Increasing sales is something that is always a concern for small business owners. But are sales really a top concern? Well can be a little more complicated than that. In today’s business environment, there are many things that may keep a small business owner up at night.
According to one research survey, what concerns small business owners most maybe surprising to some. It’s not the competition, social media, it’s not even profits, or cash flow. You may think that getting a loan is high on the list, but you’d be wrong.
The one thing that is considered the biggest challenge by small business owners is the cost of health care. Health care costs are of concern to everyone, and small businesses are highly impacted. Government regulations which are considered oppressive are seen to be the second greatest challenge to small business. Not so much a surprise as the other concerns on the list, but a big still a big problem is the federal income tax on businesses.
More along the lines of what would be expected to concern small business owners are uncertain economic conditions which come in at number four in top business challenges. Not surprisingly the complexity of tax compliance for a small business is the fifth most concerning thing that business owners must deal with.
Is government to blame? Well when it comes to healthcare we can all agree that something needs to be done. Not only are individuals concerned about the state of healthcare in this country, but it’s obviously having a negative effect on the business environment. Small business is the backbone of this country’s economy and more should be done to help in their success.
Needless to say, the tax codes are also a government responsibility that are in need of major reform. Taxes have long been a huge challenge to both individuals and small businesses. Hopefully some of the newly proposed reforms will have a positive impact on that.