Problem
In the period of March 2009 to March 2012, approximately 10,215 new regulations were directed at business. One hundred and six of these were major regulations, with an estimated annual impact of more than $100 million per year. It is estimated that a firm with fewer than 20 employees spends $10,585.00 per employee to comply with regulations. Small business owners identify regulations and red tape as their second biggest problem, behind poor sales. In what areas should business be regulated? Do you think there is too much regulation? If so, in what areas would you cut back regulation?