It’s no enigma what is stifling job creation and smothering small businesses. Here are the results of a new survey of small businesses on what impedes their growth:
A new nationwide survey of small business owners and managers finds that 69% believe complicated government regulations are “major impediments to the creation of new jobs.” Of those surveyed, 68% said that more businesses are investing in new technology rather than new employees “to avoid complications created by federal employment laws, mandates and regulations.”
Small business owners and managers are on the frontline of job creation. Small business employs half of the nation’s private-sector workforce and accounts for over 99% of employers.
When it comes to implementing regulations, 86% of those surveyed said that regulations would be more effective in protecting public health and safety if they gave business “clear, certain goals” as well as “more freedom to use common sense in making daily decisions.” In addition, 89% said that most government bureaucrats make decisions “based on rules and not on common sense.”
The top two obstacles to business growth and job creation, according to those surveyed, are burdensome government regulations (27%) and a legal system that encourages too many lawsuits (23%). These were followed by difficulty obtaining financing (20%), high taxes on business (18%), availability of a qualified workforce (9%) and the rising cost of energy (7%).
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