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, 2001
The Small Business Research Summary)
Posted: Sunday 5th 1:57 AM
