The Kauffman Foundation did a poll of the attendees at the recent Inc. 500 conference. One of the questions they asked is "What is the biggest impediments to the growth of your business?"
As the results below show, taxes barely registers as a concern.
This is not to say these firms don't care about taxes - they do. But these results highlight that issues beyond taxes are viewed as greater constraints by these fast growing firms.
As we pointed out in our recent Millionaire's Tax and Small Business Jobs post, fast growing firms (often referred to as gazelles) are the main U.S. job creators.
We also pointed out that relatively small changes in personal tax rates have little impact on their hiring decisions (see the post for more details). This data helps illustrate this point.
Relevant, informative and inspiring post, I definitely need this kind of ideas. The graph is well explained. Thank you for providing such an intelligent thoughts.
Posted by: Shands Diaz | October 03, 2011 at 04:42 AM
I read your previous article and it was spot on. This is a great article also. GigaOM also did a great article with an infographic on "How Technology is Changing Business." It discusses the issues businesses are having such as which changes are impacting their business the most, etc. While there is not any overlap between their responses which are related to technology's impact and those in your article, the take away I get from both articles is that many of the things being discussed in the political sphere are not relevant to most businesses. Thanks for another good article.
Posted by: Darrell Glasco | September 30, 2011 at 09:34 AM