On June 22nd, the Small Business Administration's (SBA) Office of Advocacy celebrated its 40th Anniversary with an all day Symposium in Washington, D.C. The Symposium featured panels of experts discussing the space SBA fills in speaking for small businesses during the legislative and regulatory processes. Participants first listened to keynote speakers Senator David Vitter (R-LA), Chairman of the Senate Small Business and Entrepreneurship Committee, and Representative Steve Chabot (R-OH), Chairman of the House Small Business Committee, outline what challenges they see for the small business community and what path is the best way forward.
Throughout the day several issues were raised repeatedly by the different panels. Importantly, there was a consensus that rulemaking processes need to be more collaborative and that to create an environment where small businesses can grow and thrive, regulations need to take the impact on small businesses into consistent consideration. The "Accounting for Small Business: The Challenge of Measuring the Cost of Regulation" Panel highlighted the lack of good data points to properly outline the economic impact of rules on small businesses, while the "Reducing the Burdens: Making Better Policies for Small Business" Panel discussed the important role of the Regulatory Flexibility Act (RFA) and the Small Business Regulatory Enforcement and Fairness Act of 1996 (SBREFA) panels play in giving small businesses a voice in the process.
The day was reminder of what a power tool SBA and the Office of Advocacy is for small businesses across the United States. IMA-NA was happy to participate as and active partner with SBA on various issues.