"Government regulations and red tape are one of the top concerns of our members," said Karen Harned, executive director of the Small Business Legal Center at the National Federation of Independent Business (NFIB), in a recent press release.
According to Harned, most small business owners cannot count on regulatory compliance specialists and lawyers to help them keep up with all of the new federal regulations that they must follow. Only larger companies can afford these specialists. "With an average of ten new regulations a day, small business owners are spending more time on paperwork and less time focusing on their business," she said. "That is bad for their bottom line and for job growth nationwide."
Harned added that regulatory costs for small businesses are now almost $12,000 per employee per year, which is 30 percent higher than the regulatory cost burden that larger businesses face.
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