Nydia M. Velazquez: “In today's business environment, one of the greatest obstacles blocking the path to prosperity for this Nation's small…”

“In today's business environment, one of the greatest obstacles blocking the path to prosperity for this Nation's small businesses is regulatory compliance. Small businesses regularly find themselves lost in a maze of Federal regulations that are designed to create safer and healthier workplaces. In fact, a recent poll ranked regulatory burdens as the seventh biggest concern for small businesses, and the Small Business Administration estimates those burdens cost up to $5,100 per employee. Small firms are less equipped to deal with regulations than large corporations. Business owners want to comply with regulations because they know that a safe and healthy workplace and environment makes them more productive. But often, they do not know how to comply or where they should start. Today, we take a big step in supporting our Nation's small businesses navigate the regulatory process with the passage of the National Small Business Regulatory Assistance Act. This legislation establishes a 3-year pilot program to provide confidential and nonpunitive advice to small businesses that are trying to weather a storm of complex Federal regulations.”