A new poll by Gallup shows that 85% of small business owners surveyed are not hiring. Of those individuals, most cite the following reasons: do not need additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy.
Among small businesses who are not hiring…
- 46% (nearly half) blame new government regulations.
- 48% (nearly half) blame health care costs.
- 66% are worried about the overall economy.
- 24% (1 in 4) are worried that they may no longer be in business in 12 months.
According to the latest Chamber of Commerce quarterly Small Business Outlook Survey, 78% of small businesses surveyed report the taxation, regulation, and legislation from Washington make it harder for their business to hire more employees.
It is no surprise that the National Federation of Independent Business' (NFIB) monthly optimism index released yesterday signaled that small business confidence remains at recession levels.
Government was not designed to be the center of the marketplace, nor was it meant to be a barrier to economic growth. With each new overreach of the federal government into the realm of small business, the more it continues to stifle innovation and entrepreneurship in America.
As leaders in Washington, we need to be sending a different message to small business owners; one that shows government is not a barrier to business growth. Read about my recent work to enable small businesses to grow, innovate, and create jobs here.