February 12, 2021
Government regulation is not the answer.
Formula business restrictions have once again become a hot topic in the Lowcountry. A formula business is defined as an entity with a set number of, often 5-10 or more, outlets anywhere in the world that adopt standardized services, methods of operation, décor, uniforms, architecture, logo, trademark or other identical features.
The answer to creating more small and locally owned businesses is not more government regulation and red tape. Many of the communities considering formula business restrictions are already struggling to fill buildings and store fronts. Restricting what businesses can occupy the vacant buildings will only further the problem.
We believe the government should not dictate which businesses are winners and losers. Placing restrictions on formula businesses will hurt locally owned small businesses’ opportunities for expansion. As a Chamber, we represent a combination of formula and locally owned small businesses. It is the right of communities to have a full range of access to all types of businesses.
If the true goal is to support locally owned businesses, there is a better way. The Chamber supports a free-market economy and believes that consumers, through their spending choices – not governments through regulations, should determine which businesses thrive. We do not support government regulation of formula businesses.
Government Relations Coordinator