Bay State News

The National Federation of Independent Business (NFIB) has published the 11th edition of its quadrennial report, "Small Business Problems and Priorities." This comprehensive survey, conducted by the NFIB Research Center, examines 75 issues affecting small businesses across the United States. The latest findings reveal significant concerns among Massachusetts small business owners regarding inflation, taxes, and economic uncertainty.

Christopher Carlozzi, NFIB Massachusetts State Director, stated: “This survey is a great representation of how Massachusetts small business owners feel: inflation and other rising costs are causing concern for the future of their businesses.” He emphasized that health care costs, excessive taxes, and energy expenses remain top issues. Additionally, new challenges such as credit card swipe fees have emerged as significant concerns for local businesses.

Holly Wade, Executive Director of the NFIB Research Center, commented on the broader impact: “For the last four years, small business owners have struggled with historic inflation, tax pressures at all levels of government, and uncertainty of what’s going to happen next.” She highlighted that nearly half of the private sector workforce is employed by small businesses and stressed the importance for lawmakers to focus on strengthening Main Street.

Key findings from the report include persistent cost pressures. Health insurance remains a chronic issue since 1986. The cost of supplies has risen in importance due to recent inflationary trends. Fuel costs are also cited as critical by many business owners.

Tax-related issues continue to be prominent among small business concerns. Federal taxes on business income rank high on their list despite benefits from previous tax cuts. There is worry about potential increases if certain deductions expire in 2025.

Uncertainty over economic conditions and government actions has become more pressing since 2020. These uncertainties now rank among the top five problems faced by small businesses.

The publication aims to inform state and federal lawmakers about priority areas for pro-small business legislation based on responses from nearly 2,900 NFIB members who participated in a mail survey earlier this year.

For more than eight decades, NFIB has advocated for America's small businesses at both state and national levels as a nonprofit organization dedicated exclusively to supporting independent enterprises.