Celebrate Small Businesses – They Do an Economy Good
Ericka Andersen /
This week is U.S. Small Business Week, and it’s important to take a moment to recognize those companies that have done so much for the country. It’s especially important because so many of these businesses are being threatened by regulatory burdens imposed by Obamacare and a slew of other economic and environmental regulations.
America’s 27.2 million small businesses employ nearly 60 million people. Despite their important contribution to the country’s economy, these companies face some of the steepest regulatory costs around. According to one study commissioned by the U.S. Small Business Administration, firms with fewer than 20 employees actually pay 36 percent more in regulatory costs per employee than larger companies. Such a burden makes it difficult for a small business to get off the ground and actually serves to discourage people from even trying to start one, resulting in a stunted economy and less job growth. (more…)