WIPP Action Alert: Urge Your Members of Congress to Support the Accelerated Payments for Small Business Act!

Contact Your Members of Congress to Support the Accelerated Payments for Small Business Act (H.R. 5337)!

House Small Business Committee member, Rep. Steve Knight (R-CA) recently introduced the Accelerated Payments for Small Business Act of 2018 (H.R. 5337) which would direct federal agencies to make payments to small business prime contractors within 15 days of sending an invoice. This important legislation needs to move quickly to maintain assurance of prompt payment for small business contractors in the federal contracting arena.

Please contact your Representative and urge them to support the Accelerated Payments for Small Business Act of 2018.

Not sure what to say? Use this sample script:

My name is _____________, I am a constituent and [owner/founder/president] of [business name]. As a woman-owned small business contractor, I am calling to urge the Congress[woman/man] to co-sponsor H.R. 5337, the Accelerated Payments for Small Business Act of 2018. This bill is crucial for small business contractors, like me, because it would direct federal agencies to make payments to small business prime contractors within 15 days of sending an invoice. This is a common issue for small business contractors who rely on a consistent flow of income in order to be able to continue to serve their customer – the federal government. Ensuring prompt payment for small business contractors will help provide stability for companies who suffer large consequences when payments are delayed. Please ask the Congress(man/woman) to support H.R. 5337 and consider cosponsoring the bill. Thank you for your time.

Visit WIPP’s Legislative Action Center to Call Your Representative!

Access to Angel Investors Just Got Easier

By: Jake Clabaugh, WIPP Government Relations

AI

Seeking to clear up a gray area triggering securities registration, the House of Representatives passed The Helping Angels Lead Our Startups (HALOS) Act pushed by Small Business Committee Chair Steve Chabot (R-OH).

Pitch events or demo days are common methods for business owners to showcase their companies and products to a room full of investors. Right now, there is confusion about whether these events are allowed because the Securities and Exchange Commission’s rules prohibit “general solicitations.” The HALOS Act would clarify that pitch events hosted by angel investors are not general solicitations and do not require securities registration – a complex and expensive process for both angel investors and companies seeking investment.

Angel investment is particularly important for women-owned businesses. Recent data indicates that one in four angel-backed companies are led by women. The number of women-led companies receiving angel investments has increased by 234% in just the last decade. Since women-owned businesses receive only 4% of conventional small business loan dollars, it is vital to cultivate other sources of capital.

This bill will now move onto the Senate for consideration. WIPP will continue to engage Members of Congress on access to capital issues. An additional recommendation in WIPP’s access to capital platform, Breaking the Bank, urges Congress to incentivize angel investments with tax credits.