A couple of weeks ago President Trump signed an executive order with the intent to cut regulations "massively" for small businesses. White House officials say that in the future if a government agency wants to add a new regulation they must identify two to take out. They're calling it the "one in, two out plan." For those that might be concerned about the reduction in federal regulations, you should not worry. At last check, the Federal Registry, where all federal rules are published, has grown to over 80,000 pages. It's no wonder small businesses, the lifeblood of our economy, are struggling. In a recent National Small Business Association survey, an average small business owner is paying around $12,000 every year just to deal with regulations. It's significantly more for a start-up business. In 2013 Alabama small businesses employed 761,520 individuals according to a report published by the U.S. Small Business Administration; almost half the private workforce. While I don't have a crystal ball, I would expect even more jobs would be created if the rules that are currently stifling to a business owner were less costly and onerous. While not everything out of the Trump administration will be looked upon favorably, we're optimistic that the recent steps taken to reduce regulations could prove to be a positive for businesses here in Alabama and abroad.
I'm Dave Thomason, that's my take, what's yours?
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