The Regulatory Burden on American Businesses
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In the face of such severe economic uncertainty, small businesses are reluctant to hire new employees. According to Clarence Otis Jr., CEO of Darden Restaurants, policy and regulatory requirements are making it increasingly difficult for businesses in the restaurant industry to see “why and where creating new jobs makes sense.” Without sincere regulatory reform, job creation in America is likely to remain stagnent. An article written by Clarence Otis Jr. from CNN Opinion elaborates:
The difficult reality is that neither our shareholders nor our customers -- who are of course, the very working people policymakers champion -- can afford the cost of the unbridled increase in regulation we're experiencing. Policymakers and pundits bemoan the economic news of the day and chastise the business community for not "investing" or creating jobs to help lead us out of the recession. But through the lens of a business owner, a regulatory "perfect storm" is forming that causes even the most well-intentioned business leaders to pause.
Continue reading Otis Jr.’s piece here.