President Donald Trump has signed an executive order to reduce regulations on small businesses and the National Federation of Independent Business is eagerly awaiting to see which restrictions are cut. State Director Dawn Starns says this order can only help business owners run and grow their businesses.
“To see the president take this action is huge. It doesn’t turn everything around overnight but it’s a good first step to eliminating the ball and chain regulations that small business has around its neck.”
Starns says they are still learning about which exact regulations Trump reduced because the Obama administration placed so many restrictions on small businesses.
“We have to kind of go through the process, so there aren’t specifics available right now but we’re working with the administration to see how they go about implementing the order and what that means for each regulation.”
Starns says she ultimately hopes the cost of compliance for small business drops and the complexity of laws they are required to follow are simplified.
“This is kind of broad right now and we’ll see have to see how it plays out and there is certainly a long road ahead but we believe this is a great first step.”