An effort is underway on the federal level to assist small businesses in rural areas.
The “More JOBS for Rural Areas Act” would require the Securities and Exchange Commission to issue a report on access to capital in rural areas for small businesses.
Specifically, the report would:
■ Seek to identify best practices for small businesses seeking access to capital;
■ Assess possible barriers for small businesses in rural areas seeking capital;
■ Provide recommendations to improve communications between investors and small businesses;
■ Offer information how to raise awareness about venture capital funding opportunities for rural small businesses.
The effort was announced Monday by U.S. Rep. Ruben Kihuen, D-North Las Vegas, who represents Nye County in the House of Representatives. He introduced the proposal.
“Starting a small business brings a unique set of obstacles for every owner,” he said in a statement. “But in a rural community, running a small business is even more of a challenge, complicated by limited access to capital and difficulty connecting and communicating with investors.”
“Small businesses are the backbone of the American economy,” Kihuen said. “We should make every effort to foster entrepreneurship and innovation wherever it exists.”
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