South Dakota is leading the way to state small business regulatory flexibility.
Anytime a South Dakota state agency proposes new rules it must complete a Small Business Impact Statement to show whether and how the proposed regulations will affect small businesses.
The idea is that state agencies should think carefully about the impact of rules before they impose them, and make it easier for the owners of small businesses (those that employ 25 or fewer people) to understand what they have to do to comply with the new rules.
Because of South Dakota’s pro-business climate, it consistently ranks at or near the top for economic environment for entrepreneurship. South Dakota takes great pride in eliminating unnecessary red tape, and the Small Business Impact Statement helps to do just that.
— Jim Henderson, Rocky Mountain and Great Plains Regional Advocate (Region VIII)