Virginia Considers Regulatory Flexibility for Small Business

The state of Virginia is one of the states currently considering regulatory flexibility for small businesses.
The SBA Office of Advocacy and NFIB are supporting enactment of such legislation across the country. “In the last two years twelve states implemented regulatory flexibility for small businesses through legislation or executive order. Several bills supporting regulatory flexibility are pending before the Virginia General Assembly.”
A recent study from the Office of Advocacy found that small businesses spend over $7,000 per employee per year to comply with federal legislation and regulation, while larger business spend about $4,400 per employee.
The Small Business and Entrepreneurship Council has published a study that ranks each state’s regulatory and policy environment for small businesses. Virginia ranked 15th in this study.