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Sageworks CEO Brian Hamilton on the impact of the health-care law on small businesses.
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It has given health care reform act illegal seal of -- Olsen business -- around the country are going to have to buck up and compliant.
We'll only see economic fallout let's ask -- Hamilton he is the CEO of -- works the company tracking small business finances.
So fifty million people are gonna get insurance that didn't have -- before in theory.
The government says that's gonna cost about 35 billion bucks or small businesses afraid they're gonna be the ones picking up at least part of that bill.
He -- thing of course but they're probably not surprised by the ruling people have expected to more or less even the -- yeah political conversation but really.
Our businesses are good at hunkering down in planning so okay -- probably anticipated this a little bit -- how they're preparing -- Well they've got to make more money right and these or lay off workers if possible or not hire them that's the real concern right right now private companies 27 million of them are growing.
They're profitable the margins are good.
But you know when they look out to the horizon there's more cost so will they say on the fence and hiring that's the big concern -- what's the answer your talking -- Well we talk -- all time -- and here's.
Some historical perspective since the Great Depression.
This is unprecedented really is -- and in the early seventies -- recession.
About thirty months -- these companies started to hire people.
Right now we don't know why they're on the offensive may be health -- can be tax policies we're not sure if we're politician -- we think that it's that.
But exclusively.
But he's been on the fence and they're -- so when that happens you've got to remember they've got mortgage payments that got credit card -- to break.
College tuitions to pay these are real people these are not publicly traded companies so.
You know so they're definitely not at a higher no matter what we'll -- this way if this gets you know this has been upheld they're not gonna run out were higher what you people.
No I will say that we don't know because it's been kind of percolating it's been -- -- -- the back burner for awhile.
I don't think they're gonna be shocked by yesterday's ruling.
-- -- -- Certainly but it certainly don't feel better get -- to more confident that costs are not going down if anything they're going to -- -- so they'd be more likely to not hire or to hire somebody part timer they would be less responsible for the health care costs.
We've got to recognize it's a legitimate public policy debate no doubt about -- -- From the business side -- least 47 million businesses.
Their costs are going up no question -- costs are going up.
-- we've got a lot of uncertainty it's an election year because recovering and all the time.
So it's not a boon for hiring there's no doubt yeah doesn't sound -- are they coming on right Hamilton say --
