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Village Pourhouse Owner Michael Sinensky on the impact of government regulations on small-business growth and hiring.
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I have seen this poll is quite disturbing most small business owners say they wouldn't start a business today because new rules and regulations have become too expensive and just too much of a headache.
And their frustrations are borne out in the -- President Obama has created many more federal regulations in his first term in office -- his predecessors.
And in many places local regulations are keeping pace with the -- so how does a small business cope.
-- -- -- is a restaurant owner in Manhattan he also owns.
Two event planning companies and a lot of businesses in Jersey and he is -- battle reached his limit.
Of how many regulations he can tolerate going to see again we see each other a couple of years violent -- years and you have in those two years you've opened some businesses in Jersey.
But not in New York.
Why.
Well it's been.
I miss you little bit but some good I'm back good to have -- in the two years I I've literally employ zero people in New York -- opened up easier new bars restaurants in New York.
And I'm in Jersey we've invested in five new places -- if this.
Simply the regulations are not as strict there whether it's spread of hours whether it's looming regulations are talking about -- New York.
Lower yeah.
Cash minimum wage for certain employees just it's a much easier violent towards her that you closed down any your New York operations you still have the place in the villages that are but -- -- You are not beginning new projects here particularly because of the regulations correctly.
We are -- any plans to open up here because of the regulations that we don't understand what's going on like -- for example.
The number one as obamacare.
We simply don't understand that and when we ask consultants the cost money your lawyers that cost money.
You get different answers from different people because no one understands it's going.
And because of that.
I'm not going to grow on the -- -- that -- employee for example because that's a 100000 dollar penalty.
We should mention that if you have less than fifty employees you don't have to do as much as if you have more than -- because they say they don't -- hurt small businesses.
But that prevents people from hiring more than fifty people -- -- they simply come up these numbers they think fifty means.
Your big business -- I think you can withstand any new initiatives that they have.
But it's not based on number -- -- it's based on your bottom line to profit.
Now you saw that poll that we showed 55% of small business owners like yourself say they wouldn't start a business today if -- -- what they were getting into with all the new regs and everything.
What about you.
And its risk vs ward and right now the tables have turned where it's just.
Simply not worth the rewards anymore it's not worth their awards to hire so many people and deal with the headaches that come with that.
From Obama care to the Labor Department to the audits that are happening that sales tax apartment to the numerous.
-- finds you get from inspectors coming in it's just.
The headaches and -- now President Obama says he is about looking out for the small -- for small business owners like you -- you say you're actually insulted.
By President Obama -- what way insulted.
I mean the whole you didn't build -- thing -- policy because we're here.
We're not taking money when payroll comes to -- employee sometimes we're going out of pocket.
We're not getting the help we need from government in fact I don't want -- help from government I just want -- to leave me alone.
And it's insulting when.
You're doing all -- -- not sleeping and I try to provide for your family and someone comes up and says I'm pro small business but you can build your business.
And it's insulting amongst numerous of thanks Michael -- -- the best of luck congratulations on the New Jersey operations thank you so we're voting with the efficacy of the.
