This bill creates a new recognition program run by the Small Business Administration (the federal agency that helps small businesses). Every year, the SBA will give out awards to three state or local governments that come up with smart, creative ways to make it easier for people to start new businesses in their area. The awards recognize governments that successfully cut through red tape and simplify the paperwork and processes involved in launching a business. For example, a city that creates an online portal where entrepreneurs can handle all their startup paperwork in one place, or a state that speeds up licensing approvals, could be recognized. The goal is to highlight and celebrate the best practices that help new business owners get up and running faster, and hopefully encourage other communities to adopt similar streamlined approaches.

Supporting NEW BUSINESSES Act

Cortez Masto, Catherine

Supporting New Entrepreneurs and Workers By Undoing and Streamlining Inhibitors to Nascent Enterprises through Supporting Successful Efficiency Solutions Act or the Supporting NEW BUSINESSES Act This bill requires the Small Business Administration to annually provide awards recognizing three state or local governments that implement innovative and effective policies or tools to streamline processes related to the formation of small business in their communities.