Getting Out of the Way of Small Businesses
Small businesses are the lifeblood of Nebraska’s economy, making up over 99% of private sector job creators. As any entrepreneur or small business owner knows, running a small firm can be challenging. Business owners often take on multiple roles out of necessity, juggling accounting, management, marketing, human resources and other key aspects of running a small enterprise.
Navigating laws and regulations is one of the keys to getting a business off the ground. But when it comes to working with the federal government, small business owners often feel like David taking on Goliath. There’s lots of red tape and bureaucracy, and the amount of time it takes just to understand federal programs can consume valuable resources that would be better spent elsewhere.
As a member of the Small Business Committee, I’ve been looking out for ways to help small businesses cut through red tape and to ensure that the federal government isn’t creating unnecessary barriers for the job creators who are powering our economy. Here’s a few of the areas I’ve been focused on in recent months.
Over the last few months, I successfully co-led efforts in the House to renew the State Trade and Export Program (STEP). STEP provides financial awards to states to assist small businesses with export development. STEP is an important program that provides small businesses with grants to help them develop overseas markets for their products. This renewal reauthorizes the program for four fiscal years.
Businesses right here in the First District are creating jobs using STEP. For example, Paraclipse Systems, LLC based in Columbus, Nebraska manufactures non-intrusive fly control products that you can install in your home. With a $10,000 investment, Paraclipse was able to expand its sales and create 14 jobs. I’m pleased to say that the legislation renewing STEP has cleared the House and moved to the Senate for approval.
In recent weeks, I introduced my first bill, which is called the Connecting Small Businesses Act. It aims to cut red tape for small business owners. While the JOBS Act of 2012 provided new opportunities for small businesses to raise capital from investors, many businesses remain unaware of the variety of capital-raising options available to them. This bill requires the Small Business Administration to produce educational materials on some of those JOBS Act regulations. It’s my hope that more awareness will help more small firms access this program that can connect them with the capital they need to create more jobs.
During a recent Small Business Committee hearing, I hosted a business leader from Lincoln to highlight the effect of inflation and supply issues on their company’s work in the construction industry. At the hearing, Scott Lockard, President of Construction at Hampton Enterprises, shared that “inflation issues… are very real especially for our small businesses. It’s not a political term. It’s something we face every day—inflation and rising costs.” This is just a small snapshot of testimony from one of two Nebraskans who appeared at the hearing. You can watch the full hearing to get their perspective at www.flood.house.gov.
These are just a few of the ways we are working to help small business owners across the First District. Whatever your challenge with the federal government may be, my team is ready to assist. Whether you’re a small business owner, veteran, retiree, or young professional, we are ready to help you with matters regarding federal agencies, military academy nominations, scheduling requests and any other needs you might encounter. You can call 402-438-1598 or visit my website at https://flood.house.gov to contact my team. We look forward to hearing from you!