I was thrilled to learn that IBN member Candy Sweeney of Nakee Natural procured a $10,000 loan resulting from the recently signed Small Business Jobs Act. But as I've said before, it's not solely lack of financial resources that prevent INDIEs from owning profitable ventures. It's also unnecessary federal, state, and local government red tape. This video, by the Institute For Justice, illustrates the point.
Money is a necessary part of running a business. One can never really have enough of it. But even if you have money, and even if you manage it well, you can still be strangled by red tape. This is especially so when the products or services you offer are regulated by more than one agency — which is almost always the case.
In the coming months, I look forward to working with state and federal officials to ensure that their oversight is carefully tailored and coordinated so that small and independent businesses don't suffer from regulatory duplication that inhibits their ability to introduce new products to a waiting market place.
Question: What governmental red tape do you face in your neck of the woods?