Letter to the editor - Oct. 24
Last updated 10/23/2021 at 3:01pm
Taxes shouldn’t go to private businesses
On Nov. 2, voters in Clovis will be asked to vote yes or no on this question.
Senate Bill 49, “Shall the City of Clovis allow retail businesses to constitute a qualifying entity for purposes of furthering or implementing economic development plans and provide public support for projects as defined in the Local Economic Development Act.”
According to statistics published by the Small Business Administration, about 20% of business startups fail in the first year. About 50% succumb to business failure within five years.
The most common reasons small businesses fail include a lack of capital (person funds) or funding (borrow or invested funds), an inadequate management team, a faulty business model and unsuccessful marketing initiatives.
In my opinion, public tax funds should be used in conservative enterprise that will benefit our community and should not be used for personal business development.
I will vote no on Senate Bill 49.