Feedback Requested:
DOL Independent Contractor Rulemaking
The U.S. Department of Labor is proposing to modify Wage and Hour Division regulations to revise its analysis for determining employee or independent contractor classification under the Fair Labor Standards Act (FLSA or Act) to be more consistent with judicial precedent and the Act's text and purpose. Specifically, the proposed rule would do the following:
- Align the department's approach with the courts' FLSA interpretation and the economic reality test.
- Restore the multifactor, totality-of-the-circumstances analysis to determine whether a worker is an employee or an independent contractor under the FLSA.
- Ensure that all factors are analyzed without assigning a predetermined weight to a particular factor or set of factors.
- Revert to the longstanding interpretation of the economic reality factors. These factors include the investment, control, and opportunity for profit or loss factors. The integral factor, which considers whether the work is integral to the employer's business, is also included.
- Assist with the proper classification of employees and independent contractors under the FLSA.
- Rescind the 2021 Independent Contractor Rule.
NAWBO plans to send comments and would appreciate hearing any feedback you have on the proposed rule.
Interagency Community Investment Committee
The Interagency Community Investment Committee (ICIC) has issued a Request for Information (RFI) to gather the American people's input on improving the effectiveness and impact of federal community investment programs. They request feedback from community stakeholders to understand the specific challenges with accessing and working with federal community investment programs and how to overcome any impediments to finances flowing to underserved communities.
NAWBO plans to send comments and would appreciate hearing any feedback you have on the proposed rule.
Partner Updates:
National Urban League, National Minority Supplier Development Council, and Public Private Strategies Institute are excited to announce the launch of phase one of Build Up Local, a one-stop shop for business owners in systematically excluded communities of color to access resources and programs made available through the Bipartisan Infrastructure Investment and Jobs Act. This platform aims to help close the racial wealth gap through inclusive infrastructure contracting opportunities. More specifically, Build Up Local aims to assist minority-owned businesses by:
- Providing business owners with resources to help them understand the Bipartisan Infrastructure Law and how it can help their businesses thrive.
- Equipping businesses of color with the information needed to access contracting opportunities through ongoing training, webinars, and other educational and collaborative organizing opportunities.
Biden Administration Updates:
Register for SBA's Money Smart Webinar Wednesdays to get Financially Fit in Six Weeks
Are you Money Smart? Get financially fit in 6 weeks when you join the SBA's virtual business training program for aspiring and existing entrepreneurs on the financial basics of starting and growing a business. All classes are offered Wednesdays from 12:00 p.m. to 1:00 p.m. ET, with time allocated for a live Q&A. The sessions are not recorded.
- Managing Cash Flow - Wednesday, November 16 This module encourages the participants to focus on cash flow management as an essential competency of business ownership. Register Here
- BONUS! Selling Your Business & Succession Planning - Wednesday, November 30 This module overviews selling a small business and succession planning. It is designed to help participants understand how selling a business can benefit their business. Register Here
Nominate Your Business for a 2023 National Small Business Week Awards
The 2023 National Small Business Week (NSBW) Awards recognize SBA-assisted small businesses' inspirational achievements and contributions to their communities and our nation's economy. All nominations should be submitted electronically by 3 p.m. ET on December 8, 2022. For over 50 years, the SBA has celebrated National Small Business Week, which recognizes the critical contributions of America's entrepreneurs and small business owners. To nominate a small business owner or champion, download related forms, criteria, and guidelines and visit sba.gov/nsbw. Nominations for the following categories will be accepted:
- Small Business Person of the Year
- Small Business Exporter of the Year
- Phoenix Awards for Disaster Recovery
- Federal Procurement Awards
- Awards to SBA Resource Partners
- Small Business Investment Company of the Year