Virginia is the latest state to pass regulatory flexibility for small businesses, thanks to a new law that gives Virginia’s small businesses a voice in the state’s regulatory process.
“Virginia’s small business owners now have a seat at the table when regulatory decisions are made,” said Thomas M. Sullivan, Chief Counsel for Advocacy.
Passage and signing of Virginia’s Small Business Regulatory Flexibility bill resulted from Virginia small business stakeholders working together in a coalition. Virginia’s Small Business Regulatory Flexibility bill implements elements of small business friendly regulatory legislation put forward as a model by the Office of Advocacy of the U.S. Small Business Administration. Similar to the federal Regulatory Flexibility Act (RFA), it encourages entrepreneurial success by requiring state agencies to consider the impact of their policies on small business before they issue final regulations.
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