Regulations Raising Cost of Doing Business
Small company owners told the House Small Business Subcommittee on Contracting and Workforce last week that federal regulations are raising costs and creating more work for them and other owners.
The subcommittee, meeting in Rock Hill, S.C. on Thursday, heard testimony from local business owners about the impact of federal regulations on their companies. Rock Hill is located in the district of Mick Mulvaney, R-S.C., the subcommittee chairman.
Regulations that are part of the health care overhaul will increase the cost of health benefits between 100 percent and 150 percent at Carolina Ingredients, said Doug Meyer-Cuno, president of the company, which manufactures seasonings and other food products.
"That means our annual health care cost of $125,000 will eventually range between $200,000 and $300,000," he said. Carolina has 51 employees.
Another witness talked about the many regulations involved in getting contracts with the government.
"The process for a company to go through to do business with the government is complicated and they simply do not know where to go to find out what is necessary," said Charles O'Cain, owner of Owl Business Consulting.
"There is no one place a small business can go to find out what they have to do," he said.