Small Business Woes: Dan Danner on Fox News

Date: May 19, 2015

Dan Danner writes about the challenges facing many small businesses—plus some of the joys.

Small business owners are often putting out fires right as new ones spark up, and many of those challenges are coming from outside the business at the federal level. NFIB President and CEO Dan Danner wrote about some of those obstacles in a recent op-ed for Fox News, including the most recent hurdle regarding the proposed regulations in the Clean Water Act.

As Danner writes, obstacles inhibiting small businesses include: 

– Tax code: NFIB Research estimates that tax paperwork costs small businesses $74 an hour, and the costs of complying are 67 percent higher than the average cost for big businesses. It’s a huge time-suck, too: Small businesses spend nearly 2 billion hours annually trying to comply with the codes. 

– Tax cuts: There’s often talk about cuts to the corporate income tax rate. But as Danner points out in the op-ed, lowering the corporate rate would exclude some three quarters of small businesses that file as individuals. As he says in the op-ed, “Cutting small business income tax rates would free up capital, stimulate demand and strongly encourage job creation.” 

– Healthcare: Dan Danner said it might be the most worrisome of all the small business barriers. In a recent NFIB survey, 62 percent of small businesses said their per employee premium costs were higher in mid-2014 than the year before. 

Even with all these challenges, there’s a lot that small business owners have to hold on to. “There is incredible fulfillment in watching something that you started grow and thrive,” Danner says in the op-ed. “As long as this country lets individuals profit from their creativity and industry, there will be people who sacrifice to make their dreams come true. We are all better off because of them.”

Visit Fox News to see more of Danner’s op-ed.

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