HR1316 96TH GENERAL ASSEMBLY

HR1316 LRB096 22503 GRL 41806 r

HOUSE RESOLUTION

WHEREAS, The current recession has heavily impacted the small businesses in our nation through decreased sales and difficulties in obtaining small business financing; and

WHEREAS, The National Bureau of Economic Research determined that the current recession began in December 2007; as of December 2008, the current recession is the longest downturn in the last 25 years; and

WHEREAS, The National Federation of Independent Business (NFIB) has collected small business economic trends data with surveys since 1973; in November 2008, the NFIB reported that its Index of Small Business Optimism fell to its third-lowest reading in the 35-year history of the survey; and

WHEREAS, The NFIB's November 2008 survey further revealed record or near-record low ratings in the small business sector's expectations concerning the creation of new jobs, improved business conditions, and increased sales; and

WHEREAS, Small businesses in the State of Illinois have been greatly impacted by the economic downturn, with many small business owners becoming uncertain of their future prospects and seeing diminishing returns as the recession continues; and

WHEREAS, Small businesses serve as the backbone of the economies of the State of Illinois and the nation at large and are deserving of the State's full support and encouragement; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we designate the month of January as "Small Business Month" in the State of Illinois in honor of the small business owners of this State and their vital role in the economy.