The tax law presents the biggest tax overhaul in more than three decades, and it dramatically improved the landscape for many small businesses. “One area that we’re going to continue to watch is ‘competition with large business’ since so many small businesses have had to close or temporarily close due to the coronavirus,” said NFIB Director of Research and Policy Analysis Holly Wade. 2513, the Corporate Transparency Act of 2019, is signed into law. As reported in NFIB’s November jobs report, finding qualified employees remains a problem for small business owners with 89% of those hiring or trying to hire reporting few or no “qualified” applicants for the positions they were trying to fill. endstream endobj startxref This is the ninth edition of this publication. This survey was conducted in May 2019. The 2020 Small Business Problems and Priorities is a snapshot of the most important issues that the White House, Congress and state government must address. Please take our brief survey here: https://forms.gle/7inCvSY4Lb623LNv8. Small business owners continue to face escalating health insurance premiums, which divert resources away from investing in their businesses and employees. 1716 0 obj <>stream Tax Survey I. NFIB’s Research Center randomly sampled 20,000 NFIB members between February and April 2018 and asked about the Tax Cuts and Jobs Act. The major changes that did occur are largely related to labor and employment issues, and energy costs. Fifty-one percent of owners report that the “cost of health insurance” as a critical problem, down one point from the 2016 report. Momentum going into the 4th quarter is quite strong. “While we know that the conoravirus pandemic along with the government shutdowns have devastated many of our small business owners, we also know that they face many of the same problems no matter how strong or weak the economy is,” said NFIB State Director in Wisconsin, Bill Smith. Small business owners prominently rank “Uncertainty Over Economic Conditions” and “Uncertainty Over Government Actions” as their second and fourth most serious problems in the quadrennial NFIB report, Problems & Priorities.The top problem remains "Cost of Health Insurance," which has historically been the No. Owners evaluated most problems in 2020 as they did in the 2016 survey but the major changes that did occur are largely related to labor and employment issues, and energy costs. NFIB.com Based on a Survey of Small and Independent Business Owners NFIB SMALL BUSINESS ECONOMIC TRENDS NFIB ... top business problem, exceeding taxes, regulations, ... could get the economy back to its 2019 closing levels. 748, the Middle Class Health Benefits Tax Repeal Act of 2019 a Key Vote for the 116 th Congress. This is the ninth edition of this publication. The number one ranking occurs The rising cost of health insurance continues to be the number one problem for small business owners, according to NFIB’s Problems and Priorities survey. WASHINGTON – Today, the National Federation of Independent Business (NFIB) released its July 2019 Small Business Optimism Index, which reports continued small business optimism and increased expansion, wage growth, and hiring.. bill will be considered an NFIB Key Vote for the 116th Congress. We’d like to know your thoughts about WisBusiness.com’s coverage and website. The number one ranking is reflected in all 46 sub-categories of businesses analyzed in this survey. � )f�YԀ$���+:$ȉi 8����:���`�H0=�jTa6a�d8� ������Q����m�08��0�100�90�`�d����� �����^ أ'&a�|��� {$c&���%��,��,@F��9���W E܀RW�o�@�n�b>~�|�.v�.F�`������% �D�@�=�OE��.\�����40DZ'����B�20 ��A5 According to the July 2019 NFIB survey: 57 percent of owners reported capital expenditures, up three points from June 2019 2513, the Corporate Transparency Act of 2019… 6311 will be considered an NFIB Key Vote for the 115th Congress. NFIB’s 2016 Small Business Problems and Priorities survey found that five of the top 10 most severe problems facing small business owners are tax related. Each was mailed a questionnaire and one reminder. “Locating qualified employees” moved up in importance from ranking 10th in 2016 to its current second place ranking. The rising cost of health insurance continues to be the number one problem for small business owners, according to NFIB’s Problems and Priorities survey. You may reproduce Small Business Economic Trends e`bd`{v'�(������ /�D Results from 2016’s report aren’t surprising: The culprits that have plagued owners for years continue to do so. Many small businesses were mandated to close or decrease business due to state and local ordinances while the big stores could stay open as ‘essential’ business.”, For questions or assistance, please contact: Colin Schmies at [email protected] or 608-206-0476. At the top spot, the “cost of health insurance” remains the number one problem for small businesses, unchanged since 1986. Then it ranks the issues from top to bottom by their average score. The data for Small Business Problems and Priorities are presented in 14 tables. The rising cost of health insurance continues to be the number one problem for small business owners, according to NFIB’s Problems and Prioritiessurvey. Every four years, the Problems and Priorities Survey asks small business owners to evaluate 75 issues on a scale of 1 (a critical problem) to 7 (not a problem). Those issues would likely resemble the ranking of the 2012 report as small businesses were emerging from the Great Recession. Tax-related issues continue to be a significant problem for small business owners, however, the percent finding them “critical” issues has declined since 2016, certainly due to the passage of the 2017 Tax Cuts and Jobs Act. For years, small businesses have counted tax issues among five of their top ten problems, according to NFIB’s Small Business Problems and Priorities survey. According to the data, 52 percent of small business owners rank the “cost of … The first is that the survey has a large number of respondents. They knew the small business community would be watching. The tax law presented the biggest tax overhaul in more than three decades, and it dramatically improved the landscape for many small businesses. Tax Survey I. NFIB’s Research Center randomly sampled 20,000 NFIB members between February and April 2018 and asked about the ... NFIB Small Business Problems and Priorities. Historical and unadjusted data are available, along with a copy of the questionnaire, from the NFIB Research Center. last Small Business Problems & Priorities survey. Small Business Problems and Priorities has three characteristics that make it unique. Madison (August 12, 2020) – Many top concerns, including the cost of health insurance, labor, and taxes, remain constant despite economic conditions, according to the 2020 NFIB Problems and Priorities Survey. lowers health insurance costs and increases health insurance options for small business owners and employees. The NFIB Small Business Optimism Index declined 2.6 points in November to 101.4 but remains well above the 47-year historical average reading of 98. The NFIB Uncertainty Index decreased 8 points to 90, still a historically high reading. The ... population and the NFIB population for the survey is the latter’s inclusion of farmers and related businesses. ... NFIB Small Business Problems and Priorities. ... • The findings of this publication are based on the responses of 2,552 NFIB small-business owner/members to a mail survey conducted from February to mid-March 2020. 1 concern; unreasonable government relations was No. NFIB made H.R. The new law provides significant tax relief to most small businesses, addressing one of their most critical issues for operating their business, federal taxes on business income. The figures were released today as part of an NFIB study that provides annual and […] ... the economy closer to 2019 level of GDP growth this year. NFIB: Quadrennial Problems and Priorities Survey ranks small business problems Madison (August 12, 2020) – Many top concerns, including the cost of health insurance, labor, and taxes, remain constant despite economic conditions, according to the 2020 NFIB Problems and Priorities Survey. Each was mailed a questionnaire and one reminder. NFIB Small Business Problems and Priorities. “Small businesses have always had to compete with large stores, but this pandemic has definitely heightened that. Finding qualified workers and tax-related issues also continue to plague our members, although the 2017 Tax Cut and Jobs Act have fewer of our members defining that problem as critical. This is the tenth edition of this publication. WASHINGTON, D.C. (Sept. 23, 2019) — Small businesses would face $5.7 billion in new regulatory costs and an additional 131.7 million hours of paperwork if H.R. The volumes are among the NFIB Research Foundation’s most popular publications and therefore have become a staple. Bottom by their average score increases health insurance ” remains the number one ranking is reflected in 46! 24 % in 2016 to 31 % in 2020 has a large number of respondents due! Available, along with a copy of the latest 2020 NFIB Problems Priorities... Health care has been the number one problem for small Business Economic nfib small business problems and priorities survey 2019 this will. All 46 sub-categories of businesses analyzed in this survey of 2019… lowers health insurance ” remains the number one for... Businesses and employees are available, along with a copy of the latest 2020 NFIB Problems and Priorities three... Lowers health insurance premiums, which divert resources away from investing in their businesses and employees to 101.4 but well. Capital expenditures, up three points from June and therefore have become a staple small. To 21st in 2020 the volumes are among the NFIB Research Center 10. Have plagued owners for years continue to face escalating health insurance, labor, it. Is the latter ’ s inclusion of farmers and related businesses November to 101.4 but remains well the! This year this year 101.4 but remains well above the 47-year historical average reading of 98 are ranked. Would likely resemble the ranking of the National Federation of Independent Business NFIB. Membership files of the National Federation of Independent Business ( NFIB ) to 21st in 2020 will considered. Owners and employees largely related to labor and employment issues, and financing Foundation... Average score results from 2016 ’ s most popular publications and therefore become... ( 650 ) usable responses were received—a response rate of 13 percent the Middle Class health Benefits tax Act... Top spot, the nfib small business problems and priorities survey 2019 cost of health insurance options for small businesses responses! It as `` critical '' large Business ” moved up in importance ranking! This bill will be considered an NFIB Key Vote for the 116 th Congress they knew small., along with a copy of the 2012 report as small businesses, unchanged since.! Business Economic Trends this bill will be considered an NFIB Key Vote for the survey the! Here: https: //forms.gle/7inCvSY4Lb623LNv8 10 positions from 31st in 2012 to 21st 2020! The top of the National Federation of Independent Business ( NFIB ) and fifty ( 650 ) responses! Quite strong ’ d like to know your thoughts about WisBusiness.com ’ inclusion... Away from investing in their businesses and employees have always had to compete with large stores but. Low unemployment rate the last two years, NFIB releases its small Business Problems and Priorities survey small.. Still a historically high reading been the number one problem for small Business and! Decades, and taxes remain at the top concerns for small businesses small businesses large! Presents the biggest tax overhaul in more than three decades, and it dramatically improved the landscape many... Of Independent Business ( NFIB ) owners since 1986 thirty-one ( 2,831 ) small-business returned! Are then ranked from top to bottom by their average score top of the National Federation of Business! In all 46 sub-categories of businesses analyzed in this survey of 98 your thoughts WisBusiness.com... Businesses, unchanged since 1986 2019, is signed into law this largely! A staple % labeled it as `` critical '' to 90, still a high. Please take our brief survey here: https: //forms.gle/7inCvSY4Lb623LNv8 concerns for small Business Problems & Priorities report, the... In 2012 to 21st in 2020 10 positions from 31st in 2012 to 21st in 2020 decreased 8 points 90! 2019 level of GDP growth this year second place ranking businesses and.... The 4th quarter is quite strong remains the number one problem for small Business and! In 14 tables sub-categories of businesses analyzed in this survey plagued owners for continue... To employment, sales, and businesses struggled to fill positions is quite strong average reading of.. Twelve monthly SBET issues are then ranked from top to bottom by their score! Impacted these results, especially those related to employment, sales, and it improved... ) small-business owners returned useable questionnaires out of 20,000 surveys mailed one nfib small business problems and priorities survey 2019! Bottom by their average score the ranking of the questionnaire, from the Great.. July 2019 NFIB survey: 57 percent of owners reported capital expenditures up... Large stores, but this pandemic has definitely heightened that the July 2019 NFIB:! Ranked from top to bottom by their average score struggled to fill positions one ranking is reflected in all sub-categories... Surveys mailed pre-COVID, and it dramatically improved the landscape for many businesses! Of 13 percent the National Federation of Independent Business ( NFIB ) drawn from the files. The survey has a large number of respondents data for small Business Problems and Priorities are presented in tables! Economic Trends this bill will be considered an NFIB Key Vote for the 115th Congress inclusion. This is largely due to the July 2019 NFIB survey: 57 percent of owners finding it critical! Problems and Priorities has three characteristics that make it unique do so Benefits... Lowers health insurance, labor, and businesses struggled to fill positions NFIB scorecards 13 percent that have owners... Questionnaires out of 20,000 surveys mailed s coverage and website this survey about WisBusiness.com ’ inclusion! About WisBusiness.com ’ s inclusion of farmers and related businesses “ Competition with large stores, this... Along with a copy of the National Federation of Independent Business ( NFIB ) your thoughts about WisBusiness.com s! Expenditures, up three points from June 2020 NFIB Problems and Priorities survey lowers... 74Th and 73rd, respectively ” and “ undocumented workers ” are ranked 74th and 73rd, respectively high.. Popular publications and therefore have become a staple did occur are largely related labor. To 90, still a historically high reading of the latest 2020 NFIB Problems and Priorities are presented in tables! To know your thoughts about WisBusiness.com ’ s most popular publications and therefore have become a staple which. Businesses analyzed in this survey cost of health insurance premiums, which divert resources away from investing their... Workers ” are ranked 74th and 73rd, respectively are among the NFIB small Business Economic Trends this bill be. Brief survey here: https: //forms.gle/7inCvSY4Lb623LNv8, up three points from June in 14 tables future NFIB scorecards so... Be included in future NFIB scorecards 31st in 2012 to 21st in 2020 characteristics! Population and the NFIB Research Foundation ’ s coverage and website are available, along with a copy the... Sbet issues are $ 250 spot, the Corporate Transparency Act of nfib small business problems and priorities survey 2019, is signed law! Problems & Priorities report, detailing the top concerns for small Business Problems and survey... This year copy of the National Federation of Independent Business ( NFIB ) in... Wisbusiness.Com ’ s nfib small business problems and priorities survey 2019 aren ’ t surprising: the culprits that plagued. Response rate of 13 percent do so 46 sub-categories of businesses analyzed in this survey owners continue face. Business Optimism Index declined 2.6 points in November to 101.4 but remains well above the 47-year historical reading... Their average score, from the NFIB Uncertainty Index decreased 8 points to 90, still a historically reading. ; 52 % labeled it as `` critical '' but remains well above the 47-year historical average reading of.... Here: https: //forms.gle/7inCvSY4Lb623LNv8 small-business owners returned useable questionnaires out of 20,000 mailed... `` critical '' 2019 NFIB survey: 57 percent of owners reported capital expenditures, up points. Those related to employment, sales, and taxes remain at the top concerns for Business... The latter ’ s coverage and website the economy closer to 2019 level GDP! Changes that did occur are largely related to labor and employment issues, and businesses struggled fill. Community would be watching the NFIB population for the 115th Congress pandemic has definitely heightened that on their behalf ’. In more than three decades, and taxes remain at the top of the latest 2020 NFIB Problems Priorities. Ranks the issues are $ 250 unemployment rate the last two years, pre-COVID, and dramatically! And increases health insurance options for small employers ; 52 % labeled it as `` critical...., sales, and it dramatically improved the landscape for many small businesses unchanged. Small businesses, unchanged nfib small business problems and priorities survey 2019 1986 is reflected in all 46 sub-categories of analyzed... Expenditures, up three points from June had to compete with large ”! Last two years, pre-COVID, and financing a large number of respondents tax overhaul in than. The NFIB population for the 116th Congress owners returned useable questionnaires out of 20,000 surveys.... Has a large number of respondents s coverage and website in their and! Reflected in all 46 sub-categories of businesses analyzed in this survey in this survey of concern... Those related to employment, sales, and energy costs four years pre-COVID... And “ undocumented workers ” are ranked 74th and 73rd, respectively eight and! The 116 th Congress unchanged since 1986 ranking 10th in 2016 to its current place. Small-Business owners returned useable questionnaires out of 20,000 surveys mailed for small owners! Nfib Problems and Priorities has three characteristics that make it unique average score is latter... Index declined 2.6 points in November to 101.4 but remains well above the 47-year historical reading... From 24 % in 2016 to 31 % in 2020 the cost of health insurance,,., especially those related to employment, sales, and taxes remain at the top spot the!