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With the open enrollment period for health insurance rapidly approaching, many small business owners are probably starting to think about their plans for next year – and with lots of recent rumblings about the Affordable Care Act’s (ACA) success, some small business owners may be worried about their options. But for California’s small business owners, there’s actually plenty of good news about the ACA.
September 8 marks the centennial of the estate tax, which establishes a tax on certain estates that are transferred as inheritance. To mark the occasion, we’ll likely see many pundits calling for the abolition of this tax and knocking its impact on small businesses. But the reality is that the estate tax, which only applies to estates valued above $5.4 million, impacts very few small businesses. Instead of worrying about a tax that affects only the very wealthy, we should take this time to focus on the real tax issues that hurt small businesses - like inversions and other loopholes that favor larger corporations at the expense of Main Street.
Scheduling open enrollment for health insurance at the end of the year is akin to driving on the Bay Bridge during rush hour. The journey could be long, slow and more than a little frustrating.
Unfortunately, November and December are exactly the times that many small businesses schedule open enrollment for their employees. Chris Patton, vice president of sales at Covered California for Small Business says open enrollment at the end of the year is a tradition that like many other end-of-year activities can be stressful.
Many small businesses can’t afford an HR department, which means that benefits – like health insurance, paid leave and retirement – can be difficult and costly to administer. But employee turnover is expensive as well, costing an employer approximately 75 to 150 percent of an employee’s salary. Benefits can be key to reducing employee turnover, increasing employee productivity and ultimately boosting businesses’ bottom lines.
Health Insurance Rules Changing In 2016 for Businesses Considered Large; Those With 100 or Fewer Employees Could Still See Big Advantages Through Covered California for Small Business
When it comes to the Patient Protection and Affordable Care Act, many employers have to determine if their business is required to offer health insurance to their employees under the law. This requirement varies based on size, and it broadened its scope in 2016.
Keith Crawford knows the construction business inside and out. He began his career as a construction contractor, but stood apart for his business capabilities. He was often asked by competitors to close shop and work for them. After spending years as an admired authority on construction, Crawford finally launched his own consulting firm.
We often hear from small business owners that they feel like their voices are not heard on key issues that impact their small businesses. That’s why we brought 150 small business owners to D.C. for our second annual Small Business Leadership Summit. With its theme, “Recognizing the Power of the Small Business Economy,” this year’s Summit discussed how the small business case is too often misunderstood and misrepresented in the media, at the public policy table and at the ballot box.
In California, clean energy is an important topic. Whether we’re looking to conserve water or protect our forests and beaches, clean energy and energy efficiency efforts are important to helping our state thrive. But one thing people don’t always realize is the economic importance of clean energy to small businesses.
During National Small Business Week, Small Business Majority is recognizing small business owners who strive to give back to their communities. Bryce Smith, owner of the Adel Family Fun Center in Adel, Iowa, is certainly one of them.
This is a guest post from Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration (SBA). This blog originally appeared on the SBA’s website.
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