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Kentucky Celebrates Small Business at State Capitol

Small business leaders celebrating at Kentucky State Capitol

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News Summary

The annual ‘Kentucky Celebrates Small Business’ event took place at the State Capitol, honoring leaders like Crinda Francke as ‘Small Business Person of the Year.’ The event emphasized the importance of small businesses in the economy and announced new initiatives including free webinars on digital strategies and the Kentucky Small Business Tax Credit program aimed at fostering growth in the sector.

Frankfort, Kentucky – The annual “Kentucky Celebrates Small Business” event was held on Wednesday morning at the State Capitol, where small business leaders from across the commonwealth were recognized for their contributions to the local economy and community development. This event highlighted the essential role that small businesses play in Kentucky’s economic framework.

At this year’s ceremony, Crinda Francke, President & CEO of ExecuTrain based in Lexington, was honored with the prestigious title of “Small Business Person of the Year.” This recognition reflects her dedication to client success and the strength of her team, which has helped train over 12 million individuals, including serving Fortune 500 companies as well as local nonprofits.

Another notable recognition was awarded to Dale Morgan, founder of Foundation47, who received the title of “Financial Services Advocate of the Year.” Morgan’s organization focuses on enhancing financial literacy in underserved communities, emphasizing that financial education is a fundamental right and empowering individuals to take control of their financial futures.

The event also spotlighted additional small business leaders through various awards in categories such as rural business development and advocacy. Such recognitions underscore the commitment to fostering a vibrant small business community throughout the state.

In conjunction with these awards, the Kentucky Main Street program announced a set of free webinars scheduled from April to June, aimed at assisting small business owners in developing effective digital strategies. The workshops will offer actionable methods to enhance online presence and better engage customers. This initiative is supported by funding from the USDA Rural Business Development Grant program, which aims to bolster rural economies.

For those who cannot attend the live sessions, recorded versions of the workshops will be made available, ensuring that vital resources are accessible to all interested business owners.

Further supporting the small business community, Governor Andy Beshear announced the availability of the Kentucky Small Business Tax Credit (KSBTC). This program allows businesses to apply for tax credits up to $25,000, with applications due by November 1 for eligibility in the 2024 tax year. Should a business miss this deadline, they may be eligible for credits starting in the 2025 tax year. The KSBTC program has successfully led to over $2.1 million in investments, the creation of 222 jobs, and the awarding of over $760,000 in tax credits.

The tax credits range from $3,500 to $25,000, depending on the number of jobs created and investments made in new equipment or technology. Most for-profit businesses with 50 or fewer full-time employees are eligible to apply, making this program a significant opportunity for small enterprises looking to grow and innovate.

Looking ahead, the Small Business Administration (SBA) is set to hold the National Small Business Week events from May 4-10, 2025, in Washington, D.C. This event will celebrate excellence among small businesses in various categories. Crinda Francke will be honored during these national events alongside other award winners, marking a prestigious moment in her career. Additionally, the SBA Kentucky District Office will formally recognize Francke and others at the upcoming Kentucky Celebrates Small Business event scheduled for May 14, 2025.

This annual event and accompanying initiatives serve as a testament to the vibrancy and resilience of Kentucky’s small business sector, demonstrating a collective commitment to growth, innovation, and community empowerment.