Over the course of my entrepreneurial career, I’ve founded a variety of companies, all of which had their own obstacles. But I’ve found there is one obstacle that seems to get in the way more often than others﹘ big government.
As a conservative entrepreneur, I believe in small government for many reasons. Here are the pillars of my argument.
- The Cost of Regulation. While I’ll be the first to admit that government regulations are absolutely necessary at times (food, pharmaceuticals, etc.), over-regulation of the industry gets in the way of growth. New regulations and requirements implemented by our governing body require strict compliance and proper documentation.
As a business owner, I have to dedicate manpower to meeting regulatory requirements. This costs the business money in the form of time and wages dedicated to making sure we are following all rules and procedures. New regulations almost always cost a business money, while they rarely have a positive effect on overall revenue.
- One Size Doesn’t Fit All. When big government tries to enstate regulations, they tend to put a wide variety of businesses under the same umbrella. Similar rigorous and expensive procedures are put on large corporations and small, local businesses. This causes small businesses to suffer.
As I said before, the more a government interferes in business, the more cost is put onto the businesses themselves. For small businesses who are just starting out or struggling to grow, this can be detrimental, possibly even causing the company to go under.
- The More We Make… Another way big government takes away from a business’s bottom line is through taxes. The more you make, the more they take. The higher the amount of taxes paid by a business, the less money there is to put back into the business to promote growth.
Trending: How to Cultivate A Lasting Family Legacy
How are these taxes, in turn, helping small businesses? In my opinion, they’re not doing much. The government uses this revenue at their discretion with hardly any input from the business owners. This system ultimately puts a damper on businesses’ incentive to grow and expand. Money paid in taxes could be used to hire new employees, which stimulates the economy.
- The Fight for Freedom. America was built on the idea of freedom, and that includes the free market. The size of government envisioned by our founding fathers was meant to empower small businessmen and entrepreneurs, not hinder them. Lower taxes and fewer regulations give companies the freedom to prosper, which is one of the fundamental principles on which our great nation was built.
By keeping the government small, we are promoting and preserving the freedom of both citizens and the economy. The financial burden of big government stifles economic growth and leaves small businesses in the lurch. While major corporations may be able to handle the costs of taxation and regulation, the small businessman is left to fight for his life. Small government is vital to the success of the small businesses and entrepreneurs of today and future generations.