The founder of the Subway restaurant chain said he couldn't start the company today because there are too many government regulations.
"I tell you, if I started Subway today, Subway would not exist because I had an easy time of it in the 1960s when I started and I just see a continuous increase in regulation," Fred Deluca told CNBC.
He said the entrepreneurial climate has continuously gotten worse because of the growing list regulations.
"It's tougher for people to get into business, especially a small business," he said.
Deluca specifically had harsh words for Obamacare, saying it's "the biggest concern of our franchises."
"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."