FOR IMMEDIATE RELEASE

ALBANY, NY, July 9, 2026 – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association with more than 11,000 members in the Empire State, today released a New York-specific version of its nationally regarded monthly Small Business Economic Trends (SBET) report, showing the state below the national average in three important categories: ‘Expecting Economy to Improve,’ ‘Plans to Increase Employment,’ and ‘Now a Good Time to Expand.’

“This new, semi-annual report condenses six months of SBET findings to come up with direct New York data and trendlines that policymakers in Albany and in local communities can use to improve the small business economic climate in our state,” said NFIB New York State Director Ashley Ranslow, who has been leading the fight to reduce the tax and regulatory burdens on Main Street businesses. “Unsurprisingly, taxes and labor costs stand out as the top problems for small businesses in New York compared to the rest of the country. Indeed, while taxes are a major problem in New York and the U.S. overall, New York small businesses notably are struggling more with the state’s onerous, multi-level tax burden.”

NFIB New York member quotes from the SBET State Report respondents:

“Too much red tape, taxes, and growth restricted by laws that apply to high-yielding companies, preventing ours from growing!” – Retail, NY

“New York State is going way too far with regulations. From highway DOT aggression to new building laws and insurance rates that don’t make sense.” – Construction, NY

“Taxes are always too high in New York. Workers’ compensation and disability, as well as UI, are so costly to independent businesses.” – Services, NY

“Multiple issues are making it hard to be in business in New York State- high taxes, and many insurance companies pulled out, making it hard to get proper coverage. NYSEG electric rates are increasing at alarming rates. New York does not seem to encourage business/industry growth.” – Services, NY

Takeaways from the New York-specific report:

• Taxes are a major issue in the New York and the U.S. overall, but New York small businesses are struggling more with their tax burden (by a 3-point gap).
• The metrics so far paint a picture of a state with a series of challenges for small businesses, from a slightly below national average Optimism Index to a more seriously below national business health to very substantially below national Employment Index. Significantly few New York owners reported their small businesses as being in excellent (-4 points) or good health (-4 points) compared to the U.S.
• Respondents rated labor costs in New York 25% higher than national as the “single most important problem” facing small businesses (10.6 v. 8.5)

NFIB began publishing its Small Business Economic Trends (SBET) report quarterly, starting in 1973 and then monthly since 1986. The report tracks economic activity among small businesses in the U.S. The survey measures changes in sales, employment, investment, financing, and economic sentiment. While useful as a country-wide snapshot, no state can be defined by national numbers alone. Therefore, the NFIB Research Center has now launched new, semi-annual “State of the States” SBET reports for some of the largest states in the U.S. In order to create statistically meaningful numbers, responses from six monthly surveys are pooled together, creating summer (April-September) and winter (October-March) datapoints.

These reports help signal the unique challenges and strengths of each state covered. The full state-specific SBET for New York can be read at the link above or here. A brief, one-page history of the SBET can be read here.

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.