The State of Minority- and Women- Owned ... - Cleveland.com

Table 6.24. What is the Most Important Problem Facing Your Business Today?
Nonminority
Male
Statistical Disparities in Capital Markets
African
American
Other Hispanic
Nonminority
Female
Financing and interest rates 5.4% 20.7% 9.1% 5.7% 5.8% 6.3%
Taxes 6.3% 2.4% 4.9% 7.7% 4.3% 5.7%
Inflation 2.7% 1.0% 2.3% 0.5% 1.4% 2.3%
Poor sales or profitability 17.8% 38.5% 28.9% 30.0% 22.5% 20.6%
Cost/availability of labor 1.5% 0.0% 0.6% 1.5% 1.5% 1.4%
Government regulations/red tape 4.7% 1.0% 5.4% 9.6% 2.5% 4.5%
Competition from larger firms 4.0% 2.7% 2.7% 3.6% 3.6% 3.8%
Quality of labor 7.9% 6.9% 5.0% 3.8% 6.5% 7.2%
Cost and availability of insurances 10.3% 1.8% 3.1% 5.2% 6.4% 8.6%
Other 2.6% 1.9% 4.0% 2.8% 1.6% 2.5%
None 5.3% 3.4% 9.4% 4.1% 8.6% 6.0%
Cash flow 6.2% 5.1% 4.6% 7.1% 6.8% 6.3%
Growth 0.9% 2.7% 0.4% 1.1% 0.8% 1.0%
Foreign competition 1.3% 0.0% 1.0% 0.1% 0.7% 1.0%
Competition - other 1.6% 0.8% 1.8% 0.1% 1.1% 1.4%
Availability of materials/resources 0.8% 0.8% 0.6% 1.6% 1.2% 0.9%
Labor problems other than cost or quality 1.2% 2.2% 0.2% 0.0% 1.3% 1.1%
Internal management/administrative problems 4.2% 2.5% 4.3% 1.0% 6.1% 4.4%
Environmental constraints 1.4% 0.7% 1.6% 2.3% 2.0% 1.6%
Advertising and public awareness 2.2% 1.8% 2.4% 1.8% 3.3% 2.4%
Market/economic/industry factors 4.9% 1.9% 4.0% 2.3% 6.2% 4.8%
Health care cost and availability 1.5% 0.0% 0.7% 0.8% 1.4% 1.4%
Energy costs 1.5% 0.0% 0.7% 3.7% 1.2% 1.4%
Costs other than health care and energy 2.2% 1.0% 0.1% 3.6% 1.0% 1.9%
Owner’s personal problems 0.3% 0.0% 0.0% 0.0% 0.8% 0.4%
Technology 0.4% 0.0% 0.7% 0.0% 0.5% 0.4%
Dealing with insurance companies 0.3% 0.4% 0.0% 0.0% 0.4% 0.3%
War and September 11th 0.2% 0.0% 1.3% 0.0% 0.5% 0.3%
Source: NERA calculations from the 2003 SSBF (n=4,072).
Note: Results are weighted.
NERA Economic Consulting 225
Total