What Should Be Done to Fuel Small Businesses Growth?
Most experts agree that small businesses fuel the economic recovery. Hence all the anxiety from many about ObamaCare and other taxes proposed to those "rich" individuals in upper income brackets.
The reality is that those individuals, the "rich", are the wood that fuel for the economy. Those are the small business owners and executives that employ others, drive innovation and the open their wallets for new spending.
Barbara Weltman, a 2012 Big Awards judge, tweeted:
— Barbara Weltman (@BarbaraWeltman) April 3, 2013
As business executives, leaders and owners, you should work to get ahead of the curve downward, starting with reading the report.
The 2010 healthcare law contains a tax on the health insurance policies that most small businesses purchase. Although the tax is formally structured as a fee on health insurers, analysis has determined that virtually all of the tax burden will be passed on to the purchasers of insurance: employers and employees. Estimates predict the tax will raise the cost of employer-sponsored insurance by 2% - 3%, imposing a cumulative cost of nearly $5,000 per family by 2020. The NFIB Research Foundation’s BSIM model suggests that such price increases will reduce private sector employment by 146,000 to 262,000 jobs in 2022, with 59 percent of those losses falling on small business.
Then take some time and review the latest Small Business Report from March from ADP. Are Small Businesses scared to hire, scared to act and waiting for some good news?