Owner, Pratt Family Chiropractic
Pueblo, Colo.
I've been in business for 21 years and despite the state of the economy, my business is expanding. I purchased new equipment, am using new procedures, and have marketed myself correctly. I've grown 50% in last five to six months. But there are a lot of unknowns ahead, and there will be changes in Washington that could really impact me, such as how I will be taxed.
Some years I do really well, and I use what I earn during those years to help cover costs during slower years. All it takes is bad press about a chiropractor or a mistake in the phone book for my business to really take a hit. Having experienced this, and knowing that I might get killed with taxes because this has been a good year, I'm holding off on hiring.
Bringing on another employee doesn't mean simply adding them to payroll - I have to pay taxes on their wages and provide insurance, which is a big risk considering all the uncertainty ahead. And because the business is doing well, I am having to ask my current staff of three pull more weight to keep us growing.
NEXT: Rising costs and offshore rivals
| Sponsored by |
Bricks that grow from microorganisms, household garbage turned into art, three-wheeled bike-cars -- these startups are redefining urban living. More
These five entrepreneurs took their blue collar experience and used it to launch innovative businesses. More
Whether curating the perfect gift or finding a pet-sitter, these startups offer time-saving services that might just seem like holiday magic. More
