Whats New?

A new administration may mean less regulation for small businesses

With the incoming President, many small businesses are hoping big changes are on the horizon for inconvenient Federal regulations.  According to National Small Business Association, “Federal regulations were cited as the most burdensome kind by 58 percent of owners” versus local and state regulations.    As this excerpt from ABC News explains

Businesses with fewer than 50 workers paid an average of $11,724 per employee to comply with federal regulations, compared with less than $10,000 for companies of all sizes, a 2014 report released by the National Association of Manufacturers found. Manufacturers with fewer than 50 workers paid an average of $34,671 per worker, while manufacturers of all sizes averaged $19,564.

For all the good President Obama did during his tenure, there have been rumblings of his overzealous nature as it pertains to regulations particularly in the financial an environmental sectors.  The relief many small businesses will get should drive profits up as less regulation means less mandatory costs for many organizations.  In addition, new rules focusing on overtime and Healthcare are set to change as well under a Trump administration.

When it came to handling a country in recession and navigating us towards greener pastures, Obama for the most part, did a terrific job.  His weakness was his inability to grow the country as we transitioned out of it.  Now with the Trump era beginning we will see if The Donald has what it takes to lead our country to prosperity.

http://abcnews.go.com/US/wireStory/small-businesses-hope-obama-backed-rules-scrapped-44855575

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: