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Regulation Nation: Small Businesses

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  • Description

    Is expanding rulebook hurting growth?

  • Duration 2:29
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We continue our series about excessive regulations tonight focusing on small business.

Chief Washington correspondent James Rosen reports while the companies may not be large.

The rule books they must follow are getting bigger all the time jams.

-- good evening there are close to 28 million small businesses in the United States in the employ more than half of all private sector workers.

One problem is that as He hires more people a small business owner will -- not know about new regulations He faces.

Until after he's been found in violation of them or perhaps even find.

Businesses -- just one employee face right off the bat at least ten federal regulations.

Including predictable ones like Social Security but also the polygraph protection act.

Grow your business to 25 employees new face all of those -- a whole new raft of them including the older worker benefit protection act.

Surely every pizzeria owner has that memorized and the list grows like -- being stalked.

When your company grows to 100 employees last year we saw a distinct rise in the number of proposed federal rules affecting small businesses you can see from 758845.

And the small or -- is.

Fewer than twenty employees say the more expensive it gets per employee to comply with those regulations.

Five federal agencies last year proposed 501 of those 845 rules were talking about roughly 59% of the total they are the departments of agriculture and commerce.

Health and human services the Environmental Protection Agency and the Federal Communications Commission.

-- President Obama has pledged to streamline and pare back the US is regulatory burden.

But would limits.

I reject the argument that says for the economy to grow we have to roll back protections that ban hidden fees by credit card companies.

Rules that keep -- -- from being exposed to Mercury.

-- -- about the health insurance industry from shortchanging patients.

The head of the nation's oldest small business advocacy group explained to Fox News how regulations adversely impact on small business owners.

In -- real time way every minute they spend.

Didn't -- -- regulation is a -- they're not spending and growing their business.

Meeting of customers.

Developing new products.

Mentor and employees.

And all those with the components treated -- economy going again.

In fairness to President Obama federal regulatory spending has grown steadily since the early sixties with a doubling of those budget -- Even in decades dominated by Republican presidents Brett.

James thank you.

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