Main Street Growth Act Opens Opportunities for Small Businesses
New Legislation Improves Access to Capital for Small Businesses
House Small Business Committee Chairman Steve Chabot (R-OH) has helped introduce legislation to give small companies new and improved opportunities to access key sources of capital to start and grow their business. H.R. 4638, the Main Street Growth Act, builds on some of the successes from the Jumpstart Our Business Startups (“JOBS”) Act of 2012 by better tailoring venture exchange opportunities for newer, small businesses.
“This bill helps America’s small businesses access capital without having to jump through a lot of regulatory hoops that were designed with major corporations in mind,” said Chairman Chabot. “A one-size-fits-all approach to capital access doesn’t work, and small businesses, which create most of our new jobs, should be able to compete. This bill will open new doors for entrepreneurs by creating an environment for full and fair access to the capital they need to create jobs and grow our economy. We can no longer allow red tape that confounds even the largest multinational corporations to hold back our small businesses.”
Chabot introduced the legislation alongside Rep. Scott Garrett (R-NJ), Chairman of the Subcommittee on Capital Markets and Government-Sponsored Enterprises of the House Financial Services Committee.
Chairman Chabot has made access to capital a top priority of the Small Business Committee and identified it as one of the most important ways Congress can empower America’s entrepreneurs in his recent speech at the National Press Club.