Ashlyn Roberts, Prism Group
In the 2023 midterm elections this week, there was surprise resilience for Democrats nationally and at the state level, a denunciation of former President Trump, a narrow (~6) margin for GOP control for the House, and a Senate contest that will drag through the holidays. We expect many races—especially Senate races in battleground states such as Arizona, Nevada, and Georgia—to remain uncalled for several days or even weeks. Legal challenges and recounts are likely in these states, with a January runoff likely in Georgia. Read more on the state of the election here and stay up to date on developments through the coming weeks.
Entrepreneurs Celebrated Worldwide During Global Entrepreneurship Week
We are celebrating National Entrepreneurship Month in November and the week of November 14-20, 2022 marks Global Entrepreneurship Week. Global Entrepreneurship Week is a massive campaign to celebrate and empower entrepreneurs in every country and community around the world – especially those individuals who face structural barriers. Every year in November, 10 million people take part in tens of thousands of activities, competitions and events that inspire them to act and provide them with the knowledge, experience and connections they need to succeed. Learn more about how to get involved in Global Entrepreneurship Week here.
AWBC Sent WOSB & WBC Sign-on Letter to Congress
In support of the Senate Small Business Committee’s introduction of the Women’s Business Center Improvement Act of 2022, AWBC sent a sign on letter, with nearly 1250 women entrepreneurs signatures and 146 WBC signatures, supporting Senator Ben Cardin’s (MD) leadership around its introduction and complementary legislation passed by the House of Representatives, H.R. 6441, earlier this year, introduced by Representatives Sharice Davids (D-KS) and Claudia Tenney (R-NY).
AWBC Submitted Comment on Treasury’s SSBCI TA
AWBC submitted a commend in response to the Treasury Department’s request for information on how Treasury can use its authorities to fund technical assistance (TA) to very small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses) applying to SSBCI credit and investment programs and other jurisdiction and Federal programs that support small businesses.
SBA Information Session on Veteran-Owned Small Business (VOSB) Certification
As an extension of National Veterans Small Business Week 2022, which took place from October 31 to November 4, 2022, the Associate Administrator for the SBA’s Office of Veterans Business Development, Larry Stubblefield, will host an information session on Tuesday, November 8, 2022 at 2:00PM ET, on the upcoming migration of the Center for Verification and Evaluation (CVE) from the U.S. Department of Veterans Affairs (VA) to the SBA. This online session will share how the process is going and its impact on veteran-owned small businesses seeking VOSB certification. Click here to register.
Deputy Secretary Adeyemo Convenes Roundtable Discussion on Small Business Priorities for an Improved and Modernized IRS
This month, U.S. Deputy Secretary of the Treasury Wally Adeyemo convened a roundtable discussion with small business stakeholders from across the country to identify ways in which a modernized IRS can deliver improved service for the small business community. Discussion focused on the importance of improved customer service and the need for a tax administration that can communicate easily across digital platforms. Deputy Secretary Adeyemo expressed enthusiasm to improve the avenues for communication between the small business community and IRS employees and that small businesses see the efforts of the agency’s IT modernization efforts.
USPTO Women’s Innovation Report
A new report was released by the United States Patent and Trademark Office last week titled, “Where are U.S. women patentees? Assessing three decades of growth,” which identifies counties with the most women patentees by technology field and assesses three decades of growth and characteristics of county economic environments that are correlated with having and increasing the number of women inventor patentees.
SBA Proposed Rule on the Requirements for the 8(a) Business Development Program
The Small Business Administration (SBA) published a proposed rule that would make many significant changes to the 8(a) Business Development Program. In addition to changes to the SBA’s 8(a) program requirements, this rule proposes changes to the Women-Owned Small Business (WOSB) and HUBZone programs, subcontracting, protests, and more. AWBC commented on the proposed amending the definition of WOSB to enable additional woman business owners to become eligible for 8(a) certification.
SBA Accepting Nominations for 2023 National Small Business Week Awards
SBA is accepting nominations for the 2023 National Small Business Week Awards, which will take place April 30 – May 6, 2023. The deadline for submissions is December 8, 2022, at 3:00 p.m. ET. Among the awards, include:
- Small Business Person of the Year
- Small Business Exporter of the Year
- Federal Procurement Award – Small Business Prime Contractor of the Year Award
- Federal Procurement Award – Small Business Subcontractor of the Year Award
ICIC RFI on Opportunities and Challenges in Federal Community Investment Programs
Interagency Community Investment Committee (ICIC) issued a notice and request for information on how the ICIC can promote economic conditions and systems that reduce racial disparities and produce stronger economic outcomes for all communities. Responses are due December 5, 2022 and may be used to inform ICIC’s future actions to improve the operations and delivery of federal community investment programs through stronger federal collaboration.
NLRB Proposed Rule on Joint Employer
The National Labor Relations Board issued a Notice of Proposed Rulemaking to rescind and replace the “Joint Employer” Status Under the National Labor Relations Act. This NPRM would have an impact on small businesses who are franchise owners, as it would increase liability on franchisees for workplace violations taking place at the individual location level and would consider franchise employees to also be employees of the larger brand. NLRB is seeking the submission of comments, due December 7, 2022, from stakeholders on the impact of the proposed changes in this rule.
Request for Comment on the NPRM’s Employee or Independent Contractor Classification Under the Fair Labor Standards Act
The Wage and Hour Division within the Department of Labor issued a Notice of Proposed Rulemaking (NPRM) to modify Wage and Hour Division regulations to revise its analysis for determining employee or independent contractor classification under the Fair Labor Standards Act (FLSA) to be more consistent with text and judicial precedent. The comment period for the Employee or Independent Contractor Classification Under the Fair Labor Standards Act has extended to December 13, 2022 to provide interested parties additional time to submit comments.
SBA Proposes Reforms to Expand Access, Strengthen and Diversify the Small Business Investment Company Public-Private Investment Partnership Program
SBA published a proposed rule, SBIC Investment Diversification and Growth, to reduce financial barriers and increase access and diversity in the U.S. small business investment ecosystem. SBICS, Small Business Investment Companies, are privately owned and managed investment funds that are regulated and licensed by the SBA that make equity and debt investments in certain small businesses. Comments for this rule are due on December 19, 2022.
SBA Issues Proposed Rule to Lift SBLC Moratorium
The Small Business Administration (SBA) issued a proposed rule to expand its lender base by lifting the moratorium on new Small Business Lending Companies (SBLCs), which would allow new lenders to apply for a license to offer SBA-backed 7(a) small business loans. The SBA’s objective for this policy change is to grow the number of lenders that receive its loan guarantee, thus increasing small business lending, particularly in smaller-dollar and underserved markets, where borrowers are most acutely shut out of current lending. Comments for this rule are due before January 6, 2023.
The Federal and State Technology (FAST) Partnership Program has funded 44 organizations this year, building the SBIR/STTR ecosystem through outreach, technical assistance, and financial support. The program provides funding to organizations to execute state/regional programs that increase the number of SBIR/STTR proposals leading to an increase in the number of SBIR/STTR awards from women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas – typically rural states. Find more information regarding local assistance and all 44 awardees at: sbir.gov/local-assistance.
MBDA TA for Underserved Entrepreneurs Expected This Year
Using funds made available through the ARP, the Minority Business Development Agency (MDBA) will issue a $100 million notice of funding opportunity to provide technical assistance grants for entrepreneurship technical assistance providers to help businesses owned by socially and economically disadvantaged individuals (SEDIs) launch, scale and connect with growth capital.