Our state lawmakers have engaged in a continuous campaign to stack the odds against Illinois small businesses. Short-sighted policies, which stack up costs for the business community, have remained in place long after they’ve been proven to weigh on economic growth.
As the owner of a small business here in Rockton, IL, I see firsthand the struggle and exhaustion of my fellow hardworking entrepreneurs. We are tired of constant increases in the minimum wage, business tax hikes, and the costs associated with liability claims. The economic devastation caused by the COVID-19 pandemic left many of us reeling to survive. On top of this, the constant threat of coronavirus-related liability lawsuits remains an issue as we reopen our doors to the public.
Unfortunately, it does not appear that Governor Pritzker or the state legislature care much about our pain. Together, small businesses employ millions of Illinoisans and contribute a huge chunk in taxes each year. Yet, we are often treated as an afterthought. To drive this point home, CNBC recently released a ranking of America’s Top States for Business in 2021 in which Illinois was ranked 48th in “business friendliness” and 29th in the “cost of doing business.” While hardly surprising, these rankings do quantify just how far behind our state is in creating a positive environment for economic growth.
Policies that create a drag on our economy also hurt our people. To compensate for the lower margins that stacked costs create, businesses are forced to raise their prices on consumers. This upward spiral inevitably squeezes the pockets of regular people. With inflation rising and Americans paying more for everyday house items, this is a recipe for disaster.
Our state lawmakers can fix this if they reform the misguided policies that currently stack costs for businesses. Minimum wage increases can be implemented more gradually. Our government can look elsewhere for revenue instead of resorting to endless tax hikes on businesses. And lawmakers can take steps to reform our state’s bloated legal system that exposes businesses like mine to expensive, frivolous lawsuits.
Our leaders have options. It’s time to enact policies that support businesses, restore jobs, and allow the economy to rebound. Enough is enough.
Nick Graulich
Owner of First Class General Contracting located in Rockton, IL
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