President Barack Obama signed an executive order this week that intends to alleviate the regulatory and compliance burdens faced by the nation's small businesses.
Citing the need to improve the economic environment for small businesses, the order, "On Improving Regulation and Regulatory Review," will have federal agencies conduct a government-wide review of regulations, removing outdated ones and weighing the cost-benefit of others.
Perhaps symbolically nodding at his desire to improve ties with the business community, the president made the announcement in an op-ed for the Wall Street Journal - a newspaper that has routinely criticized Obama's policies toward business.
"Small firms drive growth and create most new jobs in this country," Obama wrote. "We need to make sure nothing stands in their way."
Meanwhile, other organizations and small business advocacy groups have voiced their approval of the measure, pointing out that the order will alleviate the burdens facing small businesses seeking incorporation in New York, California and every other state.
"I applaud President Obama's efforts today to reduce excessive and unjustified regulatory burdens on small business," said Chief Counsel for Advocacy Winslow Sargeant said in a statement Wednesday. "The Office of Advocacy looks forward to continuing to work closely with federal agencies and small business to design cost-effective, evidence-based regulations that are compatible with economic growth, job creation and competitiveness."
Tags : business licenses & permits, formation, incorporation news, small business management
Posted: Jan 19th, 2011