NEWSRELEASE
For Release: June 7, 2002
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Oklahoma Takes Major Step For Small Business
Governor Keating Signs Small Business Regulatory Flexibility Act
WASHINGTON, D.C. - Oklahoma today took a major step in promoting job-creating small business, as Governor Keating signed the Oklahoma Small Business Regulatory Flexibility Act. Modeled on its federal counterpart, the measure ensures that Oklahoma’s small businesses are given a fair hearing when new state regulations are considered.
The new law creates the Small Business Regulatory Review Committee within the Oklahoma Department of Commerce. The committee is charged with reviewing new regulations that adversely affect small business. Once reviewed, the committee will work with Oklahoma agencies to find less restrictive alternatives and creative, innovative, and flexible means for small businesses to comply with the goals of the new regulations.
“With Governor Keating’s signature, Oklahoma has joined a select group of states that recognize the importance of small business to their economy,” said Thomas M. Sullivan, Chief Counsel for Advocacy. “Lots of people talk about the importance of small business, but Oklahoma is one of the states that have acted. Oklahoma is lucky to have strong bipartisan support for small business in Senator James Maddox and Representatives Bob Plunk, Jari Askins and Kevin Calvey, the original co-sponsors of the Act,” he continued.
Among provisions favorable to small business, the Act allows small businesses adversely affected by regulations to file written petitions, under certain conditions, asking that the rules be amended, revised, or revoked.
“The Oklahoma Small Business Regulatory Flexibility Act shows what we can accomplish when we work together in a bipartisan manner,” said Governor Keating. “Small business is central to our economic well-being, and this Act will help keep it strong and healthy,” he said.
The Act confirms the importance of small business to Oklahoma’s economy. In 2000, according to Office of Advocacy research, 98.3 percent of Oklahoma’s businesses were small businesses. They employed 49.3 percent of the state’s workforce and generated $18.4 billion in income. Additionally, 343,000 Oklahomans were self-employed in 2000.
For more information, visit the Office of Advocacy website at http://www.sba.gov/advo.
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Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The Chief Counsel for Advocacy, who is appointed by the President and confirmed by the U.S. Senate, directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Issues are identified through economic research, policy analyses, and small business outreach. The Chief Counsel’s efforts are supported by offices in Washington, D.C., and by Regional Advocates. For more information on the Office of Advocacy, visit http://www.sba.gov/advo, or call (202) 205-6533.