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Business Impact Estimate This form should be included in the agenda packet for the item under which the proposed ordinance is to be considered and must be posted on the Citys website by the time notice
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What is BUSINESS IMPACT STATEMENT RELATING TO ORDINANCE ... Form?

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A business impact statement is a document that outlines the potential effects of a proposed regulation or policy on businesses within a specific industry. It assesses how changes might influence operational costs, market conditions, and compliance requirements.
Typically, businesses that may be affected by proposed regulations and policies are required to file a business impact statement. This could include stakeholders such as companies, trade associations, and industry coalitions.
To fill out a business impact statement, one should gather relevant data on the company's operations, estimate potential impacts of the proposed changes, and provide clear and concise information regarding costs, benefits, and unintended consequences.
The purpose of a business impact statement is to provide policymakers with insights into how proposed regulations will affect businesses. It helps in the decision-making process by weighing the potential regulatory burden against public benefit.
The business impact statement must report information such as the nature of the business, the specific regulation in question, estimated costs of compliance, potential economic impacts, and any suggestions for mitigating adverse effects.
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