A majority of business owners would not go into business again if given the chance, new research finds. Fifty-five percent of business owners would not start a business in the current economy, the research revealed.
Nearly 70 percent of business owners said that regulatory policies put in place by the government have hurt small businesses and manufacturers. A majority of business owners also said the governments of China and India are more supportive of small businesses in those countries than the United States government is of American small businesses.
"The small businesses who are the engine of our economy are clamoring for their elected representatives to stand up and lead so they can focus on the business of getting America back on its feet," said Dan Danner, president and CEO of the National Federation of Independent Business, which conducted the research. "Yet, instead of smoothing the way, our government continues to erect more barriers to growth through burdensome regulations that increase costs for small businesses and all Americans."
Many small business owners are also pessimistic about their businesses because of the state of the economy. Fifty-five percent of the surveyed business owners said they thought the economy was worse today than it was three years ago. Sixty-seven percent of business owners also said that there is too much economic uncertainty to expand, grow or hire new workers at this time.
"Manufacturers have told policymakers in Washington time and again that uncertainty and a negative business environment is turning the American dream into a nightmare," said Jay Timmons, president and CEO of the National Association of Manufacturers, who also conducted the research. "The findings of this survey show that manufacturers and other small businesses have a starkly negative outlook for their future — with good reason. There is far too much uncertainty, too many burdensome regulations and too few policymakers willing to put aside their egos and fulfill their responsibilities to the American people."
The research was based on the responses of 800 small business owners. The research was conducted by Public Opinion Strategies for the National Association of Manufacturers (NAM) and the National Federation of Independent Business (NFIB).