Fellows mentioned in this story: Sherry Menor

From Hawai‘i News Now:

In this episode of “Covering the Cost” on May 20 at 12:30 p.m., Annalisa Burgos sits down with Hawai‘i Chamber of Commerce President/CEO Sherry Menor and Hawai‘i Business Magazine editor-in-chief Jennifer Ablan to talk about the cost of doing business in Hawai‘i.

Small businesses make up more than 99% of all businesses in the state, employing nearly half the private workforce. But the state also has one of the highest first-year business failure rates in the nation, with 25.4% of new businesses closing within their first year, compared to the national average of 21.5%.

Those that do survive struggle with high operational costs, workforce shortages, limited market size and little access to capital, making it hard to sustain growth and remain resilient amid broader economic challenges, like the war in Iran, tariffs and federal spending cuts. Experts say high costs of labor, rent, utilities, taxes and shipping, along with strict regulations, hamper business growth, making Hawai‘i among the worst states to do business, according to national surveys and rankings.

Watch at hawaiinewsnow.com.