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Published: Tuesday, June 29, 2021
Small Business Administration. Photo credit: SBA
Small Business Administration headquarters in Washington. SBA
A federal agency formed to champion small-business interests has morphed into what critics call an anti-regulatory mouthpiece, and it has sights on President Biden s agenda.
The Small Business Administration s Office of Advocacy tends to ramp up during Democratic administrations, seeking to influence federal environmental and workplace regulations so they are more amenable to companies like small refiners and tanneries.
The office has already rebuffed Biden energy standards and critical habitat proposals, after four years of being all but silent under former President Trump. It was almost dormant under Republican administrations, and then it springs into action under Democratic administrations, said Amit Narang, an analyst at left-leaning Public Citizen, which has been critical of the office. This could emerge as an issue for EPA as
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Dive Brief:
Heyday, a platform that supports digital-native, marketplace brands, raised $70 million in Series B equity financing, the company announced in an emailed press release on Thursday. The round comes less than six months after the startup raised $175 million in Series A funding.
The company said it has surpassed $100 million in revenue, employs a team of over 100 employees and expanded to more than a dozen markets worldwide.
General Catalyst, Khosla Ventures and Arbor Ventures participated in the Series B funding round. Mark Crane, partner at General Catalyst, will also join Heyday s board, per the announcement.
Dive Insight:
In its bid to help scale marketplace-native brands, Heyday has brought on industry veterans with experience at established brands and retailers to guide its company into the next phase.
To replace lost jobs and incomes, the economy needs entrepreneurs to fill the void with business startups. During the economic downturn a decade ago, the business startup rate fell and never fully recovered, which contributed to a slow recovery. Even before that, the startup rate had been trending down since the 1980s. That is troubling because startups play crucial roles in the economy. They create most net new jobs. They are a key source of innovation because new products are often pioneered by new companies. And they challenge dominant firms, which helps to restrain prices and expand consumer choices.
This report argues that state and local policymakers should slash regulatory barriers to startup businesses. State governments should repeal certificate of need requirements and minimum wage laws, liberalize occupational licensing and restaurant alcohol licensing, and fully legalize marijuana and hemp businesses. Local governments should reduce and simplify permitting and licensi