Regulation might not have killed businesses, but deregulation might.
According to a survey from The Workforce Institute at Kronos, the constant changes to and elimination of regulations by the Trump administration are wreaking havoc on businesses, particularly small businesses. The reasons? Cost and time to comply.
A report from Nav points out that more than half of business owners surveyed say they're spending between $40,000–$100,000 just to prepare for new business regulations — and those costs can take a tidy bite out of profits. And among the businesses who track those costs — not all businesses do — these additional expenses include such activities as hiring legal consultation, the creation of new HR and workplace policy, training and education.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
