Oregon Secretary of State Tobias Read recently unveiled the "State of Small Business" annual report for 2024, which highlights the current landscape of small businesses in the state and calls for improved communication between state agencies and entrepreneurs, according to an announcement from the Office of Small Business Assistance (OSBA). In his words, Read acknowledges the crucial role of regulation but asserts that the efficacy of rules hinges on proper adherence.
The Office of Small Business Assistance exists to streamline the dealings between small businesses, which account for over 99% in Oregon, and state and local government bodies - this year's report points out a need for state agencies to share information more effectively with small businesses about new initiatives and alterations to regulations and rules. The report cites the Styrofoam container ban executed by the Oregon Department of Environmental Quality as an instance that illustrates how regulatory changes can impact a swath of businesses not regulated by DEQ, including restaurants, food trucks, and cafes, and OSBA's recommendation is for state agencies to better collaborate in disseminating vital information to affected businesses.
According to the State of Oregon press release, throughout 2024, OSBA assisted 995 entrepreneurs in resolving various issues related to licensing, taxation, legal services, and access to capital, with licensing queries, tax concerns, and registration processes being the most frequented topics among OSBA clientele. Unexpectedly, for the first time, inquiries into federal regulations superseded those about state agencies except queries directed to the Secretary of State's Office a massive bulk of this uptick is attributed to the new federal beneficial ownership reporting requirements under the Corporate Transparency Act (CTA);, as legal tussles over the act continue daily, OSBA is urging businesses to stay updated on changes by checking in with the Financial Crimes Enforcement Network (FinCEN) for the most current information.
The complete "State of Small Business" report is accessible on the OSBA's website, and for those favoring a physical copy, it can be requested via email at [email protected] or by calling (844) 469-5512, as announced on April 3rd, 2025.
