5 Worries Small Business Owners Face

2 min read · 7 years ago


A LinkedIn article titled “You’re not alone! 5 worries small business owners face,” says self-employed people, entrepreneurs and business owners, as opposed to “people with the ‘regular’ 9-5 jobs…must keep the business doors open, keep employees paid, customers happy, the electricity on, their business flowing and growing all while trying to find time to do things like eat.”

In fact, LinkedIn is so considerate of your time, they placed a note above the article that reads, “Estimated reading time: 5 minute(s),” letting you know upfront how long it will be before you can get back to your extensive to-do list.

No. 4 in their article is “Finding and keeping good employees.” The author offers training and business culture suggestions, and we have one more: a strong benefits package.

Find out what other small businesses are doing about benefits, hiring and compensation. This short fact sheet titled “Small business trends” includes findings from the 2015 Aflac WorkForces Report such as:

  • 59 percent of employees at small businesses are at least somewhat likely to accept a job with slightly lower pay but better benefits.
  • To save money on rising health care costs, in 2015, 17 percent of business decision-makers planned to increase employees’ insurance copays and 20 percent planned to increase employees’ share of premium. Twelve percent planned to lay off staff and 18 percent planned to eliminate or delay raises.
  • 61 percent of employees at small businesses reported having less than $1,000 to pay for unexpected out-of-pocket medical expenses; 33 percent of employees have less than $500.
  • 14 percent of employees have been contacted by a collection agency about outstanding medical bills.

The 2015 Aflac WorkForces Report is the fifth annual Aflac employee benefits study. The study, conducted in February 2015 by Research Now, captured responses from 1,977 benefits decision-makers and 5,337 employees from across the United States. To learn more about the Aflac WorkForces Report, visit AflacWorkForcesReport.com.