| Comment Number: | 522418-12507 |
| Received: | 7/17/2006 10:26:13 PM |
| Organization: | |
| Commenter: | R Searcy |
| State: | NC |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Dear Sir or Madam, Regarding Business Opportunity Rule, R511993 June 16, 2006 This ruling is very restrictive: It would put me and many other direct sales business owners out of business for the following reasons: 1.) The time, money and energy to fully comply with these regulations. It would create enormous paperwork and filing and storage expenses for a small business owner, with retaining a copy of each disclosure statement that would be different for each person approached respecting the opportunity, plus their application for a period of 3 years. 2.) This rule should not apply to a business opportunity that costs such a minimial amount---less than a common household appliance. 3.) By requiring a 7 day waiting period, you create unwarranted suspicion and hinderance for people who have examined the options and are committed to building a business and are ready to and need to earn a living. No other type of small business owner is required by law to make a person wait a week before they can begin earning an income, once they have decided to do this. You are destroying the opportunity for interested people by unreasonable requirements. Does Congress by law make aides wait 7 days to start working? Are you wanting to help honest small businesses grow, or do you want to destroy them? No other business that I know of has to provide the names of 10 references who live closest to the prospect and who signed up or used the company's products in the past 3 years. This alone would discourage and cause an unbelievably challenging hurdle to jump for even hard working small business owners who wish to grow their business and keep them from recruiting new people. It would kill a business. Small business owners already spend many more hours working to build their businesses than larger business owners, because they wear so many different hats and have such diverse tasks to accomplish . This would eat up their time and prevent growth, including growth potential for increased taxes paid to the government. No one will join such an industry with such restrictive requirements. Thank you for reconsidering what you are asking. Kill the billl!!!!!