Despite my worries about the health care reform, it has not influenced my business decisions so far. But that could change if we decide to grow.
We're far from becoming a 50-person company forced to provide coverage or pay fines starting in 2014. But the requirement is a barrier to growth. If this law isn't repealed, will I stop hiring at 49 employees? Probably.
I'm concerned the reforms will severely impact the rates at which we can provide health care, something that's already an issue, especially in my line of business. This boatyard is one of the last full-service marine repair shops for medium-sized private vessels. The rates are higher because most of our employees are older. Only a third has signed up for the company option.
The passing of these policies, though, points to a bigger problem. New legislation and requirements are passing at such a high rate that no one in their right mind can keep up with compliance. Small businesses below 45 or 25 employees just don't.
We asked 10 small businesspeople the one thing they'd ask President Obama to do to make it easier for them to hire.
|Apple to FINALLY join Dow. It's about iTime!|
|6 stocks to buy and hold for the next decade|
|Abercrombie & Fitch is in serious trouble|
|Putin gets tough, slashes own salary as economy tanks|
|You'll have to wait for your giant iPad ... but it'll be worth the wait|