Today, Awesta Sarkash, Government Affairs Director, testified in front of the Maryland Senate Finance Committee in favor of Senate Bill 825, the Consumer Credit- Commercial Financing Transactions. SB 825 would enact critical protections for small business borrowers that are falling prey to predatory lending practices. The bill is applicable to financing products below $2.5 million because smaller, Main Street businesses are the ones being misled by the lack of transparency today.
Last year, the American Rescue Plan provided billions of dollars to state governments to support their communities. After a year, these governments still have an opportunity to support their local small business ecosystem. We offer updated recommendations for strategic investments that can have a transformative impact on the long-term sustainability of a small business ecosystem.
On March 4, Small Business Majority submitted a letter in support of the Georgia Economic Growth Act to the House Committee on Government Affairs at the Georgia General Assembly. The legislation will establish a State Office of Supplier Diversity, which would help increase supplier diversity in state contracts and expand procurement opportunities targeting minority-owned businesses in Georgia.
Small Business Majority writes in strong support of SB 951, which would help more Californian small business owners and employees take paid time off from work to recover from illness, care for their family or bond with a new child without jeopardizing their economic security.
Small Business Majority testifies in support of legislation to address business identity fraud in Colorado
On February 24, Small Business Majority's Colorado Director Lindsey Vigoda testified before the House Business Affairs and Labor Committee on legislation that would allow business owners to file complaints and seek relief related to business identity theft through the Colorado Secretary of State.
Small Business Majority submits comments regarding methodology to calculate premiums for the Standardized Health Benefit Plan Colorado Option
On February 24, Small Business Majority's Colorado Director Lindsey Vigoda submitted comments concerning the methodology for calculating premium rate reductions for the Colorado Options' small group market standardardized health benefit plan. We encourage the Colorado Division of Insurance to revise and establish fair rules to better serve the needs of small businesses.
Today, Government Affairs Director, Awesta Sarkash, submitted a letter to the DC Council's Committee on Health and Business & Economic Development opposing B24-0305, the Professional Employer Oganization Registration Act of 2021. This bill would require professional employer organizations that offer health insurance in the District to register with the Department of Insurance, Securities, and Banking. This bill would have negative impacts on the marketplace—and consequently on small businesses that already struggle with healthcare costs.
Small Business Majority Board Chair LaJuanna Russell testifies on why eliminating the debt limit will create certainty for small businesses
On February 16, LaJuanna Russell, founder and president of Business Management Associates, Inc. (BMA) and the Chair of the Board of Directors and a member of the Small Business Council for Small Business Majority, testified before the U.S. House Committee on the Budget on a proposal to eliminate the U.S. debt limit, which would help mitigate financial risks and uncertainty for businesses of all sizes.
Small Business Majority testifies in support of reducing business registration fees for Coloradan small businesses
On February 16, Small Business Majority's Colorado Director Lindsey Vigoda testified before the House Business Affairs and Labor Committee on reducing costly fees associated with business registrations for aspiring and current Colorado entrepreneurs. Reducing or waiving business-related fees will remove just one of the many financial barriers on entrepreneurs who are scrambling to keep their businesses afloat.
Today, John Arensmeyer submitted comments on the notice of proposed rulemaking (NPRM) issued by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), titled “Beneficial Ownership Information Reporting Requirements” (RIN 1506-AB49), regarding the implementation of the recently enacted Corporate Transparency Act of 2020 (CTA). An anti-money laundering measure, the CTA requires FinCEN to establish a secure database to which U.S. companies submit basic identifying information of their true, “beneficial” owners.