How do regulations affect small firms?
Very small firms with fewer than 20 employees spend 60 percent more per employee than larger firms to comply with federal regulations. Small firms spend twice as much on tax compliance as their larger counterparts.
Take a look at the chart below:
| Type of Regulation | <20 Employees | 500+Employees | | All Federal Regulation | $6,975 | $4,463 | | Environmental | 3,328 | 717 | | Economic | 1,616 | 2,485 | | Workplace | 829 | 698 | | Tax Compliance | 1,202 | 562 | Source: The Impact of Regulatory Costs of Small Firms, an Advocacy-funded study by W. Mark Crain and Thomas D. Hopkins, August 2001
The Small Business Research Summary)
Posted: Sunday 5th June 2005, 1:57 AM
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