Subway sandwich shop founder Fred Deluca said the current regulatory climate is killing America’s small businesses, and “Obamacare” is one of the biggest offenders.
“If I started Subway today, Subway would not exist,” he said on CNBC.
The government is keeping entrepreneurs from flourishing, he said. Harsh regulations, combined with the end of the payroll tax holiday, have left small-business owners as well as would-be business owners in a state of uncertainty and at an economic disadvantage to compete, Mr. Deluca added, according to the report. And one of the biggest obstacles to business development?
Obamacare, he said.
In the end, the buyer will pay for this regulatory climate, he said.
“They don’t know what to expect,” he said. It’s causing a lot of concern, but that, too, will be passed on to the consumer.”
Mr. Deluca also pointed to the potential for the minimum wage to increase as yet one more uncertainty that was foiling business growth.