The nation’s leading small-business organization, the National Federation of Independent Business (NFIB) launched a new campaign targeting the increasing number of regulations handed down by the Obama administration that are hampering small business’ ability to create jobs and economic growth. The multi-year effort aims to give voice to small businesses, which create two-thirds of the net new jobs in the U.S. each year. NFIB President Dan Danner and NFIB/Florida Executive Director Bill Herrle announced Small Businesses for Sensible Regulations today during a media conference.
“In NFIB’s history, few issues have been more important to America’s small businesses than bringing balance to the federal regulatory process,” NFIB President Dan Danner said. “Complying with federal regulations is incredibly costly to small businesses – the average business pays over $10,000 dollars per employee to stay in line with government rules.”
According to a report conducted for the Small Business Administration’s office of advocacy last year, government regulations currently cost the U.S. economy $1.75 trillion a year, or more than 12 percent of our national GDP. In the last five years, there has been a 60 percent increase in pending federal regulations that are defined as “major” or “economically significant” – costing the economy $100 million or more.
“Florida’s small businesses are facing an uphill battle against the growing number of federal regulations and the high costs they entail,” added Bill Herrle, NFIB/Florida executive director. “Our members cannot grow and invest in new jobs with bureaucratic delays and red tape. The aggressive federal regulations with which Florida’s small businesses have had to keep pace are shutting down some businesses and fracturing others. This new effort will give a microphone to those businesses and minimize the government’s overreach on their bottom line.”
Small Businesses for Sensible Regulations seeks to ensure that the administration includes independent analysis of the long-term impacts of federal regulations on jobs, economic growth, and other indirect costs like retaining American industries in the federal regulatory process moving forward.
In Florida, the coalition effort is ramping up as petitions are gathered from small-business owners who are facing economic hardships as a result of these regulatory burdens. Florida business owners are coming together in this coalition to encourage lawmakers to adopt a regulatory agenda that does not drive up prices, stifle the economy and hamper economic recovery. Over the coming weeks, the coalition will bring these stories to the national spotlight.