. In a matter of minutes a person could be the owner and operator of a tax paying start-up here in Connecticut. Now this is where it gets really exciting... armed with a license to do business the person would hopefully begin making money. Several things happen when the money is submitted electronically or by cash. First the deposit will be entered as a service provided or the selling of a product. The money will immediately be Federally and State taxed at a predetermined rate. The money that was removed as a tax will be replaced with a line of credit for the business. This accomplishes several things such as providing incentive to the owner in the way of improved credit for the business and access to all revenue that is brought in, an incentive for the bank in the form of a low interest credit account to the business, incentive for the Federal and State government in the form of a new and immediate revenue stream, and a direct positive economic impact on the community at large. Overtime the business would have a solid revenue stream and projections, built up credit, and the ever important increase in the ability to get a loan and expand. This will create jobs and will usher in a new wave of entrepreneurs never before witnessed in history and it will be a decisive win for all.

There is a lot more to this idea but I know what is written here is enough to peak your interest. Until we speak again.

Source