Small Businesses Fret the Finances


What keeps small business owners up at night? The things they can’t control, according to a study by the National Federation of Independent Business, sponsored by Wells Fargo.

The Small Business Problems and Priorities survey, based on responses from 3,530 small business owners, asked respondents to rate each of 75 possible business problems on a scale of 1 to 7 with 1 being "critical" and 7 being "not a problem."

Half of the top 10 problems worrying small business owners were costs, such as health care and energy. The remaining top 10 problems fall under tax, such as federal taxes on business income, property tax (real, inventory or personal property), tax complexity, and state taxes on business income.

The cost of health insurance continued its 20-year run as the No. 1 problem, with more than 55% of respondents saying it was "critical."

Source: National Federation of Independent Business, www.nfib.com.

 

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.