PEOs in the Community
Donating Time, Talent, and Treasures to Local Organization
Anne Swenson, PHR
In January of 2015, MidwestHR launched its giving back program called the 180 Initiative. This program provides our employees an opportunity to donate time, talent, and treasures to local organizations. The 180 Initiative Committee organizes five offsite events each year, along with six onsite events, to accommodate many schedules. We partner with an array of non-profit organizations that align with the interests of our employees, ranging from Habitat for Humanity to children’s health organizations. We strive to make the programs engaging and inclusive to our staff.
Small Business Perspective
Half of Small Businesses Say Regulations are a Problem, NFIB Research Finds
Roughly half of all small business owners say regulations are a “very serious” or “somewhat serious problem,” according to new research made public recently by the National Federation of Independent Business (NFIB).
“Small business owners are drowning in regulations imposed by every level of government,” said NFIB President and CEO Juanita Duggan. “It’s a major problem affecting millions of businesses, and the federal government is the biggest contributor.”
Half of Small Businesses Say Regulations are a Problem, NFIB Research Finds
Cost is the single biggest regulatory headache, followed by confusion over how to comply, according to National Federation of Independent Business
Roughly half of all small business owners say regulations are a “very serious” or “somewhat serious problem,” according to new research made public recently by the National Federation of Independent Business (NFIB).
“Small business owners are drowning in regulations imposed by every level of government,” said NFIB President and CEO Juanita Duggan. “It’s a major problem affecting millions of businesses, and the federal government is the biggest contributor.”
According to the survey, 25 percent of small employers say regulations are a “very serious problem.” Another 23 percent say regulations are a “somewhat serious problem.”
While regulations affect small businesses of every size, firms with 20 to 249 employees seem to be struggling the most. Among that cohort, 38 percent described regulations as a “very serious problem.” Another 26 percent said regulations are a “somewhat serious problem.”
“Some regulations exempt firms with fewer employees,” said NFIB Research Director Holly Wade. “Regulations are a problem for employers in every size cohort, but the pain gets more intense with more employees. This creates a clear disincentive to add jobs, and overregulation should be the first consideration for policymakers.”
Twenty-eight percent of small employers cited cost as their biggest regulatory problem. Other problems cited were: “understanding how to comply” (18 percent); “extra paperwork” (17 percent); and “time delays” caused by regulations (10 percent).
Slightly more than half of small firms said the number of regulations with which they must comply has increased in the last three years. Within that figure, 65 percent of firms with 20 to 249 employees said their regulatory burdens have increased in the last three years.
Other key findings include:
• The volume of regulations is the largest problem for 55 percent of small employers, compared to 37 percent who are most troubled by a few specific regulations coming from one or two sources.
• One-third of small employers have had a government official enter their places of business to inspect or examine their records and/or licenses or otherwise check on their compliance with some government requirement in the last 12 months. For larger small businesses, 57 percent were visited in the last 12 months, compared to 28 percent for the smallest ones.
• Over the last three years, 41 percent of small employers have contacted a government agency for help complying with a regulation. About 19 percent of those were very satisfied with their experience.
• Almost one in 10 small employers has been fined, sued, or penalized for a regulatory violation in the last three years. Larger businesses are twice as likely to have this occur compared to smaller ones.
• Twenty percent find that regulations affecting their businesses have no relevance to safety or consumer protection. Thirty-one percent find them of little or no value for customers or consumers and not worth the cost of compliance.
“In simple terms, regulatory compliance uses valuable human and financial capital, which is in short supply for small employers,” said Wade. “Regulations drain trillions of dollars from the economy and the value of many is questionable. Employers and the public are not getting their money’s worth.”
The full report is available at http://411sbfacts.com/files/Regulations%202017.pdf.
To explore broader business issues and relate them to the PEO world, PEO Insider® has obtained permission to reprint material from the National Federation of Independent Business (NFIB). This broader perspective from the business world at large can help connect the PEO industry with the larger business community and help NAPEO build coalitions with organizations with similar goals.