The problems facing my clients has been re-prioritized since 2008 as shown:
- The number one problem in 2008 and 2012 was cost of health insurance
- Second in 2008 was uncertainty over the economy in 2012 Cost of Oil and Oil Products
- In 2008 third was Cost of Oil and Oil Products in 2012 Federal Taxes on business income.
- Fourth in 2008 was uncertainty over government actions in 2012 Property taxes, real, inventory and personal property.
- Number 5 in 2008 was unreasonable government regulation and in 2012 Tax Complexity
- In 2008 sixth was Federal Taxes on Business Income and in 2012 Unreasonable government regulation.
The same Survey shows five areas with the largest increase in difficulty as demonstrated by the positions they rose from 2008 to 2012.
Environmental Regulations up 20 spots in the Survey.
Obtaining Long Term Loans up 17 places and Short Term Loans up 14.
Finding out about regulatory requirements is up 13.
Cost of government required equipment/procedures up 11 positions.
I think this quote from Dr. Bill Dunkelburg NFIB's Chief Economist captures the mood, "With employment still 5 million jobs below 2008 levels after 4 years of recovery Owners and Consumers have lost confidence in the governments ability to help."
In my own personal case I think current government actions and plans are hurting my business and so like so many other small business Owners I am in a wait and see economy.