PUBLIC TESTIMONY
Testimony by Andrea Tan, Director of Microenterprise Project at Volunteers of Legal Service (VOLS)
2:38:07
ยท
136 sec
Andrea Tan, representing Volunteers of Legal Service (VOLS), testified in support of proposed bills addressing challenges faced by small businesses in New York City. She emphasized the importance of analyzing costs for starting and maintaining businesses, introducing a commercial landlord watch list, and providing tailored regulatory compliance assistance.
- VOLS provides transactional legal services to small businesses and sees firsthand the regulatory and financial barriers entrepreneurs face.
- The proposed commercial landlord watch list would help address the power imbalance between commercial landlords and tenants, as commercial tenants lack many legal protections.
- Tan stressed the need for accessible resources and thoughtful policies to create a more equitable and thriving small business ecosystem.
Andrea Tan
2:38:07
Good afternoon.
2:38:08
Thank you for the opportunity to testify.
2:38:09
My name is Andrea Tan.
2:38:10
I'm the director of the microenterprise project.
2:38:12
I'm volunteers of legal service.
2:38:14
We're a, legal services nonprofit.
2:38:16
We provide transactional legal services to small businesses.
2:38:19
Based on our experience working with small business owners, we believe that the proposed bills will address critical challenges that in entrepreneurs in New York City face and provide you useful resources.
2:38:30
1st, the proposed analysis of the fees and costs to start and maintain a business would be a helpful tool.
2:38:35
We see firsthand how regulatory and financial barriers overwhelm entrepreneurs.
2:38:40
Legal fees, for instance, remain one of the most significant yet overlooked costs.
2:38:45
Entrepreneurs frequently forego legal services to save money, which often results in costly mistakes, like improperly formed entities or poorly drafted contracts, including leases.
2:38:56
Identifying these costs would help the city better address the financial hurdles that undermine small business growth, involves the states committed to offering free legal services to entrepreneurs who urgently need these services.
2:39:08
2nd, the introduction of a commercial landlord watch list would help address the power imbalance between commercial landlords and tenants by increasing transparency and accountability in the rental market.
2:39:19
Unlike residential tenants, commercial tenants lack many legal protections, leaving them vulnerable to exploitative practices.
2:39:26
Through our work, we have observed how inadequate lease agreements and untrustworthy landlords can lead to financial loss and business closures.
2:39:34
This tool would provide small businesses with critical information to mitigate those risks and promote fairness in the commercial rental market.
2:39:41
And finally, providing tailored regulatory compliance assistance in different languages would help businesses proactively address compliance challenges, alleviating a significant burden for small businesses, especially those without access to legal assistance.
2:39:54
Collaboration with organizations like ours that already provide legal and compliance services would enhance the reach and impact of these efforts.
2:40:02
Legal fees and compliance costs, should not be insurmountable obstacles for small businesses, and by addressing these challenges with thoughtful policies and accessible resources, we can ensure that small business owners spend less time navigating regulatory and regulations and dealing with violations, allowing them to focus more on growing their businesses and create a more equitable and thriving small business ecosystem.
2:40:23
Thank you.