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Taxes are huge issue of the election inches closer but it's actually not the top concern for many business owners -- -- new survey of small business CEOs.
Laid out their top three problems and they are.
Health care at 62% of the economy at 61%.
And access to capital 46%.
Susan solving business CEO of -- SE TV dot com and a small business expert.
To see that health care he's a bigger concern than the economy.
Yes they're really -- actually Melissa for the about the last twenty years health -- been creeping -- concern for small businesses.
And what we've seen a small businesses as health care has risen in cost they have had to either cut there health care for their employees.
Or they've cut back on what the coverage can be a lot of them opted for health savings accounts right right now they are paralyzed with fear about Obama care.
Particularly when they look at the fact that no -- can explain how this is gonna get paid for.
But secondly they also recognize that costs are going to be really sky rocket.
And what's happening for those employees who have under fifty employees right now we -- where your mandated to provide health care coverage.
They're saying you know what I'm not gonna cross over that fifty employee threshold.
Because it's too expensive that the disincentive for growth.
The second thing is I've talked to many small businesses were saying.
I got over fifty employees right now but I'm reducing my workforce -- cutting them back to part time I know in this economy it's ludicrous.
But it's a huge concern and is going to continue to be what.
Obamacare in a -- most employers will say needs to be repealed -- the second one I wasn't surprised about it's the economy in of course that that is something that I think small business owners would be.
Most focus on because that's -- -- demand comes for a that's right economy is huge in fact right now small business optimism has plummeted again.
More small businesses are saying they're not going higher and now we're -- even see some small businesses starting to lay employees off once again a very sorry state for this economy.
But that really what they're saying is.
President you have got to get the federal deficit in check you've got -- sixty -- only -- small businesses are focused on the deficit more a band.
Taxes more than other things that might drive the economy they really -- to trickle down from the deficit haven't they connect those -- well because you can only keep spending money you don't have for so long the reality of being in business as you can't spend money that you don't have and they have no way to repay.
They also see how it's affecting consumer confidence.
And what they see is consumer comments that confidence isn't coming back people aren't spending money like they should in order really grow your small business.
And it not only do they fear more of a recession they even fear going into a depression.
And that access to capital of course is the other 146%.
Said that they were concerned about -- that was that you know very significant headwind.
President Obama greeted the thirty billion dollar small business lending fund.
But will not a lot of that money made it back out when I talk to regional banks small banks community banks you know they say.
This standards are just a lot higher now from lending because you know we've been burned and also.
Businesses are reluctant to -- I mean that's absolutely true that thirty billion dollar fund what a joke.
Because not so little of it got out to small businesses we also saw hundreds of community banks go out of business and that they didn't have a bail -- they weren't too big to fail.
So what we do know is yes indeed under reading writing standard should be strong -- But balance sheets for small businesses aren't strong at this point they have -- -- This is -- forgotten market segment.
In this economy right now despite the rhetoric it's had forgotten what I -- solution though because it's not to give away money is -- businesses that are gonna felt the same time businesses.
Need money in order to bankroll their operation so I don't really know what the solution there as well this solution has to really get the economy going again for his.
-- -- out small -- as you said militia that are about another -- but no seriously it's it's not it's it's funny but it's not -- you know small businesses until they see that recovery.
They're not gonna go -- -- most of the bankers I speak with that said.
Loan applications are down.
So -- as you know if you're not act if the small business aren't going out to get loans obviously banks can't lend to them -- but nonetheless they're still they aren't strong enough to get those -- -- we need to get the Connery going -- need a pro growth agenda we need free enterprise.
We need an economy that will allow the American dream to be alive and well Susan.
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