Small businesses are sinking under the weight of regulations, according to a new survey conducted by the National Small Business Association.
“The average small-business owner is spending at least $12,000 every year dealing with regulations,” said NSBA President and CEO Todd McCracken. “This has real-world implications: more than half of small businesses have held off on hiring a new employee due to regulatory burdens.”
The association surveyed 1,000 small-business owners Nov. 28, 2016 to Jan. 10, 2017, online.
The worst regulations, according to those surveyed deal with the federal tax code and rules mandated by the Affordable Care Act.
New President Donald J. Trump has vowed to repeal the ACA, often called Obamacare, and streamline regulations and business taxes.
The full survey results are here.