“Excessive regulation is having a crippling effect on job growth among small businesses, as our latest small-business survey makes clear,” said Rob Engstrom, the Chamber’s senior vice president. “In fact, the only thing that scares small businesses more than the current business climate is what Washington bureaucrats will do next.”
The survey found that 30 percent of businesses were not ready to comply with the new rules. Roughly 25 percent reported not knowing what they had to do to follow the law.
Seventy-one percent of the more than 1,300 small-business executives polled said they would be less likely to hire employees because of the healthcare law, according to the survey.
Twenty-four percent said they plan to reduce hiring to stay beneath the 50-employee threshold that would trigger a requirement to provide insurance for their workers or pay a penalty.
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