The 2016 version of the State of Small Business Report has just been released and the main thrust of it is that most American small business owners are not happy with the federal government at all. A full half of those surveyed for the report believe that the federal government needs to do more that just political posturing. The research spoke with 1,100 small business owners from various parts of the country. The federal government, they declare, needs to start putting the needs of American small business first.
So why the lack of love for the government? Many of them believe that it is creating more burdens for small business and the challenges and anxieties faced by the small business owner everyday is being brought on by government actions. The major problem, as most small business owners see it, is the continuing uncertainty of the tax code and of business laws in general.
The major challenges right now
Small business owners think that it is almost impossible to plan ahead because of continuous government regulations, employment laws, permits, fees, and more tax hikes. According to the report, the top consideration, business wise, is hiring on new employees and trying to maximize profits. Other major concerns are how to grow the business and revenues as well as the increasing burden of employee health insurance. About 85% of small businesses want to take on new employees but are distressed because they are finding that they simply can’t find viable and qualified people.
Too much paperwork and regulation is stifling growth
Most small business owners believe they are spending far too much time wading through compliance procedures for countless regulations rather than taking care of their business. According to government sources, agencies and departments issue an average of 22 new regulations a day. That’s 8,000 new regulations a year that business owners must waste time wading through.
Small business owners echo sentiments everywhere that the time and the cost of having to deal with the government is stifling their businesses. All of the time they spend placating the government means less opportunity to hire, grow, or raise capital. In the end, it is a call for small business owners to unite against the continuing and crushing burden that governments place on them.
– Written by Kevin Sawyer