Historic Inflation, Tax Pressures Highlight Problems and Priorities Survey

August 14, 2024

The uncertainty of the economy’s future ranks highly as one of many concerns affecting small business

Historic Inflation, Tax Pressures Highlight Problems and Priorities Survey

What it means:The eleventh edition of NFIB’s Problems & Priorities report offers an understanding of which issues are critical and of least importance for small business owners. This report will help state and federal lawmakers prioritize pro-small business legislation in the years ahead. Our take: Cost pressures, tax pressures, and economic uncertainty top the list of issues small businesses are concerned about.

TAKE ACTION

Make the 20% Small Business Deduction permanent.

NFIB released the 11th edition of its quadrennial report, Small Business Problems & Priorities. The report is based on a nationwide survey of small business owners, providing a comprehensive guide to 75 issues and their impact on small business owners. The survey found these issues at the forefront:

Cost Pressures, such as the cost of health insurance, supplies/inventories,

Federal Taxes on Business Income, and

Uncertainty over Economic Conditions and Government Actions.

“Despite the economic headwinds and challenges, small business owners are working hard to create new jobs and grow their businesses, but the threat of rising costs, taxes, and uncertainty gives Main Street pause,” said Holly Wade, Executive Director of the NFIB Research Center. Download NFIB’s 2024 Small Business Problems and Priorities report here.

TAKE ACTION

Make the 20% Small Business Deduction permanent.

Topics:

Research

Taxes

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More