Small business owners are drowning in a sea of federal paperwork from agencies such as the International Revenue Service, the Department of Transportation, the Department of Labor, the Environmental Protection Agency, the Department of Agriculture and the list goes on. Dealing with the overwhelming requirements of the federal government and the accompanying paperwork represents one of the greatest challenges in business today. Because of their size, government paperwork hits small business particularly hard.
Small business is the engine of economic growth, job creation and innovation in our country.
Excessive efforts spent on regulatory compliance takes valuable resources away from these contributors to our economy. The United States House of Representatives recently passed a bill to streamline federal paperwork regulations for working Americans. This legislation aims to reduce government red tape by taking steps to lessen the paperwork burden for small businesses without compromising safety and health protections. The bill also requires federal agencies to create a single point of contact for small businesses that need answers and guidance when filling out federal paperwork. These may seem like small items, but they will be a tremendous help in making the process faster and more efficient for business owners.