ASSESSMENT ON ATTITUDES OF SMALL BUSINESS
OWNERS AND OPERATORS IN NEW JERSEY
~ Small Business
Owners Say Current Business Climate Is Bad But Maybe
It Will Get Better ~
October 2011
(Trenton, NJ) – For the last
several years, New Jersey residents have suffered under
a poor economic climate with overall unpredictability
and a constant threat of job losses. In a time like
this, our legislative leaders must find ways to create
jobs and move the state forward economically without
defaulting to harmful solutions, like raising taxes
on already strained citizens.
According to the New Jersey
Lawsuit Reform Alliance Business Opinion Survey, conducted
weekdays from August 16 through August 31, 2011, very
few respondents feel positive about New Jersey’s business
climate over the past five years. With only two percent
saying it is excellent, and 13 percent good, most see
the climate as fair at 41 percent or poor at 43 percent.
There is little difference regionally; urban and exurban
businesses are a little more positive at 19 percent
excellent/good for both, while suburban businesses are
more negative, with 11 percent giving an excellent/good
rating.
There are few differences
by industry as well. Clearly, New Jersey businesses
feel that the general business climate is bad at this
time. Asked whether they think the business climate
will get better over the next five years, businesses
seem cautiously optimistic, with 41 percent suggesting
it will get better, while 24 percent say it will get
worse, and 31 percent see no change ahead. Retail and
service businesses are most optimistic, with 43 and
42 percent saying things will get better, while only
33 percent of construction businesses see things improving.
Suburban-based businesses are more optimistic with 46
percent saying the climate will get better, while urban-based
businesses are least optimistic, with only 35 percent
expecting improvement.
Perhaps unsurprisingly, most
respondents have a negative opinion of the state’s liability
laws from the perspective of their businesses. Only
25 percent say New Jersey’s liability laws strike a
good balance between consumers and businesses, while
50 percent say the laws favor consumers over businesses.
Only 11 percent think the laws tend to favor businesses
over consumers, while another 14 percent are not sure.
Construction industry businesses are especially likely
to say the laws favor consumers over business, with
two-thirds taking this position.
The sample consists of telephone
interviews with 543 business executives, managers and
professionals in businesses operating within the state
of New Jersey.
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