According to the SBA, "the cost of doing business is 36% higher at small companies compared with their larger counterparts, a representative of the Small Business Administration told the Senate. The added costs are the result of government regulations including tax-related costs and environmental requirements. The disparity makes it more difficult for small businesses to compete, said Winslow Sargeant, the agency's chief counsel for advocacy".
A couple of interesting facts; small businesses employ the majority of all workers and are usually the first to recover from a slow economy. Contrary to popular thought, small business owners are not wealthy and struggle just like everyone else. In most cases they struggle even more than their employees!
We need to reduce regulation, cut small business taxes and do everything we can to promote small business. We need to help small businesses to survive so that they can begin hiring again and put America back to work!
Reg Baker, CPA
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