Dominguez is not alone in her support for state-sponsored retirement savings programs like CalSavers. According to scientific opinion polling by Small Business Majority, nearly seven in 10 small-business owners support CalSavers or a similar program in their state.
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Not all businesses are opposed. Costco Wholesale (COST) supports a national minimum wage hike and already pays its hourly wage earners an average of $20.89/hour. The Container Store (TCS), whose CEO just became chairman of the National Retail Federation, also supports an increase.
"Small manufacturers account for nearly half of all manufacturing jobs in the United States, but they are disproportionately impacted by a lack of access to capital," said Small Business Majority Founder & CEO John Arensmeyer.
I work for a small business committed to hiring employees who have traditionally been left out of the specialty coffee industry. When I began my position as director of people and culture for that business, one of my goals was to help my team members access a retirement savings program.
Local small business experts say the budget funding could be a boon to small business owners, their employees and self-employed entrepreneurs, making it easier for them to buy health insurance in the individual market.
“There’s a new way to save for retirement in California. Here’s how it works” (sacbee.com, July 1): Many California small businesses struggled for years to help their employees access retirement programs.
I was introduced to a national group focused on getting small business owners involved in activism, Small Business Majority, by a friend in DC.
Lorenzo Harris, owner of Janico Building Services, a commercial janitorial services company based in North Highlands near Sacramento, was the first employer to join the pilot program in late 2018.
La ley SB-1234 permite que las empresas que no ofrecen servicios para que los trabajadores ahorren para su vejez, puedan inscribirse en el programa CalSavers, donde les pueden descontar el 5% del salario para generar un presupuesto programado con ese fin.
Even though the new state budget offers hope of bringing down healthcare costs for solo entrepreneurs like me, more must be done to make health insurance accessible to small businesses.