The latest small business figures released by the Census Bureau are an encouraging sign for the economy. As President Biden mentioned in his State of the Union Address, the record-setting 10.5 million new small business applications filed over the past two years suggest American entrepreneurship is roaring despite economic uncertainty.
This growth is exciting, but it’s not guaranteed to last, and a variety of headwinds are still slowing it. Some of the strongest–and least recognized–are the bureaucratic barriers to starting a business quickly.
