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On March 6, 2026, the Indiana State Legislature passed a landmark bill aimed at expanding protections for small businesses in the state. The bill, known as the Small Business Protection Act, includes provisions designed to level the playing field for small businesses in Indiana and promote economic growth.One of the key provisions of the bill is the establishment of a Small Business Ombudsman office, which will serve as a resource for small business owners seeking guidance on compliance with state laws and regulations. The office will provide information and assistance on a wide range of issues, including licensing and permitting requirements, tax obligations, and employment laws.In addition to the creation of the Small Business Ombudsman office, the bill also includes measures to streamline the process for small businesses to access capital and financing. This includes the establishment of a loan guarantee program to help small businesses secure financing from traditional lenders, as well as provisions for alternative funding sources such as angel investors and crowdfunding platforms.Furthermore, the bill includes new protections for small businesses in their dealings with larger corporations. The bill prohibits unfair competitive practices, such as predatory pricing and monopolistic behavior, and provides small businesses with recourse through the state attorney general's office.Indiana Governor John Smith praised the passage of the bill, stating that it will help small businesses thrive and create jobs in communities across the state. "Small businesses are the backbone of our economy, and we must do everything we can to support their success," Governor Smith said in a statement.The Small Business Protection Act is set to go into effect on January 1, 2027, and small business owners in Indiana are hopeful that the new law will provide them with the tools they need to grow and succeed in the competitive business environment.