Indiana Gives Small Businesses A Voice In The Regulatory Process

Inc.com is reporting that Indiana is the third state to pass a law requiring state agencies to analyze the economic impact to small businesses when proposing rules and regulations. The other two states to pass such legislation are New Mexico and Virginia.

In addition to requiring state agencies to analyze the economic impact of the proposed rules and regulations, the law also requires these state agencies to evaluate alternative regulatory methods.

Regulatory flexibility laws are important to small businesses because they help reduce the costs and burdens that come with regulatory compliance. Hopefully, these three states are just the beginning of a nation wide trend to free small businesses from some of the regulatory stranglehold.