Small businesses in the year 2014 are expected to face a few more crucial issues that would play a critical role in running of companies. It won’t be wrong to say that in the coming year most of the small businesses are heading with plenty of uncertainty. Slow hiring and changing trends too are expected to affect the small businesses. Not to point out to the negative scenario, small businesses in the coming year may have to face implications and complications regarding the health care law as well.
Considering the current scenario, uncertainty is the bane of most of the small businesses. The only rational response will be dependent on pulling the horns and literally slowing down. Chances are that the small businesses may or may not get enough encouragement from the economy. Not everything is gloomy.
Let’s take a look at some of the issues that the small businesses are likely to face in the year 2014.
Taxes
Tax makers are still hanging this issue and we would interestingly call it fiscal cliff. Not to mention, budget cuts and the increase in taxes are also going to have a good impact on the pace of growth for the small businesses. Even if an interesting agreement is reached, small businesses may still struggle to thrive on the kind of certainty they have been expecting since long. We are sure to discuss on the issue every year and it is an issue that is going to take time to resolve. If the scenario doesn’t change for good then the negotiations and uncertainty are sure to raise other issues in the coming year.
Now the good news is that you can expect the deduction any time. For the time being, it can be said that business owners should not just focus on getting the big break of their corporate life. Tax rates are going to pose huge changes for the small companies that are looking to making bigger investments. All these are going to affect the retailers and the other small businesses in the process, particularly the ones that are involved in selling directly to public.
Shortage of skilled workers
Most of the small businesses are struggling from this issue, they know how tough it is to find the skilled workers in the market. They hardly have the desired talents willing to join them to fill in some of the crucial job positions in their companies. Most of the manufacturing companies are looking for high-tech skills and settling for anything less is not convincing to them.
Few job positions require exhaustive training but a basic skill set is required and unfortunately small businesses are made to compromise on that. Since the trends in working style and changes in technology are becoming evident, business owners are finding it really hard to find the qualified workers; issues are expected to continue in the year 2014.
Health care
Health care is definitely one of the other resources in line that are making things uncertain for the small business in the upcoming year. Health care laws in the coming time are going to affect us all and more importantly, the small businesses.
Most of the small businesses should consider devoting some time understanding and analysing all aspects of law relating to health care. If they are planning to expand overseas then understanding the same on the global level should have an impact on the running of the business too.
Lot of small business owners are still unsure on the fact whether they will have their states creating some forms of exchanges or whether they will be required to go a bit into the national system. On the other hand, they are still going to be unsure about how these changes are going to affect the costs.
Other issues that the small businesses in the year 2014 are going to face are concerns relating with onshoring and lending. It’s time for small business to gear up and pull up their socks because the market of 2014 is going to bring them plenty of challenges. If they can cover up for their losses and focus on the drawbacks, they are sure to reach the pinnacle of success in no time. However, sustaining the elevated position is going to be yet another challenge.
About the Author: This article is contributed by Samme who is associated with a leading UK based supplier of Office Cable Protectors – CableProtector.co.uk. Click here to visit the Office Cable Protectors landing page.
