Local businesses complain about too many regulations coming out - 21 News Now, More Local News for Youngstown, Ohio -

Local businesses complain about too many regulations coming out of Washington

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YOUNGSTOWN, Ohio - Several small businesses in the Valley are speaking out against what they call a "tidal wave of proposed regulations" coming out of Washington.

They say that the regulations will ultimately hurt economic growth.

There are currently 4,200 pending regulations coming out of Washington, more than 800 would directly impact small businesses in Ohio.

In order for those business owners to implement the changes, The National Federation of Independent Business estimates they will spend 360 percent more than a larger business simply because it takes more effort.

"You don't necessarily have a compliance department that deals with these things. So when a new regulation comes around that affects you, you have to understand how that's impacting you and that takes time, resources, energy to do that," said Jacob Larger with The National Federation of Independent Business.

Expressing their frustration, local business owners met at City Machine Technologies, Inc. The Youngstown business, that repairs machinery, is just one of several that feel burdened by the increased regulations.

The company's vice president says the impact is not only direct, but indirect. Because of regulations placed on some of their major customers, they say their own business has in turn become much more uncertain.

"When you keep increasing all these prices, our sales aren't increasing with the cost of regulations that we need to implement and health care and all the taxes, so we're just looking for a brake somewhere and a helping hand, " said Claudia Kovach with City Machine Technologies, Inc.

One solution proposed is already taking place here in Ohio.

Last year, the lieutenant governor's office passed a common sense initiative requiring each regulation to undergo a cost benefit analysis.

"They have to say okay, it's going to cost us "X" amount of dollars for "Y" amount of benefit. Is that really something we want to place on the business community in order to produce that benefit?" said Larger said.

A coalition has been launched to help ensure government regulations don't cost American jobs or slow the economic recovery. To date, more than 1,000 businesses have joined.

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