Today, CEO John Arensmeyer shared a letter with congressional leadership outlining key policy recommendations that must be included in the forthcoming human infrastructure package. These investments are critical because small businesses need more support to ensure a successful long-term recovery from the pandemic, and to promote a more resilient workforce and economy.
Currently the federal Truth in Lending Act (TILA) requires that consumer creditors disclose critical financing information, including annual percentage rate (APR), in a clear and comparable format. However, Congress has yet to extend these disclosure requirements to small business loans and other credit products, which means small businesses are vulnerable to irresponsible lenders. As small businesses recover from the pandemic, it should go without saying that transparent lending shouldn’t be up for debate.
California lawmakers are weighing a proposal to require proof of COVID-19 vaccination or a negative test for customers at consumer-facing businesses and to similarly require employers to mandate vaccinations or negative COVID-19 tests for employees. New opinion polling from Small Business Majority reveals that small businesses in California are supportive of proposals to mandate vaccinations and testing at places of business to help ensure local economies can operate safely, amid setbacks from the current surge in COVID-19 cases.
On June 10, 2021 Small Business Majority wrote to California State Senator Richard Roth in support of AB 915, which would ensure that a fair share of procurement spending is directed and dedicated to small and minority-owned small businesses.
Sayuri Tsuchitani is the owner and operator of Headspa EN, in Los Angeles, CA. Small Business Majority submitted Tsuchitani's testimony to the House of Reprsentatives Committee on Small Business on how to harness the power of Immigrant-Owned Businesses.
Small Business Majority submitted testimony to the Colorado Senate Business Labor & Technology Committee in suport of House Bill 21-1167, which would cap retainage for all public and private entities at 5% and allow small construction and subcontract firms to be more competitive against larger firms.
Nearly a year into the COVID-19
This report compiles findings from focus groups and roundtable discussions with rural small business owners and other small business stakeholders in four states, as well as the results of a national poll of rural small business owners. The report also features recommendations for policymakers and service providers to increase opportunities for rural entrepreneurs.
On Small Business Saturday we’re all encouraged to “shop small,” which is great for the millions of small companies in California and elsewhere. But how many people think about helping small businesses beyond that one day? We should, because we can do more to assist small firms than just buying holiday gifts from them—we can also help them invest in energy efficiency.