Respondents to an NJBIZ online poll overwhelmingly named high state and local taxes as the greatest threat to growth.
Nearly 50 readers participated in the poll, which asked: “What factor represents the biggest challenge businesses face in attempting to expand in New Jersey?” Taxation was chosen by 70 percent of the respondents, followed by a shortage of skilled workers (19 percent); unreliable transportation infrastructure (4 percent); external factors (4 percent) and onerous environmental regulations (2 percent).
The poll ran from Sept. 20-24 on NJBIZ.com.
What factor represents the biggest challenge businesses face in attempting to expand in New Jersey?
- High state and local taxes (71%)
- Shortage of skilled workers (19%)
- Unreliable transportation infrastructure (4%)
- External factors (4%)
- Onerous environmental regulations (2%)
Has your business overcome these challenges? If so, it might rank among the 50 fastest growing companies in the state. Let us know and submit your nomination for the NJBIZ Fast 50 awards by the Sept. 29 extended deadline. Click here for more information and to nominate.
The NJBIZ 50 Fastest Growing Companies program honors New Jersey businesses with increased gross revenue over the last three years (2016 – 2018). The top 50 companies will be recognized during an awards ceremony in November, and winning companies will be profiled in a special supplement included in NJBIZ.The NJBIZ 50 Fastest Growing Companies Award affords an excellent marketing tool to use for promoting your business or hiring new staff. If you feel you have a client that qualifies, please pass this information along before the Sept. 29 deadline date, or click here to learn more.