A better regulatory environment is ahead for Tennessee’s 513,000 small businesses, thanks to a new law signed by Governor Phil Bredesen. Tennessee’s Regulatory Flexibility Act of 2007 will set the stage for a more transparent regulatory environment for small businesses in the state and encourage entrepreneurial success.
The Act requires state agencies to analyze the economic impact of a proposed rule on small businesses and to consider less burdensome alternatives that will accomplish the regulatory goal.
Thanks to the key business groups supporting the legislation, which included the National Federation of Independent Business (NFIB) and the Tennessee Jobs Coalition, which includes a number of leading member organizations.
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