The survey asked local importers and exporters about the challenges they face when doing business internationally. Exporters noted that shipping and packaging logistics (28%) and finding an overseas partner (25%) were among their biggest issues. Importers noted supplier reliability (25%) and concerns over product quality (25%).Other highlights included:
- 54% of the businesses said they would take no action if corporate income taxes were to go down. 19% would expand hiring, while 17% would purchase capital equipment
- Hiring continues to be steady while expectations are that the cost of goods will remain high
- Illinois’ corporate tax rate and pension funding are cited as the state’s most serious issues by more than half the survey’s respondents.
- Companies continue to be concerned about the economy and demand (30%), regulation (20%) and competition (19%).
For more information about the survey please visit mbfinancial.com.About the Business Owners Confidence Survey The Business Owners Confidence is designed to gather feedback from Chicago area business leaders regarding their attitudes and perceptions of the economy, both nationally and in the local market. The semi-annual survey was conducted online by Star Data Systems, Inc. from May 29 to June 12, 2014, and included 302 senior executives from mid-sized businesses across a wide variety of industries in the Chicago area. Findings are significant to a 95% confidence level with a margin of error of +/- 5%. About Cole Taylor Bank Cole Taylor Bank is a commercial bank headquartered in Chicago with assets of nearly $6 billion as of June 30, 2014. For more than 80 years, Cole Taylor Bank has been successfully meeting the banking needs of closely-held companies and the people who own and manage them by focusing on a relationship-based approach to business. Cole Taylor is a wholly-owned subsidiary of Taylor Capital Group, Inc. (NASDAQ: TAYC). About MB Financial Bank MB Financial Bank is a locally operated financial institution that has been delivering competitive personalized services for more over 100 years to businesses and individuals who live and work in the Chicago metropolitan area. With nearly $10 billion in assets, MB Financial Bank’s holding company is MB Financial, Inc. (NASDAQ: MBFI).