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Rep. Riedel Announces Passage of Bill Creating Definition of Microbusiness

March 1, 2017
Craig S. Riedel News

COLUMBUS—State Representative Craig S. Riedel (R-Defiance) today announced the Ohio House’s passage of legislation that creates the definition of “microbusiness” in statute.

House Bill 5, sponsored by Representatives Dorothy Pelanda (R-Marysville) and Theresa Gavarone (R-Bowling Green), defines a microbusiness as an independently owned and operated for-profit business entity that is located in Ohio and has fewer than 20 full-time employees.

“By defining a microbusiness, we are making positive strides to help the growth of small businesses,” said Rep. Riedel. “I am in full support of House Bill 5 and will continue to support legislation that benefits the business community.”

The current definition of “small business” in state law includes entities with up to 400 workers, resulting in a large discrepancy between businesses with vastly different resources. This gap affects how businesses are defined for purposes of seeking loans and other connections with the government.

House Bill 5 now awaits consideration by the Ohio Senate.