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The Business Council of NYS, representing over 3,000 member businesses, with 76 percent of our membership consisting of small businesses, strongly supports A.11046 (Buttenschon)/S.6023 (Baskin) which would require the Division for Small Business to create a compliance guide for small businesses and update it yearly.
Small businesses often do not have the capacity to continuously monitor and comply with ever changing regulations of New York laws as information on how to achieve compliance is not centralized and often difficult to find. This lack of centralized information can lead many businesses to be out of compliance which can lead to serious fines or other more sever legal actions.
The U.S. Chamber surveyed 750 small businesses in 2024 on how keeping up with regulatory compliance impacts their businesses. This survey found that 65 percent of small businesses pay consultants to assist with compliance and 69 percent of small businesses hire outside legal counsel. While this will not completely eliminate the need to hire outside consultants and counsel, this will at least bring those costs down and also cut time dedicated to searching for guidance.
Regulatory compliance is already time-consuming and costly, especially for small businesses. A compliance guide will be a great relief to many businesses and provide many with the opportunity to shift their focus and resources to expand and boost local economies. During a time of increased costs, something such as a compliance guide to bring down cost of compliance can make a great difference for countless local small businesses.
For these reasons, The Business Council supports A.11046 (Buttenschon)/S.6023 (Baskin).