National findings: Small businesses "stifled," how does MB stack up?

National findings: Small businesses "stifled," how does MB stack up?

MYRTLE BEACH, SC (WMBF) - A new survey from the U.S. Chamber Foundation says government regulations are stifling small business growth.

The findings of a research study posted in a release from the Myrtle Beach Area Chamber of Commerce outlined that nearly one in three chamber executives across the country said they wouldn't actively encourage new business to open or relocate to their region.

But, how does that statistic match up here in Myrtle Beach?

According to the MBACC website, 90 percent of chamber members are small businesses with less than 50 employees.

There is also a dedicated small business resource center and a website designed to guide small business owners as regulations change.

The U.S. Chamber Foundation's research project outlined the most challenging regulations for small businesses; the top two are environmental protections, as well as labor and hiring regulations.

But it is necessary to impose regulations to protect both the environment and the labor force.

To keep up with evolving times, Brad Dean, president of the MBACC, said in a statement it is crucial for small businesses to adapt.

"Just a few months ago, a USA Today poll stated that in today's economic environment it's never been easier to start a small business," Dean said. "Maintaining a small business seems to be where the challenge lies. In this environment of increased competition and expanded federal regulations, fostering a pro-business environment requires an ongoing effort between the public and private sector. Successful small businesses must adapt, innovate and continuously improve all aspects of their operations and marketing to thrive in today's economy."

The chamber will present the findings of the research project in October, and area businesses are invited to hear. All the info can be found here.

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