Business & Corporate

SBA Eliminates "Direct" Ownership Rules for HUBZone Program

June 5, 2018
By Jonathan B. Bush
On March 26, 2018, the U.S. Small Business Administration (SBA) issued a direct final rule that changed the wording of 13 C.F.R. § 126.200(b)(1) to allow indirect ownership by U.S. citizens of companies in the HUBZone program. The stated purpose of the rule change is to align more accurately the rule with the underlying statutory authority. Prior to this change the HUBZone rules required that a HUBZone company be "unconditionally and directly owned" by U.S. citizens. The rule took effect on May 25, 2018.

Corporate Record-Keeping and Compliance, or "Do I Really Need to Hold a Shareholders' Meeting If I Am the Only Shareholder?"

April 17, 2018
By Jonathan B. Bush
When we are asked to review client corporate record-keeping, it is far too often the case that such record-keeping has fallen by the wayside and been overlooked. We understand that, for small businesses and/or entities with only a handful of equity owners, corporate record-keeping can seem a tedious or expensive chore. Some clients have asked "Do I really need to hold a shareholders' meeting if I am the only shareholder?"

Cybersecurity Update—Round II

March 22, 2018
As part of our continuing effort to keep you updated with new developments relating to compliance with the Department of Defense Federal Acquisition Regulation Supplement 252.204-7012, this blog post provides a link to the long-anticipated template for a system security plan and other key information related to implementation of the security controls set forth in the National Institute of Standards and Technology Special Publication 800-171.

HUBZone Definition of "Employee" Not So Black-and-White

By Peter B. Ford
In a recent decision, HUBZone Appeal of Q Services, Inc., the Small Business Administration ("SBA") clarified that the number of hours worked by a person does not bar SBA from examining the totality of the circumstances to determine whether that individual qualifies as an employee for HUBZone program eligibility purposes.

Do Millennials Pose a Retention Risk?

March 6, 2018
By Isaias Alba IV
According to GAO, it's reasonable for agencies to consider it in evaluating quotes. The topic of millennials in the workforce is no stranger to anyone in the working world. A plethora of articles, blogs, reports, polls, and studies have been devoted to the subject. The issue has been debated for years, and a main point of the discussion is how frequently millennials move from one job to the next.
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