The Effect Of Regulations On Small Businesses

Small Business Regulations Abeoseh Flemister

Topic: The Effect of Over-regulating Small Businesses

Thesis: Over-regulating harms small business growth by making it increasingly expensive to maintain compliance, limiting the ability of employers to use their discretion when selecting employees, as well as limiting international markets.

Topic Cont.

● Regulations are in place to keep consumer and employees safe ○

Regulations that are too far reaching can end up harming the businesses while providing inadequate protection

Why I Choose This Topic ● I know many people in my community who own own small businesses ● I want to open a private practice once I become a MD and need to know the process to start a successful one ● 50% of small businesses fail within the first five years

Service Learning ●

●

●

●

I spent January volunteering at a Daycare Center called “Pencils Games and Highfives” There I learnt cost effective measures real small businesses dealt with industry specific regulations I also learnt how employees and customers strive to maintain regulatory compliance Asking questions and helping gave me a better understanding of how small businesses operate

Product

My product was an information table that educated the student population of CPCC about how to start small businesses

Product: Lessons ● ● ●

Most people are willing to learn about the steps to open a business even if they do not have plans to open one in the near future Those who do have plans to open businesses have already done more than the necessary research CPCC provides a plethora of free resources to help small business owners succeed

Survey Response

My Small Business Information Table

Next Steps

● Get a degree in pharmaceutical sciences or chemistry ● Get my MD and start a private practice

Citation Staff, Investopedia. "Top 6 Reasons New Businesses Fail." Investopedia. 09 July 2018. Investopedia. 20 Mar. 2019 . “Is Dodd-Frank Killing Community Banks? The More Important Question Is How to Save Them.” Public Banking Institute, www.publicbankinginstitute.org/is_dodd_frank_killing_community_banks_the_mo re_important_question_is_how_to_save_them. Accessed 22 Mar. 2019.