The views of New York's small businesses toward the state's business climate have fallen to the lowest levels in the Northeast, according to a new report by the National Federation of Independent Business (NFIB) - the New York Small-Business Conditions SM report. The report provides an overview of small-business conditions within New York and compares them with neighboring states.
Only 3 percent of New York's small employers say the statewide business climate is "supportive," compared with Connecticut (14 percent), Massachusetts (13 percent), and Pennsylvania (23 percent). And 47 percent of New Yorkers blamed "state government policies" for their pessimism - the; highest percentage in the region identifying government as the problem.
Only 12 percent, indicated that profits were "good" in New York, and 22 percent of those respondents characterized sales as "good (both readings were the lowest in the Northeast). Overall, 56 percent of New York's small employers reported that in the last three months their purchasing prices rose, while only 16 percent reported that they had increased their prices. However, a majority (56 percent) said increased "sales prospects" led them to conclude the outlook over the next three months was improving.
Small-business hiring has been slow, but 22 percent said they had one or more job openings. Over the same three-month period, 45 percent of New York's small-business owners made capital expenditures. Some 47 percent of the respondents reported spending on technology upgrades, and 42 percent were making expenditures for employee training.
When asked to pick their most important business problem, 16 percent of New York's small-business owners chose "insurance," followed by 15 percent that selected "taxes," while 14 percent identified "competition from big business."
"Our economy can't get out of first gear because we have the highest overall costs of doing business in the nation. These hurt small businesses more than they do big businesses, but both are impacted negatively. Costs include income taxes and corporate taxes, health insurance, workers'-compensation insurance, liability insurance, property taxes, energy, and wages. All are too high and make us uncompetitive," said Mark Alesse, NFIB/New York State Director.
The Small-Business Conditions SM reports are developed from surveys of small-business owners in selected states. The surveys are designed to determine the condition of the smallbusiness economy in each particular state. They are conducted every three months.
Copyright Central New York Business Journal Mar 04, 2005
Provided by ProQuest Information and Learning Company. All rights Reserved
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