Recognizing the impact small businesses have on the state’s economy, Lt. Gov. Charles Fogarty has announced the creation of a permanent small-business advocate position at the R.I. Economic Development Corporation.
The new position is an extension of legislation written at Fogarty’s urging by Sen. Leo Blais, R-Coventry, and Rep. Brian Patrick Kennedy, D-Hopkinton, and put into effect last year.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
Louis Soares, current manager of small-business services at the EDC and project manager of the Every Company Counts initiative, will continue his work on behalf of the small-business community in a more formal role, according to Fogarty. There will be no additional staff added at the EDC.
“By establishing a permanent small-business advocate within the EDC, we are sending a strong message that this state recognizes what government does has an impact on their day-to-day operations and considers their needs just as important as the needs of larger companies,” Fogarty said in a release.
Based on legislation recommended by the U.S. Small Business Administration, the original law, the Regulatory Flexibility Act, requires the EDC to examine proposed regulations that impact small businesses and analyze the proposed changes against viable alternatives that could accomplish the same goal. The law also allows for judicial review of regulatory decisions and a periodic review of all state rules and regulations.
Soares will be responsible for hearing concerns raised by small businesses about new guidelines and sharing those issues with the appropriate agencies.
After passing the original Regulatory Flexibility Act last year, Kennedy said there was concern that small businesses would be “severely impacted when state agencies pass new rules and regulations.” Oftentimes, businesses would only learn about the new guidelines when they were in violation, he said.
The new statutory requirement sends a “strong message that the state does rely on small businesses,” said Kennedy, noting the boost they provide the economy in terms of jobs and tax revenue.
The new position will provide a safeguard to ensure the regulatory system is not oppressive on small businesses but enhances economic growth, said Fogarty.
The state must “provide a fertile environment in which businesses can grow and expand,” he said.
