The 2016 Problems and Priorities survey revealed that small business owners listed the cost of health insurance, government regulations, and high federal taxes as their top three concerns. SMALL BUSINESS. 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. The problem that jumped most from 2012 to 2016 was owners ability to find qualified workers. This year’s data was collected just prior to the Covid-19 health and economic crisis. Below is a more in-depth look at NFIB’s positions on each of the issues: The cost of health insurance has been the number one most severe issue plaguing the growth of small business for the past 30 years with no relief in sight. All Rights Reserved. Five percent acquired new buildings or land for expansion (up 1 point), and 12 percent spent money for new fixtures and furniture (up 4 points ). European Master & Multi-Unit Franchising Conference, Franchise Leadership & Development Conference, Franchise Marketing Leadership Conference, 2021 Will Be "Road To Recovery" For Foodservice Industry Say Reports, Small Business Owners Feel The Worst May Still Be To Come, Delivery and Take-out Focused Stoner's Pizza Joint Takes Off, Poll Finds Nearly Half of Small Businesses Could Fail, 5 Data-Driven Advertising Trends Covid-19 Is Accelerating. In fact, health insurance costs for small firms have increased about 30 percent over the last decade, outpacing wages and inflation. “Unreasonable Government Regulations” climbed the ranking latter in the most recent Problems and Priorities survey, moving from the fifth most severe issue in 2012 to its current second place position. A sample of 5,000 small- business owners/members was drawn. This survey was conducted in November 2020. NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide. P.O. “Many Americans are frustrated by the federal government’s failure to solve problems. Tax related issues are a major concern for small business owners. NFIB last fall released a study on the costs of health insurance. Learn more. (5/13/20), Small Business and COVID-19: PPP Loan Forgiveness Explained and Other Questions Answered (5/20), NFIB Guide to New Federal Lending Options, Small Business Financial Resources During Coronavirus, How Small Business Can Prepare for Coronavirus. Small business owners are frustrated by the problems that the federal government creates,” said NFIB President and CEO Juanita Duggan. The cost of health insurance, labor, and taxes remain at the top of the latest 2020 NFIB Problems and Priorities Survey. The NFIB Research Center has published a series of Covid-19 related surveys assessing the impact of the health crisis on small business operations, economic conditions, and utilization of the targeted small business loan programs. NFIB.com Based on a Survey of Small and Independent Business Owners NFIB SMALL BUSINESS ECONOMIC TRENDS NFIB SMALL BUSINESS ECONOMIC TRENDS William C. Dunkelberg Holly Wade June 2020 SMALL BUSINESS OPTIMISM INDEX COMPONENTS. Franchising.com is produced by Franchise Update Media. Here are the top “Critical” problems and priorities from the most recent survey. Legal Notices | Privacy Policy, By: Multi-Unit Franchisee | 1,433 Reads | 5 Shares. The issues are then ranked from top to bottom by their average score. © 2001 - 2020 National Federation of Independent Business. The data shows that the influx of regulations is making owners extremely uncertain about government policy and the economy, which is stagnating any growth in the small business sector. October 23-26, 2020 . The cost of health insurance, labor, and taxes remain at the top of the latest 2020 NFIB Problems and Priorities Survey. ECONOMIC TRENDS _____ NFIB Research ... financing was their top business problem (down 1 point). The biggest change from the previous report was “Finding and Keeping Skilled Employees.”  This indicates that the labor market is tightening, which is good for workers that have jobs where they can command higher pay and better benefits. At the top spot, the “cost of health insurance” remains the number one problem for small businesses, unchanged since 1986. Looking for a franchise in Culver City? NFIB survey shows that cost of health insurance reaches the third decade as number one headache for small business, For Immediate Release Andrew Wimer, 202-314-2073 or 703-298-5938 (cell) Follow NFIB on Twitter @NFIB Follow Andrew on Twitter @AndrewWimer. NFIB’s Quadrennial Problems and Priorities Survey Ranks Small Business Problems. Small business owners do not have compliance officers to help them jump through all of these regulatory hoops. Date: September 15, 2016 Survey respondents are drawn from NFIB’s membership. ... Real Estate, Business Expenses, the Economy - 07-21-2020. WASHINGTON, D.C. (August 13, 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. … Problems and Priorities has three characteristics that make it unique. NFIB every four years presents a survey of 75 potential business problems to its members. The survey and publication establish the relative importance of small business owner concerns and thereby a de facto is-sues priority list for NFIB. NFIB’s latest tax survey, The Tax Cuts and Jobs Act One Year Later: Part II, confirms small business owners believe the tax law has had a positive effect on the economy.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. No media company understands the franchise landscape deeper than Franchise Update Media. It is such a huge burden for small business owners that it overshadows the next biggest problem on the list by 23 percentage points  Obamacare was supposed to address the high costs, but clearly, most small business owners have not felt any relief. • Small-business owners evaluated most problems in the 2020 survey as they did in 2016, the date of the last Small Business Problems & Priorities survey. Copyright © 2001 - 2020. Over 50 percent of small business owner find the cost of health insurance a critical issue. Two thousand eight hundred and thirty-one (2,831) small-business owners returned useable questionnaires out of 20,000 surveys mailed. Today the NFIB Research Center released the 10th edition of its Smal... l Business Problems and Priorities report. This survey was conducted in October 2020. Cost of Health Insurance. NFIB Chief Economist William Dunkelberg explained in Forbes why he thinks raising the minimum wage to $15 an hour is bad business policy. 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. National Federation of Independent Business (NFIB)/Texas, the state’s leading small business association, released its quadrennial Texas Problems and Priorities Survey in conjunction with the NFIB national Problems and Priorities Survey.These two surveys detail the top ten most burdensome problems for small business in Texas and nationally, demonstrating the vast differences in the Lone … The survey of 505 small- and mid-sized US business owners conducted from July to September shows that 65% are unsatisfied with how either major party candidate has addressed “the issues most important to them as business owners,” up from 53% dissatisfaction in the spring. Latest Tax Relief News for Small Business. The first is that the survey has a large number of respondents. Five hundred sixty -one (561) usable responses were received — a response rate of 11.2 percent. This is largely due to the historically low unemployment rate the last two years, pre-COVID, as businesses struggled to fill positions. The percent of owners finding it a critical problem increased from 24% in 2016 to 31% in 2020. The 2016 Problems and Priorities survey revealed that small business owners listed the cost of health insurance, government regulations, and high federal taxes as their top three concerns. The current administration has added a record number of regulations on small employers, especially through the Environmental Protection Agency and Department of Labor. Latest Tax Relief News for Small Business. Check out our California Franchising Guide. 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