While many entrepreneurs have been able to put off addressing concerns about employee benefit management due to the mandate being postponed until 2015, that wasn't enough to drive up sentiment significantly among small business owners.
In a year-end survey performed by National Federation of Independent Businesses, the trade association found that its optimism index finished having increased from November, but still below the pre-recession average.
Bill Dunkelberg, chief economist for the NFIB, indicated that even though the recession may have ended officially several years ago, the effects aren't being felt by people today who own companies. However, there is sufficient reason to be optimistic about what lies ahead.
"While there has been no sign that a real recovery has begun, we can be encouraged that the economy is at least crawling forward and not heading in reverse," said Dunkelberg. "Some segments of the economy are showing improvement – manufacturing, construction and professional services – but consumer spending, especially on services, has lagged."
He cautioned, though, that there are more than a few issues that could hamper growth. This includes the current political climate in Washington, the issues stemming from the health care reform law and the looming threat of another debt ceiling debate on Capitol Hill. Many business owners believe these are sufficient reasons for why it's not the ideal time to expand.
As an alternative, many business owners may be focusing on the workers they already have by improving their financial standing. In a separate survey recently performed by talent management firm Aon Hewitt, more than three-quarters of company owners surveyed said that they would devote more of their attention to advancing employee well-being, such as by making employee benefit consulting available to them.
