House passes Kennedy bill to help small business owners buy, sell, merge Main Street firms
May 12 2022
WASHINGTON – The House has passed Sen. John Kennedy’s (R-La.) Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act, which would help small business owners access the services of small business merger and acquisition (M&A) brokers.
M&A brokers assist small business owners who want to sell their businesses or merge with other firms so that their companies can continue expanding and supporting job growth.
“This bill would give small businesses more flexibility to create and sustain jobs. The Senate has the chance now to pass this bill quickly so that job creators can continue building stronger businesses that serve their employees and communities,” said Kennedy.
The bill would allow small business M&A brokers to organize sales and purchases of ownership as well as the control of private companies without registering as “broker-dealers” with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Removing the requirement to register with the SEC and FINRA would remove a bureaucratic roadblock that M&A brokers face when trying to assist small businesses. Kennedy’s bill would make M&A services more affordable and accessible to small business owners who need help buying or selling companies.
Kennedy’s bill now awaits passage in the Senate.
Text of the Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act is available here.