Issue Position: Growing Small Business

Issue Position

Small businesses are the backbone of Northern Michigan's economy and it is imperative that we promote pro-growth policies, particularly during our weakened economy.

As the backbone of our economy, small businesses are key to its survival. These ventures employ millions of Americans and Michiganders, and represent the fact that hard work and perseverance allows the American dream to become a reality. -Dr. Benishek

Small businesses are under threat from excessive government regulation and an unrealistic tax structure. An often-cited study conducted by the Small Business Administration states that in 2008, regulations cost $1.75 trillion to the economy, or $15, 586 per household.1 Unlike larger firms, small businesses typically do not have the resources to hire lawyers and compliance personnel to wade through mountains of federal regulations. Consequently, small businesses often bear a greater per-employee cost of regulations due to their smaller size. Regulatory uncertainty from Washington is also affecting small businesses with respect to their purchasing plans for the future.

Dr. Benishek believes that small businesses are an integral part of Northern Michigan and in turn, the entire country. He is supportive of efforts that will help decrease burdensome regulations on small businesses and policies that will grant small business owners the ability to reinvest profits to expand and create jobs. In addition, Dr. Benishek is supportive of efforts to lower tax rates on businesses and simplify the tax code, which he believes will create opportunities for businesses to invest, expand and become more competitive.

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