New On-Line Government Forum Created for Small Businesses

The House Small Business Committee has launched “Small Biz Open Mic” as a forum for small business owner to speak directly to Congress about government policies affecting them.

Committee Chairman Rep. Sam Graves describes the site as a:

“… new media forum that encourages blog-type comments and testimonials from small business owners across America regarding government policies, and allows participants to comment on Committee news, legislation, hearings, and news stories that relate to small business growth and development. Comments from participants about legislation and policies that impact small businesses will be used to help the Committee conduct its official business.”

Small business owners can upload videos and leave comments at http://smallbusiness.house.gov/OpenMic/SubmitFeedback.aspx

OMB Urges Agencies to Pay Small Business Contracts Faster

Federal agencies must accelerate their payments to small business contractors, according to an Office of Management and Budget memorandum released Wednesday. The new guideline cuts the recommended payment time in half. Previously, under the 1982 Prompt Payment Act, agencies had to make payments within 30 days from when an invoice was received. 


Now, agencies should make payments within 15 days, or as soon as practicable.
With the government spending nearly $100 billion a year in small business contracts, OMB predicts this will boost cash-flow for small businesses and help create economic growth. “This will benefit tens of thousands of small businesses by getting money into their hands faster. The late payment interest penalty will not change, however. A provision in the Prompt Payment Act, the penalty is triggered when an agency does not pay within the 30-day mark.

Initial reaction from the National Small Business Association is positive.


Agencies are expected to notify OMB by Nov. 1 when they can begin making accelerated payments.