Fiscal year 2016 was a milestone in the Office of Advocacy’s history, signaling 40 years since the office’s founding. Today, the SBA Office of Advocacy released its annual report, Report on the Regulatory Flexibility Act, FY 2016. The report analyzes federal agency compliance with the Regulatory Flexibility Act (RFA), as well as with provisions of the Small Business JOBS Act of 2010 and Executive Order 13272, “Proper Consideration of Small Entities in Federal Rulemaking.”
Resource Category: Policy
Business Ownership And The Racial Wealth Gap
African Americans & Latinos/as face high barriers to starting and growing businesses, including lower levels of financial assets. What steps can we take to address this?
Closing the Ever-Growing Gap
CFED released “Administrative Actions to Close the Ever-Growing Gap.” This document describes seven administrative policy proposals President Trump could take that would help solve the problems of financial insecurity, wealth inequality and the growing racial wealth divide.
Freelancing in America 2016
2016 is the third year we have conducted “Freelancing in America” – the most comprehensive measure of the U.S. independent workforce available. Going into this year’s survey, we already knew that millions of Americans today are choosing to be part of the independent workforce, driven by freedom and flexibility. Moreover, technology is making it easier to find freelance work, making freelancing an increasingly popular way to work and live.
Amazon and Empty Storefronts
Civic Economics new report – Amazon and Empty Storefronts – looks at two broad classes of impact: Fiscal (relating to public revenue) and Land Use (relating to development patterns at the local level).
Monopoly Power and Small Business
The Institute for Local Self-Reliance issued a new report that suggests a troubling explanation for the dwindling ranks of small businesses. “Drawing on examples in pharmacy, banking, telecommunications, and retail, it finds that big companies routinely use their size and their economic and political power to undermine their smaller rivals and exclude them from markets.”
Fast Facts on the California Economy
Check out the Fast Facts on California Economy published by the Assembly Committee on Jobs, Economic Development and the Economy (JEDE). The state has the 6th largest economy in the world with a $2.45 trillion GDP, July 2016.
The New Business Lending
Opportunity Fund released a very important research report, “Unaffordable and Unsustainable: The New Business Lending on Main Street.” Until now, we have been relying on stories to explain what’s happening with online lending. Now we’ve got some data on the loans and cash advances being offered to small businesses by short-term, high-cost alternative lenders. Cliff notes on findings: 94% interest rates; average payment is 1.78x income -YIKES.
Microbusinesses, Gainful Jobs
Read FIELD’s new report Microbusinesses, Gainful Jobs. They found that workers value the flexibility, fulfillment, and skill-building opportunities offered by their microbusiness jobs and 63% of respondents made wages at or above President Obama’s proposed increase to the minimum wage. They also found out that there’s a 1-5 cost-benefit ratio for micro business development (for every $1 of grant money spent on microbusiness development, $5 is created in economic activity) and microbusinesses create opportunity for those that struggle the most.
Barriers to Women’s Entrepreneurship
Women entrepreneurs still face challenges getting fair access to capital. Only 4 percent of the total dollar value of all small business loans goes to women entrepreneurs. The report proposes expanding microloans and makes SBA’s Intermediary Loan Program permanent to provide more capital to women entrepreneurs.