SBA Seeks Small Business Owners’ Comments on Regulations

By Maria Valdez Haubrich

One of the most frustrating aspects of owning a small business is dealing with government regulations. If you feel like you’re overburdened with pointless regulations, the Small Business Administration (SBA) wants to hear from you.

Specifically, the SBA is asking the public to comment on SBA regulations and the best ways to improve them, simplify them or get rid of them.

“The primary objectives of this review are to make SBA’s regulatory program more cost-effective and less burdensome on participants in the agency’s programs while continuing to promote economic growth, innovation and job creation,” the SBA stated in a notice published in the Federal Register in early March. “SBA seeks public input on the design of a plan to use for periodic retrospective review of its regulations and an initial list of the rules to be reviewed under the plan.”

In January, President Obama issued an executive order for a government-wide review of federal regulations. Those that were found to be burdensome or outdated, the order stated, could be eliminated if they were found to be thwarting private sector job growth.

Agencies were told to develop a plan for reviewing their regulations by mid-May, at which time the plan will be made public.

The SBA said its review will focus on small business investment companies, surety bond guarantees, business loans, disaster loans, government contracting and Historically Underutilized Business Zones. The agency is currently examining its size regulations, and just finished a review of the 8(a) Business Development Program, so neither of these issues is up for comment.

What kinds of comments is the SBA looking for? The agency wants to know if a particular regulation imposes an economic burden on small business; if the rule is duplicative or overlapping; whether paperwork could be reduced by allowing electronic submissions; whether there is scientific data to discredit the regulation; or whether the issue could be handled by trade organizations without federal involvement.

“Comments should focus on regulations that have demonstrated deficiencies,” the notice said. “Comments that rehash debates over recently issued rules will be less useful. The public should focus on rule changes that will achieve a broad public impact, rather than an individual, personal, or corporate benefit.”

Submit your comments by April 13 either electronically at regulations.gov, or by mail to the SBA Office of the General Counsel, 409 Third Street SW., Washington, D.C., 20416. Once the SBA completes its review plan, you’ll be able to view it on the SBA website.

Image by Flickr user vgm8383 (Creative Commons)

This entry was posted on Tuesday, March 29th, 2011 at 6:00 am and is filed under Business Law, Compliance, small business. You can follow any responses to this entry through the RSS 2.0 feed.


You can leave a response, or trackback from your own site.