A perfect storm of more regulations, higher taxes, union favors, and heavy-handed liberal economic policies are hurting small businesses like never before.
WASHINGTON, D.C. — Small business owners have significant concerns about the nation’s economic situation and are unconvinced that this administration’s efforts will have positive effects, according to a new poll released a day ahead of the U.S. Chamber’s Jobs for America: Summit 2010.
The independent poll conducted by the Lombardo Consulting Group and commissioned by the Chamber found that eight out of 10 small business owners say that they are either “very” or “somewhat concerned” about the growth in the size and power of the U.S. federal government over the past few years (nearly half — 45% — are “very concerned” about it).
Across the board, small business owners feel that this administration’s policies are not having a positive effect on the country’s economic situation. Almost half (46%) think that this administration’s policies are making the economy worse, while 22% feel that they are having no real effect. Just 30% believe that this administration’s policies are making the economy better.
Other key findings:
• Ineffective administration policies — 44% of small business owners think that this administration’s policies will result in fewer jobs in the U.S., compared with 30% who believe that they will result in more jobs (19% believe that this administration’s policies will have no effect on the U.S. job situation). Nearly six in ten (57%) small business owners feel that this administration does not have a clear plan for creating jobs.
• Increasing size of the government — 68% of small business owners agree that this administration’s new rules and regulations are expanding the size of government “far too much, resulting in a weaker U.S. economy and fewer jobs.”
• Threats to job creation — 25% of small business owners think that “higher taxes” will be the primary threat to job creation, 23% think that “chronically high budget deficits” will be the principal issue over the next two years, and 22% feel that “expansion of the government’s role in the economy” will be the primary threat to job creation.
• Soaring budget deficits — 55% of all small business owners are “very concerned” that chronically high budget deficits will hurt job creation. An additional 35% are “somewhat concerned” about the issue. Almost half — 45% — of small business owners think that the federal government should improve the U.S. economy by spending less money and focusing on reducing the deficit.
U.S. CHAMBER OF COMMERCE WEB SITE
Source: Free Enterprise newsletter, U.S. Chamber Of Commerce