Biggest Problem Facing Small Business Owners

[KristineS]

This is an article about a new study that highlights some of the biggest problems facing small business owners. This article says the cost of health insurance is the number one problem facing small business owners. A lot of the other top ten issues also involve costs.

What I found interesting is that finding qualified and motivated workers didn't make the top ten. I would have expected to see that one.

[vangogh]

It's interesting that the cost of health insurance is number one, but it makes sense. For most the source of health insurance is their employer, but small businesses aren't in the same position as larger companies to be able to offer it to employees or their owners.

I know my own health insurance could be better and it is something I think about.

I bet finding qualified and motivated workers goes in an out of the top 10. Right now there are more people looking for work than jobs available so it's probably not a problem finding good help. At times when job seekers are more scarce I would think it might make the top 10.

[KristineS]

You may be right about that. With unemployment being so high right now, I bet employers can take their pick. That could very well be why that's not in the top ten.

[vangogh]

I remember about 10 years ago when the job market was the opposite it is today you did hear businesses talking more about not being able to find quality employees. I don't know if that became a top 10 thing, but businesses were having to pay higher salaries and give out a lot more benefits.

It's interesting how that swings back and forth.

[KristineS]

I'm hoping it swings back the other way. Higher salaries and more benefits sounds good to me.

[vangogh]

Always a good option to me too. It won't change my employment situation, but if more people have money they can spend more of it with me.

[orion_joel]

I would actually be interested to see something like this for Australia, i think that you would find some very different outcomes.

For example the article mentions Health insurance has been at number 1 for 20 years. In Australia this would not even be in the listing at all, as it is generally something business do not offer their employees. However other things like fuel costs, energy costs, and such i think would rank high in Australia. As well as potentially borrowing costs, as we have seen interest rates being driven by the banks increasing rates without the official rate moving. It really would be interesting to see some country comparisons for this type of thing, just to see how different cultures affect the things to do with business.

[vangogh]

Interesting to hear a perspective from a different country. How does health care work in Australia? Do you have to take care of it yourself or is it provided by the government?

[KristineS]

That is interesting Joel and it would be fascinating to see an international study. I'm guessing some issues, like taxes probably, would be pretty universal. Others, as you pointed out, would vary based on the laws of the country.

[Aaron Hats]

I think it depends on how you define "small business". A two person small business has different priorities than a 99 person small business.