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What are small business owners most worried about?

The list of things that could be potential sources of worry for a small business owner is rather large. Which of these factors business owners are most concerned about often changes over time.

What are owners of small businesses here in the U.S. most worried about these days?

The results of a recent National Federation of Independent Business survey give some insight on this. In the survey, aimed at tracking small business optimism for November, small business owners were asked a variety of things about their business.

One such thing was what they felt was the most important problem they were facing. The most common answer given by business owners was government regulations and red tape, with 21 percent of the respondents answering this way. In a close second was taxes, an answer 20 percent of respondents gave.

Thus, government regulations currently appear to be a major source of concern for small businesses.

Why might small businesses worry about government regulations? One reason is that regulations can place some pretty substantial costs on businesses. There can be a variety of different expenses for a business in connection to staying in compliance with government regulations such as employment regulations, property regulations or business operation regulations. Also, the financial ramifications of being accused of being out of compliance with government regulations can be severe, as such accusations could expose a business to sanctions or potentially costly legal actions.

Skilled business lawyers understand the financial worries businesses can have in relation to regulatory issues and can provide small business owners with guidance on how best to stay in compliance with regulations that apply to them and what to do if they get into disputes with regulatory agencies over whether they are in compliance with such regulations.

Source: 24/7 Wall St., "November Small Business Optimism Sinks," Paul Ausick, Dec. 8, 2015

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