Discover Boating Video Series Recognized by Sea Tow Foundation in 2024 National Boating Safety Awards

The Sea Tow Foundation announced the winners of the 2024 National Boating Safety Awards, and this year’s Marine Trade Association award went to the National Marine Manufacturers (NMMA) for its Discover Boating Top Safe Boating Tips video series, presented with Progressive® Insurance. These awards, now in their sixth year, recognize outstanding efforts to promote boating safety within the for-profit sector of the boating industry.

Discover Boating’s comprehensive campaign reached more than three million people across platforms like YouTube, social media and email. The video content was freely available to other organizations, further extending the reach of critical safe boating messages.

Earlier this year, the safe boating series’ “Captain Duties” episode was awarded for excellence at the International Boating and Water Safety Summit (IBWSS).

To help engage your customers, download or embed the Discover Boating Top Safe Boating Tips videos to share in your showroom, on your website, via your social network or in your next email campaign. The spots are available in the Discover Boating Industry Resource Center, powered by NMMA and MRAA.

Dealer Week 2024 surpasses 400 dealer registrations following Early Bird

Dealer Week 2024 is moving to a new location but continuing a tradition of strong dealer interest. After record-breaking attendance at Dealer Week 2023, held in Tampa, Fla., the event is moving to Orlando and remains on track to meet or exceed last year’s attendance numbers.

The Early Bird registration period for Dealer Week ended last month, and currently more than 400 dealer attendees have already signed up, as well as more than 150 exhibiting companies.

“Traditionally about half or a little less than half of our dealer attendees take advantage of our Early Bird offer, which is great,” said Mike Davin, VP of Industry Relations at MRAA. “Of course, a lot dealers turn their attention toward the event, which happens in December, a little later in the fall, and of course we completely understand. But we use the early registrations as a barometer of how the event is tracking each year, and we’re happy to say that we are on pace for another big event.”

Last year’s Dealer Week welcomed more than 720 dealer attendees and 1,500+ industry personnel in total. For 2024, there are already a record number of exhibit booths booked for the event, and with more than 400 dealership personnel already signed up, it looks like Dealer Week 2024 in Orlando will be another large gathering of marine retailers and the companies that partner with them.

MRAA reveals Dealer Week 2024 Theme

Dealer Week is hosted annually by the Marine Retailers Association of the Americas. It takes place Dec. 8-11, 2024, in Orlando, Fla. The theme of the event is “Outperform,” with a schedule of events designed to provide dealers with the tools they need to exceed the average business in today’s marketing. For more information and a complete schedule of events, go to dealerweek.com.

11 Tactics for Easing the Workforce Conundrum

Here’s the very real workforce conundrum many of you are facing: Retaining staff when times get tough. However, hiring them when you need them is just as difficult and more expensive.  

Service Management Special Report MRAA

The Service Management Special Report showed that the workforce shortage is not just an issue in most service departments, but perhaps the No. 1 pain point. It was the top concern for the respondents in the survey by more than 25 percent over the next most recorded pain point.

Clearly, the workforce pain continues. In the September 2024 MRAA Pulse Report, one dealer noted “finding experienced leadership – need a service manager, can’t find.”

During a recent MRAA Board Meeting, dealers were asked whether they would hire an experienced technician today if one was immediately available to them, and just about everyone raised their hand.

The September Pulse Report also reflects a painful time period for some in sales and the marine industry. Comments about what’s working from dealers include: “Being low-staffed and keeping our chins up” and another about what’s working, “Nothing … Worst sales since 2008. Parts and service slowing significantly vs. normal this time of year.”

What a difficult combination. Workforce shortages in service means we can’t get the staff we need to increase our efficiency, our CSI and to lower our Repair Event Cycle Time. With the dramatic decrease in sales, we need service to drive profitability. “Service has the ball now with winterizations,” said one dealer about how service is going to carry the burden since “it’s tough to find something that works” for sales this time of year.

At the same time, many dealerships are looking at their numbers and strongly considering staff layoffs to maintain cash and stay afloat. One dealer commented, “We are very concerned about inventory, credit and interest rates, and believe we will see a thinning out of dealers over the next months.”

The concern is real, but so is the conundrum. Dealers can’t hire the staff they need in some areas, and yet, at the same time, some feel the need to reduce staff during these trying times.

If you have to let staff, go, will you be able to get them back when business inevitably picks up on the other side of this downturn? At what cost?

According to insights shared by Dealer Week educators and industry experts, Jim Million and Gloria Sinclair Miller, the cost of replacing an employee is over two times the cost of their salary.

Will someone else hire them away as there is clearly a need? How do you manage cash and yet, keep the staff you know you can’t easily replace?

What strategies do you use to retain your current staff, ensuring you’re prepared for an economic rebound and able to keep service personnel who are hard to replace?

John Spence, a former Dealer Week educator said, “Nothing happens in your business without your people. Nothing. That is why finding, growing, AND KEEPING talented people should be a MAJOR focus of your organization.”

Perhaps one way to navigate this conundrum is to explore alternative ways to improve your cash position. Here are 11 ideas:

1.Bring the entire staff together for a discussion: Where does each team member see opportunities to cut spending? Some quick examples from staff:


  • Do you need the fresh carpets delivered weekly?




  • Do you need to maintain Wi-Fi for customers in the offseason?




  • Does the showroom need to be heated to 72 or 65 degrees?




  • Do we need to hire someone to mow and move snow or can we do it ourselves?

2. Put some pre-owned boats in very good condition onto a floorplan so that cash is available for the offseason.

  • Talk with community banks about floorplan for recent year trade-ins.

    3. Review your actuals vs. budget. 

    • Make the budget as simple as possible to review and maintain.
    • Determine where you really are and establish very conservative projections to clarify where you stand and what you need.
    • Can you wait and see how the next few months go before making any staff changes? You don’t know for sure without preparing a cash flow forecast. If you don’t currently do so, use our Sample Net Cash Condition Worksheet.

    4. Look at parts. Are there opportunities to sell some of the leftover inventory using online marketing or other tools like eBay, Facebook Marketplace and others?

    • Parts on the shelf are tying up cash that could be used to keep an employee and pay other bills. Find ways to move them now.

    5. Review your accounts receivable and warranty. 

    • If you have outstanding balances due from customers or manufacturers, it is time to pursue those with gusto.
    • The time commitment necessary to pursue those outstanding balances will likely pay for itself and more with the resulting income.

    6. Can the sales department use some inexpensive new approaches to move another boat or two in the next few weeks and more over the next few months?

    • Video new and used boats and get them online and on your social media.
      • Use your cell phone to create these simple videos. They don’t need to be perfect. They just need to let someone see the inventory you have.
      • Use your cell phone to create these simple videos. They don’t need to be perfect. They just need to let someone see the inventory you have.
    • Use social media to create your own “boat show” during the down time of fall.
      • Could you be the first show after the election?
        • Whichever candidates win, someone will be happy and perhaps eager to celebrate. What better way than with a new boat?
        • Whichever candidates win, someone will be happy and perhaps eager to celebrate. What better way than with a new boat?
      • Be the one show that happens in your region for those few days or work with your peers in your area to put together a “show trail” with online maps to go from one dealer to the next having common hours for a shared show. People follow “wine trails” all the time, why not a “boat trail?” 

    7. Approach your staff and communicate.

    • Do you have a staff member who actually wouldn’t mind being laid off for a time in the offseason?
    • Have you ever asked? 

    8. Consider how your salespeople are making selling decisions.

    • Do they understand the current constraints and concerns?
      • Are they trying to stick to margins that are higher than you deem necessary?
      • Do they recognize that floorplan costs continue to eat away at profit margins so taking a lower price now may result in the same outcome as if they had waited months to sell the boat at a slightly higher margin?
      • Are they asking customers to consider selling on consignment or brokerage instead of taking in that expensive trade-in?

    9. Review your advertising and marketing analytics.

    • Do this to determine what works and what doesn’t work and how to reduce expenses with low-cost alternatives (influencers, digital marketing, newsletter). 

    10. Consider effective ways to create work-week shift schedule changes.

    • Could you rotate staff shifts so that you can be open on the weekend to draw any missed business opportunities that occur in the offseason? 
    • Could you adjust schedules to have a 4-day work week? 
    • Could you do both and have staff have a 4-day work week and yet stay open every day you want to be? Instead of losing one employee completely could you go to several staff dropping to a 4-day 32 hour work week and achieve practically the same cost savings?

    11. Build a rainy-day list in service.

    • If your service department has a rainy-day list of customer repairs and upgrades that could be completed in the offseason, put your team on the phone to get that work scheduled during slower times to keep your service department busy.
    • Consider making it a contest to see how many customers you can serve this way. Remember: This is an opportunity to show them how much your dealership cares about their experience on the water.

    Along with those quick thoughts, the MRAA has some additional guides and courses you can access depending upon your membership level that will support you in the process of retaining staff and managing your cash.

    MRAA Partners with Sportfishing Industry to Advise Next Administration on Policy

    WASHINGTON, October 10, 2024 – The Marine Retailers Association of the Americas joined the American Sportfishing Association and key industry and community stakeholders to unveil a roadmap for future government action to support recreational fishing interests. “THE FUTURE OF SPORTFISHING: Policy Recommendations from the Recreational Fishing Community” is a collaborative effort to promote science-based conservation, encourage economic growth, enhance public access and advocate for the rights of American anglers.

    MRAA Partners with Sportfishing Industry to Advise Next Administration on Policy
    “THE FUTURE OF SPORTFISHING: Policy Recommendations from the Recreational Fishing Community”

    The recommendations were developed with input from a wide range of partners. Seventeen organizations, recognized as leaders in habitat conservation, public access and recreational fisheries policy, have endorsed the recommendations, collectively representing thousands of businesses and 57.7 million Americans who fish annually.

    “Conservation and proper management of our nation’s sport fish and their habitats as well as supporting and enhancing access to recreational opportunities are key to supporting the $230 billion recreational boating industry, and our community looks forward to working with the new administration and Congress on these recommendations in the new year,” said Mike Sayre, MRAA Director of Government Relations. “Implementation of the policy recommendations from the ‘Future of Sportfishing Report’ would greatly enhance the management, recovery and resilience of America’s freshwater and saltwater sport fish populations to the benefit of both recreational anglers and boaters.”

    “Each year, one out of six Americans go fishing – contributing $148 billion to the U.S. economy,” added Mike Leonard, ASA Vice President of Government Affairs. “The next administration and Congress should clearly understand what issues our constituency cares about, and this report gives them a roadmap on how they can best support our community’s needs.”

    The recommendations are grouped into three significant areas: federal funding requests, policy proposals for public waters and habitat protection initiatives.

    National Conservation Funding

    • Adequate and dedicated funding for federal land management agencies
    • Reauthorization of the Sport Fish Restoration and Boating Trust Fund
    • Enhanced Funding for state-led collaborative conservation

    Marine Fisheries Policy Proposals

    • Improve data and access
    • Investments in marine technologies
    • Effective fisheries management
    • Species habitat and recovery


    Freshwater Fisheries Policy Proposals

    • Legislation to protect habitat and support restoration
    • Strengthen interstate partnerships
    • Conserve waterways and protect public access
    • Invasive species management and removal


    Sportfishing remains one of the most popular and accessible outdoor activities, connecting millions of Americans to nature. In 2022, the sportfishing industry supported more than 90,000 jobs nationwide. Anglers also contribute significantly to conservation efforts, generating $1.8 billion annually for aquatic resource conservation through license sales, the federal excise tax on fishing equipment and direct donations.

    Continued growth of our industry and our sport relies on strong partnerships with Congress and the White House. Over the next four years, the MRAA anticipates collaborating with our elected officials to bring these recommendations to fruition.

    Click here to read the full report.

    About the Marine Retailers Association of the Americas
    At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

    About the American Sportfishing Association
    The American Sportfishing Association (ASA) is the sportfishing industry’s trade association committed to representing the interests of the sportfishing and boating industries as well as the entire sportfishing community. We give the industry and anglers a unified voice when emerging laws and policies could significantly affect sportfishing business or sportfishing itself. ASA invests in long-term ventures to ensure the industry will remain strong and prosperous, as well as safeguard and promote the enduring economic, conservation and social values of sportfishing in America. ASA also gives America’s 55 million anglers a voice in policy decisions that affect their ability to sustainably fish on our nation’s waterways through Keep America Fishing, our national angler advocacy campaign. America’s anglers generate more than $50 billion in retail sales with a $148 billion impact on the nation’s economy creating employment for 945,000 people.

    Discover Boating’s New PSA Campaign Airs on News Stations, Streaming Platforms

    Discover Boating, in collaboration with Progressive Insurance®, recently launched a new television public service announcement (PSA) campaign, and in just two months the PSAs have aired 550 times, delivering more than 1,000,000 impressions and equating to $63,000 in donated media value (the cost it would take for the same media “real estate” if the news coverage were paid advertising).

    Discover Boating’s New PSA Campaign Airs on News Stations, Streaming Platforms

    The PSAs feature the “Voices” spot from the See You Out Here campaign as well as videos from the Boating Safety Basics series including “Sun Safety,” “Safe Swimming” and “Safe Seating.”

    Additionally, over the last 8 weeks, the “Pet Safety” video aired on Connected TV (streaming platforms such as Pluto and The Weather Channels), generating nearly 650,000 views with a view through rate of 99%, which exceeds the industry average of 89%.

    Boating safety videos and campaign spots are available to industry stakeholders in the Discover Boating Industry Resource Center, powered by NMMA and MRAA. Download or embed the video content to share in your showroom, on your website, via your social network or in your next email campaign.

    A Cycling Story

    By Chris Kulaga, Lightspeed Product Manager

    Let’s rewind to 2003, a pivotal year for the British Cycling team. At the time, they were known for their average results—neither remarkable nor dismal, just existing in the middle ground of competitive cycling.

    Enter Sir Dave Brailsford, a visionary in the cycling world, who introduced the concept of “aggregation of marginal gains.” This philosophy centers on the belief that small, incremental improvements in every area of performance can lead to extraordinary results. Under Brailsford’s leadership, the British Cycling team soared to success, winning multiple gold medals and earning Dave a knighthood for his accomplishments.

    A Cycling Story - Marginal Gains by Chris Kulaga

    Now, imagine applying this mindset to marine dealerships. Just as Brailsford focused on the smallest details to transform his team, marine dealership owners and managers can adopt the same approach to boost business performance and customer satisfaction.

    Understanding the Marginal Gains Approach
    Brailsford’s approach was simple yet revolutionary: improve every aspect of a cyclist’s performance by just 1%. This included everything from the most obvious factors like training and equipment to even more granular details such as the type of pillow an athlete used when sleeping. So how can marine dealerships harness this approach?

    Micro Changes, Macro Impact
    What if you analyzed every detail of your dealership’s operations, no matter how small? Consider the flow in your service bay, parts department, or sales office. For example, is there an obstacle between your parts shelves and the service counter that causes your parts manager to waste time navigating around? Could a simple reorganization improve efficiency and eliminate wasted steps? These small adjustments, when compounded, lead to noticeable improvements in both time savings and overall productivity.

    Brailsford’s List: A Source of Inspiration
    To give you an idea, here are a few changes Brailsford implemented:

    • Optimized the cyclist’s seating position for aerodynamics.
    • Used indoor washing machines for cleaner cycling kits (less skin irritation).
    • Applied alcohol to tires for better grip.
    • Tested which bike paint was the most aerodynamic.

    These adjustments might seem minor, but collectively, they all came together to give Gold-Medal results.

    Apply the Marginal Gains Mindset to Your Marine Dealership
    Here’s how you can start implementing this mindset in your marine dealership to achieve leadership excellence:
    Streamline Your Operations:

    • Evaluate your dealership layout: Is the flow between the showroom, service area, and parts counter as efficient as it could be? Small changes like reorganizing pathways or minimizing movement for staff can reduce time wasted and enhance productivity.

    Improve Customer Interaction:

    • Take a lesson from Chick-fil-A’s customer service: The enthusiastic and efficient way they greet customers leaves a lasting positive impression. How warmly and quickly are your customers greeted when they walk into your dealership? A simple adjustment in how your team interacts with customers can improve the overall experience and build long-term loyalty.

    Focus on the Little Things:

    • Look beyond the obvious: While improving repair event cycle times (RECT) is important, also consider the smaller, often overlooked processes. Is there a faster way to complete paperwork or an opportunity to enhance the waiting area? Can you maximize your dealer management system (DMS) by utilizing all its shortcut and hotkey functions? Even optimizing the placement of your coffee machine can make a difference in the customer experience.

    Create a Feedback Loop:

    • Gather regular input from employees and customers: Sometimes the most valuable insights come from those closest to day-to-day operations. Set up a system for continuous feedback to identify small tweaks that can lead to big improvements.

    Embracing Marginal Gains
    Adopting Sir Dave Brailsford’s philosophy in your marine dealership means recognizing that while big wins matter, it’s often the small, incremental improvements that lead to lasting success. Scrutinize the finer details of your operations, and watch as these micro changes add up to significant advancements in efficiency, leadership, and customer satisfaction.

    Remember, in the “aggregation of marginal gains,” no change is too small to make a difference.

    Boat Buying & Inventory Management Strategies with Chris Kulaga
    Chris Kulaga, Project Manager, Lightspeed

    About the Author
    Chris Kulaga, Lightspeed Product Manager is focused on understanding the product roadmap needs of our Marine dealerships. He has been a Lightspeed team member for more than five years and have held various roles within the company. As someone who takes pride in his expertise on the Lightspeed solution, Chris finds it rewarding to help customers achieve their business goals.

    Before joining the tech sector, Chris served in the Air Force where he honed his leadership and technical skills. Today, he applies these skills to his role at Lightspeed, where he is responsible for defining the product vision, strategy and roadmap.

    Chris currently reside in Tri-Cities, Washington with his wife, two pets and a kitchen where he loves to cook. When he’s not working, Chris enjoys lifting weights and exploring new places. He is also passionate about all things Marine and loves learning more about it whenever he can.


    Lightspeed is an MRAA Strategic Partner.

    Repair Event Cycle Time

    • Industry survey – Your feedback will help to uncover unexpected and effective service items that influence RECT

    We have heard it before. We will hear it again. Repair Event Cycle Time is the most important KPI to influence customer satisfaction.

    Repair Event Cycle Time Survey

    Boaters only have so many days to get out on their boat. Wind, Waves, Weather, Work and Winter all get in the way. One sure way to crush satisfaction is to add Waiting as the sixth “W” impacting a boat owner’s time on the water.

    The MRAA and IDS have teamed up to build an industry survey to get behind-the-scenes in service departments and find the unexpected and highly effective items that influence RECT.

    The MRAA’s “Service Management Special Report” has some hugely supportive data and insights on how to reduce the number of days that a boat is stuck in your service department. You can look at those here.

    Like you, we want to go even deeper, and getting your feedback will help us get there! We urge you to take the attached survey as we work toward providing new-and-unique approaches to controlling and reducing your RECT.


    IDS is an MRAA Education Champion. Learn how to partner with the MRAA.

    9 New Partner Members Join MRAA

    MINNEAPOLIS, October 2, 2024 — The Marine Retailers Association of the Americas (MRAA) announces the addition of BoatBot, Gemeco, Gilson, Makefast USA, North Star Mutual Insurance, Octane, Supreme BI, Wintron Electronics,and XPEL as its newest Partner Members.

    MRAA Welcomes New Partner Members

    Marine manufacturers, suppliers and service providers, through Partner Membership, commit to aligning their brands with the programs and opportunities that MRAA offers in its efforts to fuel the success of the marine industry. Partner support allows the association to expand its offerings and create a positive, long-term impact on MRAA members’ business.

    • BoatBot (Newport Beach, Calif.) is an A.I. powered yacht management solution designed to simplify and streamline the management of a consumer’s boat. For vendors, BoatBot provides AI-generated service reminders, payment and invoice tracking, and integration with QuickBooks.
    • Gemeco (Lake City, S.C.) is a wholesale marine distributor serving thousands of dealers, distributors, and boat builders across the Americas, Australia, and New Zealand.
    • Gilson (Grand Rapids, Mich.) develops, produces and delivers creative, targeted sales and marketing materials for customers in a variety of industries.
    • Makefast USA (Maryland, Mass.) designs and manufactures innovative marine hardware, specializing in boat sunroofs, awnings and fastening systems that enhance onboard comfort and functionality.
    • North Star Mutual Insurance (Cottonwood, Minn.) provides property and casualty insurance with a focus on delivering reliable coverage and personalized service to policyholders in the Midwest.
    • Octane (New York, N.Y.) provides digital lending solutions that make it easier to finance powersports vehicles, including boats, RVs and ATVs. Their platform connects customers with financing options, streamlining the buying process for dealers and consumers.
    • Supreme BI (Bellevue, Wash.) provides Marine Dealerships with robust critical data analysis and visual reporting for insightful and informed decision making.
    • Wintron Electronics (Manasquan, N.J.) is a wholesale marine electronic accessories supplier that provides high-quality products from marine industry brands.
    • XPEL (San Antonio, Texas) is a provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films and ceramic coatings.

    “We welcome these innovative companies as new Partner Members and their commitment to the MRAA,” says Allison Gruhn, MRAA VP of Business Development. “Their support will enable us to deliver even greater value and resources to the marine retailers we serve.”

    Dealer members are encouraged to explore the list of companies that actively support the MRAA across four partnership levels. View the complete list.

    About the Marine Retailers Association of the Americas
    At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

    MRAA Launches Service Advisor Certification

    MINNEAPOLIS, October 1 – The Marine Retailers Association of the Americas (MRAA) announces the launch of its all-new Service Advisor Certification Program – a high-demand, position-specific certification designed to elevate a dealership’s service department by boosting technician efficiency, driving up revenue and profits, and transforming customer experience.

    MRAA Launches Service Advisor Certification

    “Not only does the service advisor spend the most time with the customer over their ownership cycle compared to every other position,” said Lead Instructor and Subject Matter Expert Valerie Ziebron of VRZ Consulting, “but they are the gatekeeper to the dealership’s most complex department.”

    When you register a team member for MRAA’s Service Advisor Certification Program, you can be confident that, by the end, they will be equipped with the skills, tools and strategies to enhance communication, streamline processes, make the shop more money and deliver exceptional customer service.

    To build MRAA’s Service Advisor Certification, the education team and Ziebron consulted with leading service department professionals who shared proven solutions to common service pain points and samples of practical and effective tools to be shared as part of this program.

    The Service Advisor Certification Program includes a 7-course, online training package, a 124-page printed workbook and study guide, and dozens of downloadable digital resources, customizable tools and templates.
    This robust educational offering covers critical areas such as: Effective communication, customer retention strategies, time management and organization, conflict resolution, and sales strategies. Participants will have from Oct. 22, 2024 to Jan. 20, 2025 to complete the program on their schedule. They will have the opportunity to earn their official credential through a proctored online exam.

    “Our Service Advisor Certification Program focuses on developing the essential skills that turn a service professional into a Master Advisor, invaluable to the dealership’s success,” said Liz Walz, MRAA Vice President of Education. “Thanks to training that features marine industry expertise and real-world solutions, participants will walk away with the knowledge and tools to exceed customer expectations and improve service department performance.”

    MRAA’s Service Advisor Certification Program comes on the heels of the Service Management Certification program developed in partnership between MRAA and the American Boat & Yacht Council (ABYC), launched in January 2024 and available now for an MRAA fall session. Nearly 50 service management professionals participated in MRAA’s first Service Management Certification class in the spring, and more continue to join the class this fall.

    To learn more about or enroll in Service Advisor Certification, visit mraa.com/service-advisor-certification. For more on the ABYC / MRAA Service Management Certification Program, visit mraa.com/servicecertification.

    About the Marine Retailers Association of the Americas
    At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.

    SBLC Corporate Transparency Act Webinar

    Join a webinar Thursday, Oct. 10, hosted by the Small Business Legislative Council (SBLC) to learn more about the Corporate Transparency Act and the reporting requirements for small businesses.

    Attorneys from Barnes & Thornburg will generally discuss the basics of the reporting requirements under the Corporate Transparency Act and, importantly for small businesses, will thoroughly explain the three primary exceptions to the statute used by small businesses to exempt themselves from this burdensome reporting.

    As background, on January 1, 2024, the Corporate Transparency Act (“CTA”) fully came into effect and imposes reporting obligations on all business entities that are within the scope of the definition of “reporting company” under the statute. Entities that do not fall within one of the CTA’s categories of exemptions will be required to file a beneficial ownership information report (“BOI report”) with the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). Most companies in the United States will be required to file an initial BOI Report by December 31, 2024.

    To register for the webinar, click here.

    For any questions about the SBLC, CTA, or to learn more, do not hesitate to reach out to Chad Tokowicz, MRAA Government Relations Manager at Chad@mraa.com