Oct 25, 2011 1:48 PM GMT
Not surprised. The problem in particular is the additional regulations being placed that also reduces the incentives to start new businesses or for existing businesses to compete in new markets. Research shows that jobs get created primarily by new businesses.
PRINCETON, NJ -- Small-business owners in the United States are most likely to say complying with government regulations (22%) is the most important problem facing them today, followed by consumer confidence in the economy (15%) and lack of consumer demand (12%).
Rounding out small-business owners' top five problems in the Oct. 3-6 Wells Fargo/Gallup Small Business Index poll is lack of credit at 10% and poor leadership by government and the president at 9%.
Looking ahead to 2012, approximately one in three small-business owners say they are very or moderately worried about going out of business. About the same number are worried about not being able to compete with large or global competitors, not being able to hire the number of employees they need, and not being able to pay their employees. Thirty percent worry they will have to reduce their number of employees.