The American small business advocacy group National Federation of Independent Business has polled its huge base of member firms on economic matters for nearly half a century.
NFIB Chief Economist William Dunkelberg notes that small business principals across the country have consistently pointed over that lengthy span of time to government regulatory controls and taxes as chief concerns commanding their attention. A common complaint spotlights the close nexus between bureaucratic red tape and tax exactions and reduced business productivity.
The two go hand in hand for commercial entrepreneurs and established company players. They stress that opportunity and profitability are curtailed when the government leans heavily. Conversely, business health improves across virtually every realm of measurement when regulators back off.
Dunkelberg says that business sentiment across the country is now strongly positive. He contends that is the case precisely because government regulators have curtailed their economic exactions and introduced some badly needed breathing room into the economic sphere.
Dunkelberg points most notably to recent tax-slashing measures and pro-business allowances that he says have had salutary effects on businesses all across the country. NFIB survey results indicate that taxes and regulatory straitjacketing have been supplanted as leading concerns by managers’ new focus upon securing qualified labor for their expanding businesses.
Dunkelberg’s thinking – which is endorsed broadly across the American business community in Ohio and other states – stresses that a curtailment in business-focused regulatory actions fuels company growth, new investment and job creation.
His bottom-line advice might be aptly paraphrased as this: Let business do business.