Top concerns for small business owners
For owners of small businesses, it seems that there just simply not enough hours in the day to address each and every concern they may hold. Often, this means having to prioritize which topics will be addressed first, and which can be put on the back burner with minimal consequences.
To help owners decide where their priorities should fall, Manufacturing.net recently published a list of top concerns facing small businesses this fall.
- Health care: Michael Stahl, chief marketing officer of HealthMarkets Inc., explains that many organizations could see a 10 to 20 percent increase in health care costs if they had purchased their existing policy before the end of 2013. However, it is possible to allow workers the opportunity to purchase their own insurance through government-subsidized exchanges.
- Technology: The iPhone 6 made headlines with its latest feature, Apple Pay. Businesses that want to offer this service to their customers will have to purchase new equipment to process the payments. This will coincide with the introduction of new debit and credit cards that will feature chips rather than magnetic strips for improved data security.
- Taxes: Organizations' 2014 tax bills could be affected by a proposition known as Section 179, which allows small companies to deduct up-front rather than depreciate the cost of equipment assets, which could result in significant savings.
With these challenges and opportunities ahead, organizations can be prepared for any eventuality by reducing overhead and reinvesting the savings into the company. On Point Executive Center offers businesses the opportunity to streamline their operations through our virtual office solutions, which are complemented by our full suite of "On Demand" business services.