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The survey was conducted by Alignable and showed that 55% of
small businesses in the nation had difficulty paying their rent
in July.
Chris Davis of the National Federation of Independent Businesses
gave insight into how the small business landscape in Illinois
has been doing.
"Small business optimism is improving, and that's to say that
small business owners are getting a little less pessimistic.
However, they are still extremely pessimistic," Davis said.
"Fewer than 50 percent of small business owners still expect
conditions to improve over the next six months."
Davis said many small businesses are still struggling to find
qualified workers despite raising pay and offering other
benefits.
"In July, 61% of business owners either hired or are trying to
hire, which is up from previous months," Davis said. "Of those
trying to hire, 92% of business owners report fewer or no
qualified applicants."
According to state numbers, Chicago has seen its commercial
property tax increase by 93% over the last ten years, affecting
residents and businesses. In addition, Chicago has the
second-highest commercial property taxes in the nation at 3.78%,
more than double the U.S. average for the largest cities in each
state.
Davis told The Center Square these increases in taxes need to be
stopped if small businesses hope to get back to an acceptable
level.
"The number one thing the state can do is push the stop button
on new regulations and new employer mandates that make it more
and more expensive and difficult for employers to hire workers,"
Davis said.
The only city with a higher commercial property tax than Chicago
is Detroit, which filed for bankruptcy in 2013.
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