A Majority of Small Businesses Say Regulations Hinder Growth
Raoul Sada • 20 December 2024
DEATH BY A THOUSAND CUTS
Taxes and recordkeeping are the top regulatory compliance issues small businesses report spending time on. Confidence in revenue, investment, and hiring plans was strong across the board.
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Related Research: The Regulatory Impact on Small Businesses: Complex. Cumbersome. Costly
Strong economic growth benefits small businesses and all Americans. However, new data in the MetLife & U.S. Chamber of Commerce Small Business Index for Q4 2024 further proves that burdensome regulations hinder growth.
By the numbers:
- 51% of small businesses said licensing, certification, and permit requirements make it harder to grow.
- 47% said they spend too much time complying with regulations.
- 69% said they spend more per employee to comply with regulations than larger competitors.
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