Small Business Blog Post Material

Small Businesses On What Matters:

Expansion of overtime eligibility
Department of labor’s legal counseling disclosure movement
Osha environmental regulation that affects manufacturing and farming
ESBA’s retirement reform could hinder small business retirement plans

(NFIB)

Many of the regulatory costs are fixed costs thus businesses with 5 and 500 employees pay the same costs
42% of businesses surveyed say that few or no qualified individuals applied for an open position
Many other businesses cite that attracting customers to the business is their biggest problem

Small Businesses Want to Grow: How Can they?

Numerous reports have cited that small businesses have plans to expand within the next year. An analysis conducted by the Wallstreet Journal in January 2016, highlights fifty-four percent of small businesses surveyed say they expect their employee base to increase. Twenty-seven percent of businesses interviewed for a New York Federal Reserve report, detail plans to increase their full time staff within the next year. A report in February 2016 by the National Federation of Independent businesses however, documents forty-two percent of small business have encountered obstacles in identifying qualified applicants for open positions. Similarly, survey results indicate that numerous businesses have expectations to increase profitability and/or sales revenue, while a complimentary majority cite difficulty in attracting customers and identifying new markets. To summarize the current state of affairs, it appears that small businesses share a desire to expand both financially and physically, but face disparities in realizing that goal. This therefore prompts the question: How should small businesses go about achieving affective and meaningful growth?

Adjusting to the current state of Capital Markets

-Since the financial crisis of 2008, small business owners have encountered obstacles in accessing traditional sources of capital. https://ilsr.org/understanding-small-business-credit-crunch/ -Alternative Financing sources available to small businesses to help with growth

crowd funding

http://www.crowdsourcing.org/editorial/global-crowdfunding-market-to-reach-344b-in-2015-predicts-massolutions-2015cf-industry-report/45376

Non-proft lenders

http://www.businessnewsdaily.com/8448-best-business-loans.html https://www.accion.org/content/statistical-reports https://www.accion.org/impact-and-key-statistics

Personal savings

Managing Labor Expansion Effectively

http://www.paychex.com/jobs-index/index.aspx

Navigating Health Care Regulation

Understanding the affordable care act and its impacts on employment

participating in the SHOP Exchange negotiating on private insurance plan prices converting their employee group plans into individual employer-sponsored plans, such as Health Savings Accounts or Health Reimbursement Accounts (HSA’s and HRA’s) switching to direct primary care using Workplace Wellness Programs While some of these options may be accompanied by risks, they can serve as cheaper employer coverage alternatives. [1]

Understanding How to Leverage New Technologies to Attract Customers