WASHINGTON (Oct. 1, 2013) — Unreasonable government regulations are hampering small business growth, an official of the National Federation of Independent Business (NFIB) told a subcommittee of the House Judiciary Committee recently.
NFIB official: Gov. regs hamper small biz
"From Jan. 1 through Sept. 27 of this year, federal agencies have issued 2,878 rules," said Nicole Riley, NFIB Virginia state director, at a Sept. 30 hearing of the Subcommittee on Regulatory Reform, Commercial and Antitrust Law.
"That is more than 10 new requirements a day that small business owners need to review to see if they apply to their business," Ms. Riley said.
Ms. Riley cited a 2010 study by the U.S. Small Business Administration, which demonstrated that small business owners pay an average of $10,585 annually to comply with federal regulations, 36 percent more than large companies.
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