(The Center Square) – Wisconsin small businesses are optimistic overall, above the rest of the country, according to a new report from the National Federation of Business Research Center.
The state’s small business optimism is rated at 98.8, above the national 98.5. The state only ranked lower than others in real sales expectations and plans to increase inventory while scoring high in plans to increase employment and capital outlays.
“Wisconsin’s SBET report confirms how destructive high taxes – especially property taxes – and excessive red tape are to small businesses,” said NFIB Wisconsin State Director Luke Bacher said in a statement. “The progress made this past legislative session on tax relief and other reforms proves that the small business community’s grassroots efforts and advocacy are invaluable. Next up, voters have a chance to have their voice heard at the ballot this fall on ending the 400-year property tax increase.”
June numbers showed that unemployment decreased across Wisconsin’s 72 counties while tax collections are up 3.7% for the fiscal year, including a 4.5% increase in sales tax collections for the fiscal year through May from nearly $6.4 billion to nearly $6.7 billion.
Wisconsin small business owners also reported an overall higher health of their business compared with the rest of the country.
Business owners also reported a high quality of labor compared to national polling and less concern over competition from big business than the rest of the country while poor sales ranked above the rest of the country as a concern.
