Washington Watch - February 12, 2014


Washington Watch - February 12, 2014

Confirmation Hearing for Nominee to Head SBA

On Wednesday, February 12, 2014, the Senate Small Business and Entrepreneurship Committee held a confirmation hearing for the President’s nominee to head the Small Business Administration (SBA), Maria Contreras-Sweet.

Ms. Contreras–Sweet has significant accomplishments in the private sector. She is currently the Executive Chairwoman of ProAmérica Bank, a Los Angeles–based community bank focused on lending to small and medium–size enterprises. Before she founded ProAmérica Bank, she opened an international management consulting firm called the Contreras-Sweet Company which soon landed Disney, Coca Cola, and the Getty Museum. She was also president and co-founder of Fortius Holdings, LLC. The success of ProAmérica Bank and her work with other business ventures, demonstrate Ms. Contreras–Sweet’s expertise in addressing the unique needs of the business community.

The NASE supports the nomination of Maria Contreras-Sweet to serve as SBA Administrator.

NASE’s statement of the nomination of Maria Contreras-Sweet

ACA Employer Mandate Delay for Businesses With 100 or less Employees

On Monday, February 10, 2014, the U.S. Department of Treasury announced that it would delay the employer mandate provision of the Affordable Care Act for businesses with 100 or less employees- in all a total of a two-year delay for employers of this size (previously the Administration delayed the employer mandate for all businesses until 2015).

The NASE renews its call to delay the individual mandate penalty for one-calendar year, extend open enrollment, allowing America’s 23 million Smallest Businesses to have the flexibility to identify the best plan for them, their business, and family, without the threat of financial punishment.

NASE Renews Call for Delay of Individual Mandate Penalty

NASE Provides Valuable Feedback on Crowdfunding Proposal

On February 3, 2014, the National Association for the Self-Employed submitted a comment letter to the Securities and Exchanges Commission in support of recommendations made by the Association for Enterprise Opportunity to help finalize rules as it relates to Crowdfunding.

"The NASE believes that crowdfunding is an exciting avenue for both new entrepreneurs and established small businesses to raise needed capital to launch or grow a small business. At present, nearly 48 percent of the self-employed and micro-businesses are utilizing personal or retirement savings to keep their businesses afloat, accordingly to a 2012 poll of NASE Members. Furthermore, friends and family have been a primary source of funding for many new entrepreneurs. Crowdfunding will bring together this age-old approach to financing with technology and investment practices, allowing small-business owners and aspiring entrepreneurs the opportunity to reach out to their communities, investors and the world to secure necessary funding to start and expand their business."

Read the NASE's complete comment letter on proposed rules regarding Crowdfunding and the recommendations put forth by the Association for Enterprise Opportunity supported by the NASE.

Washington Watch Online

Visit NASE Advocacy to view archived editions of Washington Watch. While you’re there, read the latest updates from the Washington, D.C. office, write your Congressperson, and find out how you can join the fight for micro-business.

Courtesy of NASE.org