When was the last time small business owner received a break?
When was the last time the small business owner received a break? The fact is, these past several years most breaks have come to the big businesses with little to no breaks for small business owners. Yet the small business owner is what keeps the community going while continuing to compete with big business in the marketplace. The perception is that government is not doing enough, but the reality is that no banking institution is helping the small businesses. Mostly all financial institutions focus today on big business. However, for the first time the government is providing relief to small businesses when it comes to providing health insurance for owners on an individual basis. Finally a small business owner can insure himself and receive—in advance—the money to make the payments that will enable him to acquire healthcare for himself and his family with no medical restrictions. The simple idea that they have the dollars to pay in advance to acquire insurance without ever being denied is a relief to small business owners. Let’s be clear: This is not a handout; it’s an advance which gives owners for the first time the peace of mind that their financial health is secure and can be paid without the worry of losing everything due to a serious health issue. This mind set can also now be provided to employees under the ACA. Now is the time for employers to be proactive and provide enrollment seminars for their employees. They can also offer individual coverage to their employees, who can also benefit from these advances. Without these advances, healthcare coverage was too costly, and thus, what was not possible to offer employees is now possible. Additionally, the employers’ cash flow struggle due to offering healthcare coverage to employees will now improve by offering individual coverage this year to their employees. Perhaps banks should learn from the government and provide advances to small businesses to help with monthly cash flow so businesses can focus on creating revenue, knowing their expenses are covered. This releases them from the endless juggling act of meeting expenses, cutting administrative personnel, and not being able to focus on creative ways to increase revenue. Maybe it’s time for big businesses to give back to small businesses by following the ACA’s model— helping business owners by providing the “peace of mind” that comes from giving employers a secure financial cash flow and financial health so they can secure their employees’ futures and create new revenue to secure their company’s future growth.
