How Many More Ways Could We Possibly Stifle Small Business?

I came across an interesting column today over at OpenMarket.org, discussing how to help small businesses across America. I recommend the entire column, but the three highlighted sections below merit particular attention.

“Paychex, Inc., a payroll service provider that works with many small businesses, recently commissioned a survey. They asked small business owners their thoughts on the economy, and what the biggest obstacles are to growing their businesses. The most common gripe? Regulation. 47 percent of small business owners say that regulations have “slowed or prevented” their business from growing.”

This is where bureaucracy gets in the way of real economic growth. Damn, just get out of the way and let those with initiative and drive and capital investment put people to work.

“If Congress is genuinely interested in helping small businesses while speeding up economic recovery, it’s time for a different approach.”

Can you join me in saying “Transformational Change”?

“Federal regulation alone costs $1.75 trillion to comply with. Congress should lighten the load. 47 percent of small business owners say that regulation has made their business grow more slowly. Letting that 47 percent grow more quickly would go a long way toward getting the economy growing again.”

Almost $2,000,000,000,000 (yes, that’s 12 0’s) just to comply with regulations!

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Filed under economic growth, economic policy, paul ryan, sba, small business, transformational change

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