SmartBrief conducted a survey to find out what stresses entrepreneurs most these days. Here is what entrepreneurs told SmartBrief causes them the most stress:
Complying with government regulations 28.76%
Staying ahead of the competition 20.80%
Managing employees/contractors 19.47%
Making payroll 15.49%
Dealing with customer issues 15.49%
Here is their take on these findings:
Employees, customers and payroll worries may keep you up at night, but they
lagged far behind the biggest stress factor of all: government regulations. Even
the competition (which, theoretically, is trying to put you out of business),
causes less stress than the government (which, theoretically, is trying to help
your business). In other words, government loans and educational programs may be
nice, but if Washington really wants to encourage entrepreneurial risk-taking,
it needs to get out of the way so you can get a decent night’s sleep.
The results are quite revealing, especially given the study I cited
earlier this week that shows the real state of regulation in the U.S.
I wish we’d follow Europe’s lead when it comes to business regulation (rather than socialized healthcare) — they are slashing small business regulations to help spur new business formation all over the continent.
Interesting analysis. It’s such a shame that the government would have to add so much more hindrance to the daily challenges of Entrepreneurs when the American economy is built on the backs of entrepreneurs and are the moving pulse of the Economy.
Thanks so much for substantiating my own thoughts on government regulation. It has gone too far and is always on the backs of the small business owner.
(2) is my main worries most of the time. I guess it depends on where you are from. I am from Singapore which highly encourage entrepreneurship. (1) has never even crossed my mind.