Impact that Government Regulations Have on Small Businesses
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Outline or provide a summary in which to develop a research question(s) and provide supportive statements that clarify and elaborate upon the topic: the impact that government regulations have on small businesses.
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The expert impacts that government regulations on having a small business.
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The Small Business Administration sponsored a study that claimed, until 2008, the regulatory costs of (only) federal mandates cost business about $1.75 trillion. Of this, small businesses bear the brunt of this burden. For businesses with 20 or fewer employees, the cost of federal regulations per employee is $10,585. For larger firms, it is $8,086 per employee. Yet, total costs of federal regulations remain a subject of dispute, estimates range from $62 billion to well over $1 trillion. This demands an explanation in and of itself.
Most costs of federal regulations are hidden. In addition, many studies that estimate the costs of federal regulations a) only deal with major, well known mandates, and b) do not go back more than 10 years. Eve more, federal agencies themselves provide estimates of the cost of their own enforcement, which are, presumably, biased.
For small businesses, the major regulations are mostly economic in nature, costing about $4,000 per employee. These deal with all regulations affecting trade and production. After that, environmental regulations come in second, costing about $1500 per employee. Third and fourth are tax compliance and miscellaneous state requirements such as security, safety and health regulations. These combined come to about $1200 per employee. For larger firms, compliance with these are substantially lower.
Even more significantly, the SBA study found that ...
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