User Rating:  / 0

Billings Chamber of Commerce/Convention and Visitors Bureau staff members are discussing the latest findings released from the U.S. Chamber of Commerce. The data shows small businesses' outlook for the United States economy declined in the third quarter and fewer expect to hire additional employees, with many executives citing government taxes and regulations as significant hurdles, according to a poll conducted online for the U.S. Chamber of Commerce by Harris Interactive between September 29 and October 6, 2011.

"The voices of Main Street businesses are telling us plain and simple: To start hiring, we need faster economic growth and a change of course in Washington," said U.S. Chamber President and CEO Thomas J. Donohue.

Billings Chamber of Commerce/Convention and Visitors Bureau President John Brewer said, "In talking with our members, many say economic hurdles imposed by Washington are affecting their growth." Brewer added, "At the top of their list is a concern over healthcare costs."

The poll of 1,330 small business executives found nearly nine out of ten (89%) now believe the U.S. economy is on the wrong track. Only 17% expect to add employees over the next year, down from 19% in July. The survey defined a small business as a company with fewer than 500 employees and annual revenues of less than $25 million.

The small business owners continue to cite the health care law as one of their greatest challenges, as 41% pointed to it as a top concern, despite passage more than a year and a half ago.

The poll pointed to positive reactions to the U.S. Chamber's six point jobs plans, which was sent to the president and Congress last month, particularly when it came to increasing domestic energy production (80% view as effective), speeding up permitting and provide regulatory relief (74%), and passing tax incentives that will create jobs and increase revenue (67%). This contrasted strong unfavorable opinions of the President's Jobs Plan, which four out of five (80%) viewed unfavorably.