Health Care, Taxes Vex Small Business Owners

The National Federation of Independent Business has released its Small Business Problems & Priorities Survey in which 4,044 small businesses rank their toughest problems.

The cost of health care has had a lock on the number one spot since 1986, and 47% of survey respondents cite the problem as 'critical.' "No other single problem can touch health costs in terms of either the unanimity or intensity of concern it generates among small business owners," according to William J. Dennis, Senior Research Fellow at the NFIB Education Foundation and author of the study. "Complaints about high health insurance costs are as common among those providing coverage as those who can't begin to afford it."

The cost of taxes occupies the 2nd (federal taxes on income), 5th (social security taxes), and 6th (state taxes on income) spots, giving taxes as a whole an even greater priority than health care costs.

Other major concerns realized by the study include Unreasonable Government Regulations (4th), Workers' Compensation Costs (7th), Federal Paperwork (8th), Cash Flow (9th), and Cost of Natural Gas, Gasoline, and Oil (10th).

At least we can be relieved that the very last thing on the minds of concerned small business owners is Y2K problems, ranking 75th on the list of 75 problems.

You may like these other stories...

It's not a reality—yet—but accounting software is poised to eliminate accountants. We are at a tipping point for many similar professions: online education replacing professors, legal software replacing...
Inversions: Loophole Is the ProblemJacob J. Lew, the U.S. Treasury Secretary, published an opinion piece in the Wall Street Journal that "the system has become full of inefficiencies and special-interest loopholes. That...
School tax breaks get House support as Democrats objectRichard Rubin of Bloomberg reported that the House of Representatives on Thursday voted to expand and simplify tax breaks for education as Republicans continue to pass...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.