Thursday, May 30, 2024

Kennedy bill to help small business create jobs and add to the economy becomes law

by BIZ Magazine

MADISONVILLE, La. – Sen. John Kennedy’s (R-La.) Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act has become law as part of the annual funding bill. Kennedy’s legislation will help small business owners by allowing them to be bought and sold more easily. This legislation does this by removing the need for a registered middleman to oversee these sales.

“At a time when Americans are struggling under Pres. Biden’s bad economic policies, this legislation will give small businesses more flexibility to create and sustain jobs. Getting rid of this bureaucratic ball-and-chain will support individual workers, job creators and the overall economy,” said Kennedy.

The current requirement disadvantages small- and medium-sized job creators, and that discourages growth across the American economy. The legislation will remedy this by allowing small business merger and acquisition (M&A) brokers to organize sales and purchases of ownership, as well as the control of private companies, without the burden of registering as “broker-dealers” with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

When building and selling companies becomes easier, investors are more willing to dedicate resources to them. That, in turn, creates jobs and grows the value of individual businesses and the economy as a whole.

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