Despite recession, Minnesota businesses optimistic about future

Despite recent layoffs and smaller profits, about 87 percent of Minnesota businesses said they were optimistic about the future, according to a Minnesota Chamber of Commerce survey.

This optimism comes while one-fourth of the the 350 Minnesota businesses surveys have laid off workers in the past year, one-third of those expect to make additional layoffs, and one-third reported lower profits since last year, a news release from the organization said.

“It’s encouraging that many businesses are starting to see light at the end of the tunnel,” said chamber president David Olson said. “At the same time, the findings underscore that there’s work to do if Minnesota businesses are to compete effectively in the global marketplace.”

Taxes and health care were the top two concerns for businesses surveyed. More than 40 percent surveyed said taxes were a greater burden than five years ago and zero businesses reported lower taxes.