Many small business owners have had complaints regarding recent healthcare law revisions, and many other policies enacted in the U.S. across the past few years. Now a recent study has displayed the extent of that discontent, finding that the majority of U.S. small business owners feel that, in one way or another, the deck is being stacked against them.
A recent study conducted by TriNet found that roughly 67 percent of all small business owners believe “the U.S. Government’s policies are unfavorable toward small businesses,” with 32 percent of that group feeling that the policies are even “very unfavorable.” Additionally, 56 percent of small business owners believe that legislation is hampering their ability to generate revenue, and 53 percent of respondents feel that legislation is hampering the overall economic health of the country itself.
The study then went into further detail regarding which specific policies small business owners feel are hampering their ability to do business. According to the study, roughly 75 percent of small business owners feel regulations regarding employee benefits are restricting their company’s growth, and the same amount of respondents said the same thing about state-level regulations regarding benefits. Additionally, almost 80 percent of all respondents said they were familiar with the Affordable Care Act, and 35 percent of respondents note that the effect of the ACA on their business has been “worse than expected.”
Citing data from the Heritage Foundation, the TriNet release noted that the cost of federal regulations to businesses rose by roughly $70 billion between 2009 and 2013, illustrating the extent to which it has become more expensive to run your own business. Then, citing data from the U.S. Small Business Administration, the report noted that the average cost per-employee for businesses with 19 or fewer employees was roughly $3,000 higher than the per-employee costs for businesses that employ 500 or more people, showing that big businesses are facing much lower overhead costs in regards to employees than small business owners are.
Burton Goldfield, president and CEO of TriNet, concluded the release by noting that “complying with government regulations can be a complex issue.” It’s clear, from this report, that regulations are causing big headaches for entrepreneurs – and necessitating the need for more funds, and thus, more small business loans.