In a campaign overshadowed by security issues, economic initiatives took a back seat. Here's what small business wants now.
by Rick Telberg
At Large
Now that President George Bush has secured his office for another four years, he and Congress face a host of problems and issues barely addressed in the last year on the campaign trail.
In a political season dominated by fear and terror, war and security, charge and counter-charge, many of the pocketbook issues facing the nation's consumers, investors, small businesses and their accountants have gone largely unaddressed.
Let's hope Bush will start his second term by reaching across the political and ideological divides of this nation to focus on what really seems to concern hard-working and job-producing Americans.
So, Mr. President, here's the list, with thanks to Bruce Phillips, research chief at the National Federation of Independent Business, who can cite persuasively...
"The 10 Most Severe Problems for Small-Business Owners"
1. Cost of Health Insurance. "Health insurance costs were a 'critical' issue for 66 percent of respondents, the highest percentage for any problem in the survey's 22-year history," according to Phillips.
2. Cost and Availability of Liability Insurance
3. Workers' Compensation
4. Cost of Energy (Natural gas, propane, gasoline, diesel, fuel oil)
5. Federal Taxes on Business Income
6. Property Taxes (real, personal, or inventory)
7. Cash Flow
8. State Taxes on Business Income
9. "Unreasonable" Government Regulations
10. Electricity Costs (rates)
Interestingly, some of the 10 least severe issues garnered more than their share of attention during the campaign.
For instance, the top 10 LEAST severe issues, starting with the least of the least:
10. Exporting My Products/Services
9. Competition from Government or Non-Profit Organizations
8. Competition from Internet Businesses
7. Increased National Security Procedures (a new problem in the 2004 survey)
6. Competition from Imported Products
5. Obtaining Short-Term (Less Than 12 Months or Revolving) Business Loans
4. Winning Contracts from Federal/State/Local Governments
3. Obtaining Long-Term (Five Years or More) Business Loans
2. Protecting Intellectual Property
1. Cost-Effective Mail Service
And then there are items that once were problems, and today are not any longer, perhaps for any number of reasons -- they've been fixed, or economic circumstances have changed.
For instance, interest rates were a major issue the last time the comprehensive survey was conducted in 2000. But this year it tumbled 29 ranks to 58th place. "Death (Estate) Taxes" became a non-issue, despite all the campaign rhetoric, falling 13 rungs in the rankings.
