Small and Minority Business

Regulatory Flexibility

In an effort to minimize the regulatory burden on small business, Governor Mike Beebe signed Act 143 of 2007, which created regulatory flexibility in the state of Arkansas. Through Act 143, the governor and the legislature have challenged Arkansas's regulatory agencies to establish rules and regulations to protect citizens, while also being mindful of the financial burden that over-regulation can impose on the state's small business owners.

Act 143 requires a regulatory agency to submit an economic impact statement that determines:

The types of small businesses affected by the proposed regulation,
A description of any adverse effects on small businesses,
The cost to small businesses,
Alternative measures that could be considered, and
A comparison of similar rules in other states.

Then you must send a copy of the proposed rule or regulation and the economic impact statement to AEDC for review.

Patricia Brown, Director of AEDC's Small and Minority Business Development Division, is the point of contact for regulatory flexibility. If you have questions, you may contact her at 682-2559 or pbrown@arkansasedc.com. To expedite the review process, all submissions should be emailed to Patricia Brown at the address listed above.