Missouri will soon be one of only four states with a program that is designed to reduce the government hoops that startup businesses are required to jump through. Gov. Mike Parson has signed a bill into law that will create the so-called “Regulatory Sandbox” program.
Sen. Denny Hoskins, R-Warrensburg, sponsored the provisions that were included in the bill.
“Anytime that we have the opportunity to cut bureaucratic red tape, which is the (regulatory) sandbox portion, that’s a win for Missouri and a win for small businesses,” Hoskins said during Tuesday’s bill signing.
Rep. Alex Riley, R-Springfield, who sponsored the House version, said Missouri will be one of only four states offering this type of program.
“That’s a program that will allow innovators and entrepreneurs, people who are bringing new ideas, products, services, to market, the ability to do so in Missouri and frequently, we have issues with regulations being imposed and stopping innovative ideas in their tracks before they have a chance to even get off the ground.
Senate Bill 894 will also create the Missouri Office of Entrepreneurship. Sen. Travis Fitzwater, R-Holts Summit, is the bill sponsor.
“You know, we spend a lot of money on trying to encourage businesses to come to Missouri. We don’t spend a lot of money on trying to develop the businesses that start here,” he said. “And I think the governor agrees – we want an office that really focuses on the risk takers in our state that are going to take the take the risk to jump off the ledge. The Office of entrepreneurship, I love this idea. It’s kind of going gangbusters around the country. There’s several other states that are implementing offices of entrepreneurship. All of our net new jobs come from- they come from startups. We want to help our local businesses get up off the ground and running.”
The bill is scheduled to become law on August 28th.
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