Subway Founder: Today’s Regulations Would Have Stopped Me
Newsmax – Fred DeLuca, the founder of Subway Restaurants, said on Wednesday that government regulations would have easily prevented his company from starting up in today’s marketplace.
“If I started Subway today, Subway would not exist,” DeLuca told CNBC.
The market for U.S. entrepreneurs has “continuously gotten worse because there are more and more regulations,” he said. “It’s tough for people to get into business, especially a small business.”
DeLuca cited Obamacare, payroll taxes and minimum wages as examples of a restrictive American business climate.
Obamacare, or the Affordable Care Act, is “the biggest concern of our franchisees. They don’t know what to expect,” DeLuca said. “It’s causing a lot of concern, but that too will be passed on to the consumer.”