Hoosier small businesses can get greater federal tax savings this year because of the first bill from the 2023 session thats been signed into law.

Predictions of a mild recession in 2023 create a lot of uncertainty for workers and companies. But many Indiana small business owners are optimistic. Some are even still willing to borrow money despite rising loan interest rates.

The new project aims to promote two businesses in all 25 council districts across Indianapolis.

Geratoni School of Entrepreneurship and Innovation will be a one-year certificate program that starts this fall.

The percentage of small businesses saying they will have to possibly close in the next six months dropped from 25 percent last December to 13 percent in a recent survey.

More COVID-19 relief grants are available to Indianapolis Black-owned small businesses, through a partnership between Cummins, LISC Indianapolis and the Indy Black Chamber of Commerce. Even a year into the pandemic, continued financial support for these businesses is vital for economic recovery.

The legislation essentially puts into law a program created by the Indiana Economic Development Corporation last year, using federal COVID-19 relief dollars.

House Bill 1004, passed by the Indiana House Tuesday, will provide funds to help small businesses that have been hit hard during the pandemic.

Three months ago, 1 in 5 Indiana small business owners said they would have to close over the next six months without additional aid.

Cindy Helmling is the owner of Cornerstone Bakery Company, a wholesale bread company. With restaurants either shutting down or operating within pandemic capacity restrictions, she spoke with WFYI's Terri Dee and says the empty grocery store bread shelves shifted her thinking on ways to expand her customer base.