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REGIONAL OUTREACH
The Louisiana State Legislature recently adopted the Small Business Protection Act. Act 204 became law in Louisiana on June 11, making it easier for small businesses to identify rules and regulations impacting their industry. The law also aids businesses in keeping track of proposed new regulations.
On May 7, Region 4 Advocate Bruce LeVell met with various members of the Cobb Chamber of Commerce in Cobb County, Ga. The discussion centered around the Dodd-Frank Act’s hindering of sensible state and local regulation of lending, which has the potential to benefit small business owners in all industries.
Having a city-supported business incubator has been a novel way that San Luis, Ariz., encourages small businesses to start up and grow. By showing the city’s strong commitment towards growing small businesses, San Luis has helped the local economy and is inspiring a culture of entrepreneurship among the residents.
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REGULATORY CORNER
The U.S. Small Business Administration (SBA) proposes to modify its method for calculating annual average receipts used to prescribe size standards for small businesses. Specifically, consistent with a recent amendment to the Small Business Act made by Public Law 115-324, SBA proposes to change its regulations on the calculation of annual average receipts for all receipts-based SBA size standards and other agencies’ proposed size standards for service-industry firms from a three-year averaging period to a five-year averaging period. Comments on this proposed rule are due by August 23, 2019
The Department of Defense (DoD) is proposing a rule that would revise the Defense Federal Acquisition Supplement to implement section 852 of the 2019 National Defense Authorization Act (Public Law 115 – 232) which provides for accelerated payments to small business contractors and to small business subcontractors by accelerating payments to their prime contractors. Comments on this rule are due by July 30, 2019.
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STATE SMALL BUSINESS PROFILE SPOTLIGHT
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Q: How many small businesses are in Alaska?
A: The 2019 Small Business Profiles show that Alaska has 73,354 small businesses.
Q: How many people were employed by Maine small businesses?
A: Maine small businesses employed 289,156 people, or 56.5% of the private workforce, in 2016, the latest year available.
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Q: How many jobs were added in New Hampshire by small businesses?
A: Small businesses added 9,239 net new jobs in New Hampshire in 2016, the latest year available.
Q: In which Vermont industries do small businesses employ the most people?
A: Small businesses in health care and social assistance, and retail trade employed 46,052 Vermont residents in 2016, the latest year available.
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