Assemblyman Stirpe’s Legislation Offers New Avenues for Entrepreneurs Over 50

May 15, 2019

Assemblyman Al Stirpe (D-Cicero) announced that legislation he sponsored to establish a program to help New Yorkers age 50 and older chase their dreams of becoming entrepreneurs passed the Assembly.

“Business development isn’t just a young person’s game,” said Stirpe. “There are countless hardworking men and women in Central New York who can bring decades of wisdom, experience and networking to the table. This legislation will help them start new ventures that can become part of our regional economy’s rich landscape of small businesses.”

Stirpe’s bill establishes a program for education and training in small business development for people age 50 or older (A.7206). While many tend to associate new businesses and start-up companies with younger generations, reports show that the workforce is getting older statewide and nationally.[1]

Small businesses account for the vast majority of firms in every sector in New York, as well as 98% of the businesses across the state.[2] Not only do they provide jobs to our communities, but they are also the cornerstone of New York’s economy, Stirpe noted. As the chair of the Assembly’s Small Business Committee and a former small-business owner himself, Stirpe knows the immense value of these ventures and has long been a champion for entrepreneurs. Earlier this year, he helped pass a state budget that restores $700,000 for Small Business Development Centers, which offer business counseling and entrepreneurial training, and expands the Employee Training Incentive Program (ETIP) for New York businesses, making in-house training, software development and renewable or clean energy internships eligible training activities under the program.

[1] osc.state.ny.us/reports/economic/labor-force-trends-nys-2017.pdf

[2] osc.state.ny.us/reports/economic/small-business-nys-2019.pdf