In what is being heralded as one of the few bipartisan accomplishments by an all too divided Congress, President Barack Obama signed legislation late yesterday that is designed to help small businesses and make it easier for startups to get the funding they need to get off the ground. Known as the JOBS (Jump-start Our Business Start-ups) Act, the bill reduces regulatory barriers that have to date made it very difficult for young companies to raise capital and also makes it easier for them to go public much sooner.
In a statement released shortly after the new legislation was signed, House Speaker John Boehner (R-OH) said that the Act is “good news for entrepreneurs and aspiring small businesspeople struggling to overcome government barriers to job creation.” Referring to the Act as a “game-changer” during the signing ceremony, which was attended by lawmakers from both parties, President Obama further acknowledged the critical role that small businesses play in keeping our economy strong. “When their ideas take root, we get inventions that can change the way we live,” he said. “And when their businesses take off, more people become employed.”
For more in-depth coverage of this groundbreaking legislation and what it might mean to your small business, go to:
TIME Business (online)