President Trump signs new executive order cutting government regulations on small businesses cbsn.ws/2jNr04u
What does this even do/mean?
It cuts down on what small businesses must do for the government, ideally allowing them to function better.
What does this mean, actually though.
The little I read only said that they will need to get rid of two regulations for every new one and no new regulations will be funded. Is there something more that I’m missing? How will this help small businesses?
As someone who has worked in finance at a small business, this will allow small businesses to compete in the marketplace. It’s not a perfect solution, but it’s a move in the right direction.
What does this mean though? How will it allow them to compete? I have no idea what this order does.
This government report is dated (2010), but should give you a flavor for the issue. In 2008 the annual regulatory cost for small businesses was $10,585 per employee. I didn’t look up the added regulatory costs incurred from 8 years of the Obama administration, but given ACA, Its reasonable to assume the costs didn’t go down.
Lower regulatory costs means more money to invest in growing your business.
I mean, understand the concept on a general, conceptual level. But these are the impacts of hundreds of regulations - what specifically does this EO roll back?
As I understand it, nothing yet, other than setting the tone for those in government who issue regulations…if you want to add a new one, get rid of two old ones.
I think its more about setting expectations at this point.