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The
most recent survey from Alignable shows that more than half of
Illinois small business owners earned less at the end of 2023
compared to the same time frame last year. Tied with Florida,
Illinois finished with the second-worst fourth quarter, behind
only New York and Ohio.
Separately, numbers from the National Federation of Independent
Business show that November 2023 also saw less revenue than in
2022.
Noah Finley, Illinois state director of NFIB, told The Center
Square that many owners are not optimistic about the upcoming
year.
"A net negative of 42% expect better conditions in the next six
months," Finley explained. "That's a deficient number right
there."
The NFIB survey of small business owners shows that the most
critical issue owners are looking to fix is finding quality
workers.
"On the economic front, they [business owners] are having
trouble finding qualified workers, and higher prices and
regulation are still taking their toll," Finley said.
There are also governmental issues, he said.
"On the regulatory side, they are facing several new mandates at
the federal and state levels," Finley said. "Here at the state
level, we have the paid leave mandate that went into effect on
Jan. 1, which will disproportionately impact small businesses."
The second biggest issue among small business owners in the
state of Illinois is inflation, and the third is taxes,
according to the NFIB survey.
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