Small business burdens: regulatory requirements

Paperwork has always been a burden for businesses of all sizes, especially paperwork that is required by various government agencies in response to regulatory requirements. However, while large companies often have well-staffed departments that specialize in the various paperwork requirements imposed on businesses by government agencies, small businesses often find the paperwork requirements to be crushing, since few of them have full-time staff people devoted to these matters, or even individuals with the necessary expertise.

“Small businesses face record levels of red tape under President Obama’s policies, and America’s small manufacturers can attest that the regulatory burden is a growing problem,” said Rep. Sam Graves (R-MO), chair of the House Committee on Small Business. “Compliance costs are soaring for small businesses, which often do not have the employee expertise to decipher and handle more government paperwork and other mandates.” As a result, according to Chairman Graves, small businesses are “forced to invest in attorneys, accountants, consultants, tax preparers, and other advisors, rather than their companies.”