PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Letter to U.S. Senate: Entrepreneurs and Small Businesses Need a “JOBS Act 3.0” Capital Boost 

By at 26 November, 2018, 8:11 pm

Dear United States Senator:

Small businesses and entrepreneurs are feeling upbeat about the economy and the outlook for their businesses. But as you know, access to capital is one of those enduring challenges that hinders startups, growth-oriented firms and small businesses that require capital to take advantage of growth opportunities. The 115th Congress can finish its work on a strong note by helping entrepreneurs and small businesses overcome this challenge. The JOBS and Investor Confidence Act – otherwise known as JOBS Act 3.0 – presents a bipartisan opportunity to do so.

JOBS Act 3.0 passed the U.S. House by an extraordinary vote of 406-4. The package is the culmination of many years of bipartisan collaboration and work and it would be a missed opportunity, and a disappointment to the entrepreneurial community, if the Senate did not act upon – and advance – this positive and powerful package of bills.

JOBS Act 3.0 will make a significant difference for our nation’s small businesses and entrepreneurs. Many provisions within JOBS Act 3.0 modernize and clarify federal rules and red tape, and make common sense fixes that will enable capital formation while helping to maintain and improve investor protections.

Small businesses and startups need a continuous flow of capital to launch, compete and grow, and JOBS Act 3.0 addresses an array of regulatory barriers and costs – from launching a firm to exit – that impede opportunity and growth.  The package will improve the competitiveness of U.S. capital markets and directly help entrepreneurs access the capital they need to start a business, buy a business, scale their firms, more effectively compete and expand, and exit more efficiently.

From clarifying regulations that help startups connect with investors at ‘demo days’ and networking events; to establishing ‘venture exchanges,’ which would provide a tailored trading platform for small issuers and emerging growth companies (EGCs); to extending existing regulatory relief to EGCs so these firms can use their capital for investment, growth and hiring rather than excessive compliance costs, JOBS Act 3.0 focuses on better regulatory solutions while directing future research so that our capital markets are the most modern and efficient for entrepreneurs and investors alike.

In this dynamic and global economy there are many opportunities for entrepreneurs and small businesses to take risks, expand and grow. Ensuring they have the capital they need to start a business or scale an existing business is critical for sustainable economic growth and our nation’s competitiveness.

JOBS Act 3.0 is a solid package that will make a significant and positive impact on the ecosystem for entrepreneurs. SBE Council is urging you to support JOBS Act 3.0 and become a strong advocate for its passage in the Senate.

Thank you, in advance, for your support of America’s entrepreneurs, small businesses and their hard working employees.

Sincerely,

Karen Kerrigan, President & CEO

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