by Sean Hackbarth
U.S. Chamber of Commerce
CNBC asked founder and CEO of Subway restaurants, Fred Deluca, if it’s gotten harder or easier to start a business since he launched his in 1965. He had a startling answer:
It’s continuously gotten worse, because there’s more and more regulations. It’s tougher for people to get into business. Especially a small business. I tell you, if I started Subway today, Subway would not exist, because I had an easy time of it in the ’60s when I started. I just see a continuous increase in regulation.
The U.S. Chamber’s Small Business Outlook Survey found similar pessimism. Fifty-four percent think the small business climate will get worse in the next two years.
Policymakers should listen and look for ways to reform the regulatory process so that rules are based on sound science and cost-benefit analysis, are clear to the public, and encourages—not harms—job creation and economic growth.
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