A number of business advocacy groups released an open letter to President Barack Obama this week, outlining five key steps to improving conditions for small businesses through comprehensive regulatory reform.
The National Federation of Independent Business and Small Business for Sensible Regulations called on the president to enact the following measures:
1.) Enhance small businesses' voice in the federal regulatory process.
2.) Provide assistance to small companies before assessing penalties.
3.) Subject every major regulation to rigorous cost-benefit analysis.
4.) Base regulations on objective data and hard science.
5.) Require more transparency and accountability in the regulatory process.
The groups cited a recent Gallup poll that found small businesses pay roughly 36 percent more per employee in compliance costs than large companies.
"Continued escalation of regulations will push companies like mine to a point where we simply can't sell those types of jobs at a profit anymore," said Tim Englert, owner of a construction firm in Akron, Ohio. "While there are some regulations that make perfect sense, others seem to address a very minimal risk with considerable time and money."
Tags : Operating Agreements, Corporate Books, Taxes, LLC, Certified Documents, Business Licenses
Posted: Nov 1st, 2011