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When Governor Mark Sanford signed into law the Small Business Regulatory Flexibility Act, it gave small businesses a unique opportunity to identify existing state agency regulations that adversely affect their companies.
The Act established the Small Business Regulatory Review Committee; that group is now active and eager for South Carolina�s small businesses to know that when they have a concern about a regulatory matter, the Committee is there to provide assistance. The Committee is focused on 1) giving small businesses the opportunity to voice their concerns about the adverse impact of agency regulations and 2) the ability of state agencies to address these concerns. "Improving the underlying economic climate for South Carolina's small businesses continues to be one of the core goals of this administration," Gov. Mark Sanford said. "Small businesses are the backbone of job growth in our state, and we need to be doing everything we can to stimulate their growth and development." Ninety-five percent of the nearly 95,000 employer firms in South Carolina have 50 or fewer employees. The Regulatory Flexibility Act and the Review Committee recognize that the success and growth of small business is essential to the success and growth of South Carolina. Companies that have a regulatory issue with a state agency and need help can do one or more of the following:
When an issue is brought to the Committee, the group can request the promulgating agency to prepare an economic impact statement and a regulatory flexibility analysis to assess the regulation�s potential impact. The Committee can then request the Office of Research and Statistics of the Budget and Control Board to issue a final assessment report. To perform its mission, the Committee must receive input from small businesses on what existing agency regulations need to be reviewed, and also create and perpetuate a good working relationship with state agencies in an effort to change regulations that may hurt small businesses. The Committee is composed of small business owners and consists of 11 permanent and two ex-officio members. The Governor, President Pro Tempore of the Senate, and Speaker of the House of Representatives appoint the permanent members. The ex-officio members are chairmen of their respective Senate and House Committees on Labor, Commerce and Industry. �Laws such as the Small Business Regulatory Flexibility Act work hand in hand with the South Carolina Competitiveness Initiative to help our state attract and retain small businesses,� said Secretary of Commerce Bob Faith. �With a pro-business environment, small businesses can thrive and stimulate the state economy.� (Image provided by South Carolina Department of Commerce.)
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