All About the One Stop Shop for Small Business Compliance Act
As a small business owner, you likely understand how challenging it can be to keep up with the ever-changing landscape of federal rules and regulations. But just recently, President Biden signed into law a bipartisan act to help make it easier for small businesses to access the information they need to stay compliant. The One Stop Shop for Small Business Compliance Act of 2022 “requires the Small Business and Agriculture Regulatory Enforcement Ombudsman to create a website compiling small entity compliance guides and contact information for individuals who can assist small entities with each guide.” Let’s break down what this means for you.
Today, federal agencies are required to publish small business compliance guides for some regulations, but there is no central location for those guides to be housed. This leaves small business owners with the onerous task of figuring out which agency websites to access in order to know what they are being asked to comply with. When federal laws get updated, small business owners aren’t often aware of this and the new responsibilities they now have. The “One Stop Shop” act aims to consolidate the resources that business owners need to access via a digital portal. There will also be a list of contact details for the appropriate agencies in case folks need regulatory help.
It’s the task of the Small Business Administration’s Office of the National Ombudsman to create (and subsequently maintain) this website within a matter of six months.
U.S. Senator John Cornyn and U.S. Representative Beth Van Duyne, both of Texas, are co-authors of the bipartisan legislation. About the bill, Senator Cornyn says on his website “Small business owners have enough administrative tasks on their plate without the added burden of tracking federal regulations that are continually updated. By creating an easily-accessible and comprehensive website, this bill will ease the regulatory burden on small business owners and reduce the amount of time they spend navigating red tape, and I am grateful to Rep. Van Duyne and our colleagues in Congress for helping get this legislation across the finish line.”
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