NOVEMBER ADVOCACY UPDATE
Thank you to all who joined this month’s call on the 2023 Advocacy Agenda. We will skip the December meeting due to the holidays. However, I will share the archived video as soon as it is uploaded to our YouTube channel! Also, save the date for our first call in 2023, where we will preview the Advocacy Agenda for feedback on January 17, 2023, at 12 PM ET.
NAWBO represented YOU and YOUR members at various Advocacy events over the past few weeks, such as:
- Roundtable discussion with Under Secretary Jose Fernandez on Economic Growth, Energy, and the Environment of the U.S. Department of State to discuss President Biden’s Americas Partnership for Economic Prosperity,
- White House Briefing on Investments in Manufacturing Through the State Small Business Credit Initiative,
- White House Listening Session on the Supply Chain,
- White House IRS and IRA Virtual Roundtable, and
- SBA Office of Advocacy Virtual Roundtable to discuss the Department of Labor’s proposed rule on Independent Contractor Classification Under the Fair Labor Standards Act.
More Feedback Requested:
THE LAST CHANCE TO TELL YOUR STORY IS MONDAY, NOVEMBER 20th!!
DOL Independent Contractor Rulemaking
The U.S. Department of Labor is proposing to modify Wage and Hour Division regulations to revise its analysis for determining employee or independent contractor classification under the Fair Labor Standards Act (FLSA or Act) to be more consistent with judicial precedent and the Act's text and purpose.
Specifically, the proposed rule would do the following:
- Align the department's approach with the courts' FLSA interpretation and the economic reality test.
- Restore the multifactor, totality-of-the-circumstances analysis to determine whether a worker is an employee or an independent contractor under the FLSA.
- Ensure that all factors are analyzed without assigning a predetermined weight to a particular factor or set of factors.
- Revert to the longstanding interpretation of the economic reality factors. These factors include the investment, control, and opportunity for profit or loss factors. The integral factor, which considers whether the work is integral to the employer's business, is also included.
- Assist with the proper classification of employees and independent contractors under the FLSA.
- Rescind the 2021 Independent Contractor Rule.
NAWBO will send comments and would appreciate your feedback on the proposed rule.
- Last night, the AP called the 218th seat for Republicans — projecting Rep. Mike Garcia (R-CA-27) to win reelection. While the official count may not be confirmed for another few weeks as six races are still ongoing, the Republicans currently lead with 218-211, gaining eight seats this election cycle (so far). Later today, House Speaker Nancy Pelosi announced she would step down as House Democratic Leader—the end of an era for not only the Democratic party but also women in politics.
- We are now headed to a lame-duck session ahead of the 118th Congress. Depending on what happens with the Georgia seat in the December runoff (Walker vs. Warnock), the Vice President may still weigh in as the tiebreaker vote in the Senate in the 118th Congress.
Biden Administration Updates:
Virtual Coffee on Cybersecurity
Cyber-attacks are a growing concern for small businesses. Common threats include malware, ransomware, and phishing. Join the Small Business Administration and Dakota State University for a discussion on cybersecurity defense and recovery services currently available for small businesses on Monday, November 21, 2022, at 10:00 AM CST. As the holiday shopping season kicks off, it’s an excellent time for small business owners to increase measures to keep their business and customers cyber-safe! Join Via the Teams Live link at http://ow.ly/AXR250LCHiu
Register for SBA's Money Smart Webinar Wednesdays to get Financially Fit in Six Weeks
Are you Money Smart? Get financially fit in 6 weeks when you join the SBA's virtual business training program for aspiring and existing entrepreneurs on the financial basics of starting and growing a business. All classes are offered Wednesdays from 12:00 p.m. to 1:00 p.m. ET, with time allocated for a live Q&A. The sessions are not recorded.
BONUS! Selling Your Business & Succession Planning - Wednesday, November 30 This module overviews selling a small business and succession planning. It is designed to help participants understand how selling a business can benefit their business. Register Here
- Online Managing Cash Flow
Wednesday, November 30, 2022, 1:00 - 2:00 p.m. CST Register
After completing this training, the participants will be able to:
- Describe the purpose of cash flow management in a start-up small business.
- Assess a cash flow cycle and make some cash flow projections.
- Describe how a cash flow statement can help assess and improve the financial health of a start-up.
- Identify some ways to manage cash flow in terms of managing costs and potential income.
- Identify ways to seek out expert technical assistance to improve cash flow management.
Doing Business with the Federal Government
Tuesday, December 6, 2022, 9:00 - 10:00 a.m. CST Register
This presentation will help you understand the essential elements of the Federal Acquisition Regulations, more commonly known as the FAR. This presentation will include what the FAR is, what it covers, and how it is structured. We will discuss the various notable FAR clauses and their meanings and explain some of the main supplements to the FAR, especially the Defense Federal Acquisition Regulations or the DFARS. Finally, we will discuss how the FAR is woven into government contracts and guides each step of the government acquisition process, even if not explicitly referenced. By the end of this presentation, you will have no reason to fear the FAR!
Small Business Facts: Reasons for Being an Owner
While there are multiple reasons to own a small business, most firm owners cite wanting to be their boss and making more money as important reasons for owning their own business. Self-employment is mainly driven by opportunity, with 56% of owners with employees saying that starting a business was the best avenue to make their products. The top reason women became business owners was work and family balance. The reasons to own a company have not changed much over time, with data from 2019 matching that from 2014. Read “Small Business Facts: Reasons for Running a Business.”
Nominate Your Business for a 2023 National Small Business Week Awards
2023 National Small Business Week (NSBW) Awards recognize SBA-assisted small businesses' inspirational achievements and contributions to their communities and our nation's economy. All nominations should be submitted electronically by 3 p.m. ET on December 8, 2022.
For over 50 years, the SBA has celebrated National Small Business Week, which recognizes the critical contributions of America's entrepreneurs and small business owners. To nominate a small business owner or champion, download related forms, criteria, and guidelines and visit sba.gov/nsbw. Nominations for the following categories will be accepted:
- Small Business Person of the Year
- Small Business Exporter of the Year
- Phoenix Awards for Disaster Recovery
- Federal Procurement Awards
- Awards to SBA Resource Partners
- Small Business Investment Company of the Year
- Link to January webinar here, and PowerPoint is found here.
Want to hear more about NAWBO Advocacy efforts or get involved? Contact Elle Patout via email at firstname.lastname@example.org.