Small Business Regulatory Compliance
In 1996, Congress passed the Small Business Regulatory Enforcement Fairness Act in response to concerns expressed by the small business community that federal regulations were too numerous, complex and expensive to implement. The Act was designed to give small businesses assistance in understanding and complying with regulations and more voice in the development of new regulations.
In May 2007, President Bush signed into law the Small Business Compliance Assistance Enhancement Act of 2007. The Act proposes to:
- Clarify the requirements that agencies would have to meet.
- Ensure that the guides are useful to small businesses and other small entities.
- Clarify that the guides should be published simultaneously with the final agency rule or as soon as possible after publication.
- Require agencies to report annually to Congress on how they are meeting the requirements of this Act.
There are many web sites that provide compliance assistance to businesses, including:
FEDERAL LABOR LAW POSTERS:
www.dol.gov/general/topics/posters
ALABAMA EMPLOYMENT LAW POSTERS:
https://labor.alabama.gov/business/default.aspx
FEDERAL EMPLOYMENT LAW:
https://webapps.dol.gov/elaws/?_ga=2.152188272.855174769.1671143718-1068706248.1671143718
EMPLOYEE RETIREMENT INCOME SECURITY (ERISA):
www.dol.gov/general/topic/health-plans/erisa
GOVERNMENT CONTRACTING:
www.sba.gov/federal-contracting
EQUAL EMPLOYMENT OPPORTUNITY (EEO) REQUIREMENTS:
www.dol.gov/dol/topic/discrimination
OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION (OSHA):
www.osha.gov/dcsp/smallbusiness/benefits.html
OSHA PUBLICATIONS FOR SMALL BUSINESS:
www.osha.gov/pls/publications/publication.html
OSHA HELP FOR NEW BUSINESSES:
www.ehso.com/OSHA_IntroSBS.htm
For OSHA compliance, every small business should know:
- Federal and/or state regulations (Alabama employers must comply with OSHA).
- Businesses with one or more employee(s) are regulated by OSHA.
- There are fewer record keeping requirements for very small businesses.
- Which OSHA standards apply to their business and how OSHA enforces these standards.Small Business Development Centers have partnered with OSHA consultation programs to help small businesses know and comply with safety and health regulatory requirements.
- Benefits for businesses include protecting the worker, thus decreasing worker's compensation costs and ensuring compliance with OSHA. OSHA penalties could be detrimental to the profits of a small business.
INTERNAL REVENUE SERVICE (IRS):
www.irs.gov/Businesses
IRS compliance for small business includes knowledge of:
- Federal tax regulations.
- Basic IRS Requirements - responsibilities including the impact of regulations on business profitability.
- Employment Taxes - provides detailed instructions for filing important tax records.
- Record Keeping - in depth information on how to keep good business records.
- Depreciation - helps small businesses understand how to claim deductions for business equipment and vehicles.
- IRS enforcement practices - how to comply with tax requirements.Where to find IRS compliance assistance, whether by consultation or helpful web sites.
ENVIRONMENTAL PROTECTION AGENCY (EPA):
www.epa.gov/compliance
Environmental compliance for small businesses includes knowing:
- Federal, state and local regulations may apply.
- Compliance is not just for large companies, businesses may be subject to regulations regardless of size.
- Businesses may face requirements for material handling, waste disposal, wastewater, storm water, used oil, air emissions, record keeping, training and reporting.
- Compliance costs impact operating costs.
- Consequences of violations and liability exposures.
- Where to find compliance assistance, resources and services.
- Pollution prevention can result in the use of less hazardous materials, enhanced operational efficiency and reduced waste, discharges and emissions.
Small Business Development Is A Chamber priority. If you have questions or need additional information, please contact the Chamber at (334) 792-5138.