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A just-released survey of small business owners shows a vast majority do not consider regulations as a major concern. Instead, the survey shows weak demand is the primary problem for their business right now, not regulations.
- Weak demand is small business owners’ biggest problem: 34% of respondents said weak demand is their biggest problem, while 15% cited the cost of health coverage and other benefits. Only 14% said it is the level of government regulation. The level of taxes came in fourth place with 12% and competition with larger companies garnered 10%.
- Small business owners see regulations as a necessary part of a modern economy and believe they can live with them if they’re fair and reasonable: 86% of small business owners agree some regulation of business is necessary for a modern economy, and 93% of them agree their business can live with some regulation if it is fair, manageable and reasonable.