|Submit your small business story|
I am a restaurant owner, and I have had this restaurant for over 16 year. I have over 10 employees currently, some part-time, and some full time. It is not I don't want to provide health care for my employee, I just can not afford. Obama's health care plan will put me out of business. My business just does not have extra money pay for employees health care. With the minimum wage increase to $7.25, my business is going to under a lot of pressure. I really don't know what else to do, I already work over 70 hour a week try to save some labor cost. I just want to Obama give our small business break. All small business owner work really hard to try to stay in business. I know a lot of small business owner don't even have insurance for themselves.
National health plan will kill business.
I work for a major health insurance company. We have already felt the effects of the economy on our company and are afraid we will not survive at all with Obamacare. We have a hiring freeze on right now. Many contractors that we use for projects have not had their contracts renewed. Many growth projects have been put on hold. Many fears layoffs will come. They have already told us they are looking at our retirement benefits and to expect change. Is this the change Obama promised? If we get national health care, this will probably force our health insurance company out of the private sector. Then I guess we won't have to worry about the change in our retirement benefits because we also won't have a job anymore. Thousands more people from a health insurance company, to boot, will be needing health insurance and a job. Yes, this is change we can believe in.
For us it is not a matter of hire/fire, but very much a matter of possibly dumping the health insurance we have for our managers (paid 100% by our company) because there's no way we can afford to cover our p/t employees too. If coverage is mandated for everyone in the company we are better off taking the 8% payroll penalty, thus dumping everyone, including top brass (me,too) into the public health system. After seeing the rules today such as must pay 72% of employee's cost AND pay 64% of dependent costs, it took me less than five minutes to do the math on that one.
I am President of a small (250 employees) directional drilling company. We are the embodiment of the American dream. Starting with seven employees in 2003 we worked hard and now provide good paying jobs and a nice benefit package, including health care for all of our 250 employees. Our future is in jeopardy because of the one two punch of Cap and Trade and Government Health Care reform. If corporate taxes are increased to pay for this anvil around our necks then I doubt that we will be able to survive much less compete with the giants in our industry (Halliburton, Schlumberger, Baker Hughes). We have already reduced salaries, furloughed over 30 employees and are considering reducing the benefits we provide. Stimulus? What’s that? Obama is no friend to small business. The only decent jobs that will be left if Congress rolls over are government jobs. Those will be short lived because hard working schmucks like me won’t be feeding the pigs at the trough.
My partner and I are consultant engineers in the business jet aviation industry. As luxury items go in a recession, the current economy has taken a big hit on our business. Two of our employees have left our company and we have not replaced them. Instead, we use part-time contractors on an as needed basis. With that said, 2 full time employees could be hired. However, we will not be hiring anyone near term with the current economy, threat from Obamacare, and the threat of increase income taxes. We are going to wait to evaluate the economic outlook and additional government cost burden before making any new investment decisions.
I am a small business owner on Long Island, New York. I started my business 35 years ago from my kitchen table in my 1 bedroom apartment, and today I have two locations and employ over 20 people. I personally work 6 days a week, a minimum of 10-12 hours a day, and have not taken a vacation in over 17 years. I cover my employees (and families) with a terrific health insurance plan, I have a matching 401K plan, and pay an above industry average salary to all of my employees.
Well guess what ... If this Health Plan is passed by Congress and I have to personally pay anywhere from 1% to 5.4% PENALTY, if my company has to pay additional taxes, if my deductions are reduced or eliminated, I WILL SHUT MY DOORS AND FIRE ALL 20 PEOPLE.
I am done being punished, ridiculed, and made a fool of because I took the American Dream by the horns and made a success of myself.
Let somebody else (the government) employee these 20 people. I will shut down within a month, move out of New York "Tax and Punish The Successful" State, and never contribute another red cent to any charity, cause, or non-profit again.
I AM DONE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I am the Controller for a small wholesale distributor in CT. I have to say that with the current tax rate we had a rather large tax burden for 2008. 2008 was our best year ever, for profits. As cash flow and profit are not the same thing the amount we paid out in taxes was quite high and with 2009 looking thin - and it has been - we had to lay off one full time and one part time employee. We now have only 13 people on the books. So percentage wise, if you look at the part timer as a 1/2 of a person we reduced about 10%. With the new burdens we are potentially facing I would say that one or two more people may have to go. The owners have cut their salaries back substantially, I have cut myself back by 20% and our hourly people have been cut back a couple of hours a week. As we work for a great family the owners have taken the bulk of the burden on themselves and are very hesitant to cut back on the employees. But they can't do that forever.