Washington, D.C. – The nation’s leading small-business organization, the National Federation of Independent Business (NFIB) today launched a new campaign targeting the increasing number of regulations handed down by the Obama administration that are hampering small business’ ability to create jobs and economic growth. The multi-year effort aims to give voice to small businesses, which create two-thirds of the net new jobs in the U.S. each year. NFIB President Dan Danner joined NFIB Vice President/Ohio Executive Director Roger R. Geiger to announce Small Businesses for Sensible Regulations.
“In NFIB’s history, few issues have been more important to America’s small businesses than bringing balance to the federal regulatory process,” Danner stated. “Complying with federal regulations is incredibly costly to small businesses - the average business pays over $10,000 dollars per employee to stay in line with government rules.”
According to a report conducted for the Small Business Administration’s office of advocacy last year, government regulations currently cost the U.S. economy $1.75 trillion a year, or more than 12 percent of our national GDP. In the last five years, there has been a 60 percent increase in pending federal regulations that are defined as “major” or “economically significant” – costing the economy $100 million or more.
“Ohio small businesses already face high regulatory compliance costs which are limiting their ability to grow,” added Geiger. “The state unemployment rate continues to hover dangerously near nine percent, yet federal oversight agencies are intent on increasing the number of growth limiting regulations. This simply isn’t the time”
Small Businesses for Sensible Regulations seeks to ensure that the administration includes independent analysis of the long-term impacts of federal regulations on jobs, economic growth, and other indirect costs like retaining American industries in the federal regulatory process moving forward.
Over the next several months, the coalition will work to bring personal stories of those facing economic hardships as a result of regulations to the national spotlight. The campaign will also release state economic and other analysis to expose the heavy regulatory burdens suffered by small business owners.
Friday, August 05, 2011
NFIB Launches Campaign to Highlight Regulatory Burden on Ohio Small Businesses