Health Care Law is Top Concern
- Concern about Obamacare has increased by 10-points since June 2011 and by 4 points since last quarter.
- 71% of small businesses say the health care law makes it harder to hire.
- Only 30% say they are prepared for the requirements of the law, including participation in the marketplaces.
- Among small businesses that will be impacted by the employer mandate, one-half of small businesses say that they will either cut hours to reduce full time employees OR replace full time employees with part-time workers to avoid the mandate. 24% say they will reduce hiring to stay under 50 employees.
Outlook for Hiring Remains Grim
- 77% continue to think the U.S. economy is on the wrong track. However, small businesses are more optimistic about their local economy and individual business.
- The majority (61%) of small businesses do not have plans to hire next year.
Small Businesses Looking for Legislative Solutions, Not More Regulation
- Concerns about regulation have increased significantly from 35% last quarter to 42% now.
- Small businesses are looking for leadership on issues that will remove barriers and encourage growth.
- 88% of all small businesses support addressing entitlement spending to resolve America’s growing financial challenges and escalating debt.
- 83% support Congressional efforts to reform the tax code—with the majority focusing on making it less complex.
- 81% of small businesses surveyed believe the immigration system is broken and needs to be reformed.
- In contrast to the President’s recent speech pushing new energy regulations, 90% of small businesses support easing EPA regulations and opening up more federal lands for drilling.
- The only thing that scares small businesses more than what Washington has already done (23%) is what the federal government will do next (63%). 78% of small businesses are concerned about the prospect of Nancy Pelosi regaining her speakership following the 2014 elections.