Three obstacles small business owners can expect to face in 2017
With only 29 days left in 2016 and 47 days left until Inauguration Day, small businesses are planning their future under a Trump Administration.
So what can small business expect in the year 2017? And what are the biggest challenges small business may face in the new year?
The Biz Journal recently surveyed more than 1,100 participates who own or manage a business to gather what they assume are the biggest challenges small businesses will face in 2017. The survey results included the following:
- Hiring — “Hiring remains a challenge for small businesses as they anticipate growth while managing overhead costs.”
- Profit — “Improving customer experience and retention is key to furthering success.”
- Healthcare — The premium cost for health care insurance has doubled since 2001 from $2,889 to 5,963 in 2015. Many small businesses are dropping insurance due to the high premium rates. These challenges will continue into the New Year.