- Report Published -
|Annual Report of the Virginia Small Business Commission|
|Virginia Small Business Commission|
|Small businesses dominate the Virginia business scene. Over 60 percent of Virginia's businesses have fewer than five employees. And, businesses with fewer than 100 employees provide jobs for over half of Virginia's workforce. Yet, small businesses are acutely challenged in an economy trending toward larger and larger companies. Because of their size, small businesses frequently encounter difficulty accessing capital, developing effective marketing strategies, utilizing technology, and providing competitive health care benefits. These challenges prompted the Virginia General Assembly to establish a permanent legislative commission for small business.|
Senate Bill 673 and House Bill 1759, approved by the 1994 Session of the General Assembly and signed into law, established the Virginia Small Business Commission. Establishing the Commission was the recommendation of a 1994 joint subcommittee studying ways to assist small business pursuant to Senate Joint Resolution 128 of 1993. The Commission's enabling legislation (Appendix A) gave it the following responsibilities:
- Evaluate the impact of existing statutes and proposed legislation on small businesses.
- Assess the Commonwealth's small business assistance programs and examine
ways to enhance their effectiveness.
- Provide small business owners and advocates with a forum to address their concerns.
- Reports annually its findings and recommendations to the Governor and the
The Commission is comprised of 14 members, including six members from the House of Delegates, four members from the Senate and four at-large members appointed by the Governor. The at-large members are required to be individuals with small business experience or expertise.