Chamber of Commerce Survey: Regulations Inhibit Small Business Growth

Despite a slew of recent headlines hinting at improvements in the U.S. economy, small business owners seem unable to shake an overall gloomy outlook. According to the most recent Small Business Outlook Survey by the U.S. Chamber of Commerce, as much as 85 percent of small firms believe the country is on the wrong track.

In general, most respondents cite the economy as the top issue facing the country. A similar number are unsure whether better days are ahead, and most worry about the mounting regulatory environment.

In fact, more than three-quarters of respondents - 78 percent - agree that excessive taxation, regulation and legislation make it more difficult for businesses to hire employees. Nearly as many agree that healthcare reform further inhibits hiring prospects.

"Small businesses see Washington as a threat, not just because of the legislative items that have come out of Washington over the last several years, but increasingly also the regulatory threats," said Rob Engstrom, the  Chamber of Commerce's national political director. "The uncertainty that comes from the regulatory arm, it really makes it hard for small business members to plan."