Now that the employee benefits component of the Patient Protection and Affordable Care Act has been suspended, business owners say that they'll use the money saved to improve their company's capital, according to polling data.
A recent survey found that approximately 25 percent of small business owners say that the delay of the employer mandate will enable them to invest in technologies and equipment. Had it not been postponed, that money spent would have gone toward taking care of HR compliance issues in order to abide by the law's requirements.
The report also found that the money saved will, for many business owners, go toward recruitment procedures. The poll showed that roughly 50 percent of the more than 650 small business executives surveyed said they will increase the number of people that they employ. Only 9 percent said they would still cut back.
Job availability has been an issue, however, for many young adults. According to a recent survey conducted by Gallup, fewer young adults hold a full-time job. Approximately 43 percent stated that they worked at least 30 hours per week in June compared to 12 months ago when 47 percent indicated as much.
