NSBA Responds to Executive Order on RegulationsJanuary 30, 2017
Washington, D.C. – The National Small Business Association (NSBA) applauds President Donald Trump’s efforts to ease the regulatory burden weighing down America’s small businesses. Through signing an Executive Order (EO), the administration directed regulators that for every rule promulgated, two shall be identified for elimination; and established a zero-growth regulatory financial cost cap for 2017.
Below is a statement from NSBA President and CEO Todd McCracken in reaction to the EO.
“According to our recently-released 2017 Small Business Regulations Survey, the average small-business owner is spending at least $12,000 every year dealing with regulations. President Trump’s executive order to rein-in the massive federal regulatory web is very welcome first step.
“Our federal regulations have real-world implications for economic growth: more than half of small businesses have held off on hiring a new employee due to regulatory burdens. This burden is becoming an insurmountable burden to those who would consider starting their own business: when asked to estimate their businesses’ first year’s regulatory costs, the average was a whopping $83,019.”
“Every hour a small-business owner is reading, commenting or complying with a new regulation is time he/she isn’t spending on growing the business and creating more jobs. We look forward to working with the Administration as the many remaining details and decisions are worked through, to ensure that reducing regulations on smaller businesses will be a top priority and that regulatory policy moving forward is maximally effective for small businesses.”
Please click here to download NSBA’s 2017 Small Business Regulations Survey.
Celebrating 80 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S. Please visit www.nsba.biz or follow us at @NSBAAdvocate.