WASHINGTON, D.C. (Jan. 31, 2017) — President Trump has signed an executive order designed to cut regulations for small business, a move welcomed by small business pundits.
The new order directs regulatory agencies to eliminate at least two existing regulations for every new regulation issued and to "prudently" manage and control costs.
Among the first to comment on the new order were the National Federation of Independent Business (NFIB) and National Small Business Association (NSBA).
The NFIB called the move a "good first step on the long road toward eliminating ball-and-chain regulations so small businesses can create jobs and expand the economy," while the NSBA called it a "very welcome first step" toward reining in the "massive federal regulatory web."
According to NFIB research, small business owners rank unreasonable government regulations as their second most important problem and have rated them in their top three concerns for 96 consecutive months.