CFO

The Burden of Government Regulation

Today’s post is by Randy Russon, founder of TOPCFOS

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One of the challenges of any business is doing business in a country where there’s either too many government regulations or too many taxes. Wise government leaders should learn to strike a balance in this area. When it comes to government regulations the ideal is when industry finds a way to regulate itself without government regulations or interference. However, when industry does not regulate itself the only other solution is for government to step in with regulations. On the issue of too many taxes, government leaders should seek to understand what affect the burden taxation poses to business. The goal should be to limit taxation to a point that allows companies to flourish.

In his article about the U.S. government entitled, The Crushing Burden of Government Regulation” Gregory Conko says this, “Regulatory reform no longer seems to be a White House priority — if it ever really was. Fortunately, there is a growing recognition among legislators from both parties that overregulation stifles the economy, suppresses job growth, and inhibits innovation. Across the political spectrum, it’s become clear how important it is to rein in the regulatory Leviathan.” Further, in this article coming from Great Britain entitled, “Reform” we learn this,

“The instruction from the Prime Minister, David Cameron, to his Ministerial team could not have been clearer:

“Today, there are over 21,000 statutory rules and regulations in force, and I want us to bring that number – and the burden it represents – down. Indeed, I want us to be the first government in modern history to leave office having reduced the overall burden of regulation, rather than increasing it.”

Too many taxes and too many regulations are what kills the golden goose that laid the golden egg for business. Anyone in business knows of the tremendous challenge it is just to simply succeed in business. Most entrepreneurs’ never even make it out of the chute, let alone establish a business that becomes an ongoing concern. Then, once you have achieved that envious goal of succeeding in business, the last thing you want to face are over-burdensome government regulations and taxes. Ideally, government regulation and taxation should be minimal.

We hope you’ve enjoyed our Blog today. Please remember, TOP CFOS offers the finest CFO services to companies anywhere in the world and would love to be a part of your team. Feel free to reach out to us anytime. Your feedback is most welcome, and we invite you to share this post with friends and associates. During the month of September, we are offering a free service to our readers. We are offering one free hour of consultation, all at no charge. Our contact information can easily be found here on our website, so give us a call today! Our next post will come from the Finance category on our website and is entitled Why Budget? And, thank you for joining us!