Many businesses closed due to the COVID-19 pandemic and Illinois State Rep. Mark Batinick believes the government can do more to support small businesses. | Anastasiia Chepinska/Unsplash
Many businesses closed due to the COVID-19 pandemic and Illinois State Rep. Mark Batinick believes the government can do more to support small businesses. | Anastasiia Chepinska/Unsplash
Illinois State Rep. Mark Batinick (R-Plainfield) is seeking support for small businesses after a recent survey found 44% of them were unable to pay rent.
"Small businesses play a vital role in Illinois' economy by providing local jobs, investing in communities, and driving innovation across the state," the legislator said on Facebook. "It's important now more than ever that we make Illinois the best place to do business."
Nearly half the businesses in Illinois could not pay their rents in May, 44%, the largest percentage of any state in the country, Advantage News reported. Many business owners said rent increases and skyrocketing gas prices caused an inability to pay rent in full or on time.
Illinois is home to more than 1.2 million small businesses, which employ 45% of the state’s workforce, according to Business News Daily. Those businesses can be impacted by challenges the state faces.
“The state of Illinois faces a gargantuan pension liability of more than $200 billion,” said Jim Collins, Datamation co-founder and president. “This lack of fiscal management breeds concern among small business, and it is likely that the state will need to cut key functions and services.”
One year into Gov. J.B. Pritzker’s mandated COVID-19 lockdowns, 35% of Illinois small businesses have closed, Illinois Policy reported. More small businesses closed in Illinois than in any other Midwestern state except Michigan.
At the beginning of 2022, less than one third of Illinois’ small businesses reported a full recovery to pre-pandemic revenue, Advantage News reported. Many businesses don’t expect to recover fully until mid-2023.
Alerts Sign-up