New website gives small-business owners a chance to shape regulations before they are finalized.
Complying with government regulations is no easy task for small-business owners. You have to familiarize yourself with each new regulation, determine what elements of your operations are affected, prepare a plan to comply and document your compliance. Failure to do so can lead to potential fines, penalties or even legal action.
Before a regulation goes into effect, there’s usually an opportunity for affected parties to provide their feedback, and this input sometimes works to change a regulation that may be onerous. This process just became easier. The House Small Business Committee recently launched “Small Biz Reg Watch,” a website that provides a list of upcoming regulations. The website also provides—in plain English—a summary of each regulation as well as instructions on how to provide feedback.
Small Biz Reg Watch offers a tremendous opportunity for small-business owners to affect how regulations are written before they’re finalized. Now it’s up to us to take advantage of it.
Learn more about Mike Periu
Mike works with small businesses to teach them about finance and management. He started Proximo, LLC, a company that offers small business education and training services focused on finance and technology.
Periu also writes for OpenForum, Yahoo! Finanzas the Huffington Post contributor.
Mike went to Georgetown University where he studied Finance and International Business. He also serves on the Board of the Council for Economic Education and was a Fellow at the Kauffman Foundation.