Business uncertainty is at its highest point since the Covid-19 pandemic struck, optimism has declined and regulatory pressure is a top concern for businesses, according to a study from the Los Angeles Business Federation, or BizFed.
Taxes and fees, government regulations, high interest rates and the cost of energy were among top concerns for business leaders.
“The gap between business optimism and pessimism is now the narrowest we’ve ever recorded,” Tracy Hernandez, chief executive of the group, said. “This is a loud alarm. The data paints a clear picture of a business community who are struggling with pressures that are not yet resonating with lawmakers.”
BizFed also found that smaller businesses are most concerned about taxes and basic costs, while larger employers were most concerned about compliance, wage increases and negative regional perceptions.
“This poll underscores the urgent need for policymakers to cut red tape, manage costs, and restore confidence in the region’s economic future,” Angela Gibson Shaw, BizFed’s chair, said in a statement.
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The Los Angeles Community College District appointed Alberto J. Román as its permanent chancellor this month. Román has served as interim chancellor since November.
As chancellor, he will oversee a community college system that serves more than 194,000 students across nine colleges.
Román has more than 25 years of experience in education and has held a number of roles at LACCD.
“As an immigrant and first-generation college graduate, I’ve experienced firsthand the power education has to transform lives, and I’m honored to champion accessible education through my appointment as chancellor of LACCD,” Román said in a statement.
“I carry the district’s mission to heart – ensuring that every student, regardless of background, has access to education and the opportunity to succeed. Our colleges are engines of opportunity, and I’m proud to continue leading this work forward,” he added.
