Future 42@future42org
The National Federation of Independent Business just released their report on small business, and the results in Washington state are not good.
From the report conclusion:
"Washington is a beautiful, high-income, and diverse state. But it has challenges. Its unemployment rate is high and rising, and its small businesses are struggling. Its Small Business Optimism Index is much worse than the U.S. overall, and Washington owners report worse small business health.
When you try to understand why, two major problems stand out.
At the top of the list is labor. Small businesses are not hiring, and a major reason why is because it is much more costly to do so in Washington than in the rest of the country.
A second reason for their struggles is regulation, which the data suggests is much more challenging for Washington small businesses than for those elsewhere. Washington is a difficult place to operate a small business right now, and the data sends clear signals why."
TL;DR Small businesses here are struggling with high labor costs, government over-regulation, and high taxes.
Have a read for yourself: nfib.com/wp-content/upl…
@nfib_wa