David vs. Goliath – Small Business Struggles Under Weight Of Federal Regulations
Before he left, Chief Counsel for Advocacy Thomas M. Sullivan left behind some final thoughts for our blog:
Looking back at my tenure as Chief Counsel for Advocacy, I am struck by how daunting it must be for a small business to keep up with rules and regulations. The Mercatus Center described the amount of federal regulations as taking up “20 feet of shelf space.” Moreover, our research shows that the smallest of businesses annually pay 45% more per employee to comply with federal regulations than big businesses do. Neither of those figures takes into account state and local regulations. Indeed, for someone thinking about starting a business, that makes a scary road to travel.
— Thomas M. Sullivan, Chief Counsel for Advocacy