Young people coming out of college are not entering the business/entrepreneurial market.
Only 3.6% of all American private businesses are owned by someone under the age of 30. Business start-ups have also declined considerably, compared to the roaring economic growth of the 1980’s.
What is killing new businesses before they even begin? Big Government!
When I got out of college, I started my business. Broke and working on a non-existent budget, I by the grace of God was able to build a successful business—now over thirty years old.
Despite the recession and lack of resources, I was free to pursue my dream and take the risk.
But I’d never make it today.
The US Code of Federal Regulations has spiraled out to over 175,000 pages, with the vast majority of regulatory burdens increased under the Obama Administration. The occupational licensing has also hampered business expansion, since one out of three employees must earn some kind of certification to work.
Recently announced overtime rules have expanded the number of employees who can earn overtime pay, and force employees to monitor employee hours. This terrible rule discourages telecommuting.
And the new minimum wage laws make it impossible for a young company to start up and grow.
Who has benefited from Big Government regulatory abuses?
Major corporations and established businesses.
Tell me what you think. Email me at [email protected]