Insurance costs and taxes top the list of potential roadblocks for small business owners in 2007, according to a recent Wells Fargo/Gallup Small Business Index survey. These results echo the findings of the U.S. Chamber's 2007-2008 National Business Agenda survey (see uschamber.com, January 2007).

Nearly 65% of the 600 small businesses surveyed by Wells Fargo/Gallup said that the cost of insurance is a primary concern, while 62% cited taxes. Forty-five percent said that government regulation is a major concern. Rounding out the top five concerns are energy prices and finding qualified employees.

"The fact that small businesses are worried about taxes and escalating insurance costs comes as no surprise to the U.S. Chamber or its members," says Bruce Josten, Chamber executive vice president for Government Affairs. "Policymakers should free up more resources for small business growth and job expansion by making permanent the Bush tax cuts, including repealing the death tax, and creating new ways for small firms to access affordable health insurance."

The Wells Fargo/Gallup survey also tracks small business priorities. Nine in 10 small business owners who established a business plan for 2007 said that increasing sales and revenues is a high or very high priority. Cutting operating expenses was identified as a top goal by 63% of the respondents, followed by developing new products or services (58%), reaching more customers (57%), increasing advertising (46%), and investing in technology (37%). Just 24% said that hiring more employees is a high or very high priority for 2007.

The Gallup Small Business Index is calculated using six measures: current financial situation, revenues, cash flow, capital spending, number of jobs, and availability of credit.