With another four years of U.S. President Barack Obama, the impact on small businesses is up in the air.
A divided Congress is expected to bring the same problems on tax rates for small businesses that were seen during the last four years. But things may improve slightly.
“Congress will be more willing to work with the president on these small business-targeted tax policies,” John Arensmeyer, chief executive officer of Small Business Majority, tells The Associated Press.
Recent bipartisan support in Congress shows that Arensmeyer may be right.
Health Care reformations have been considered a major problem for small businesses, with some business owners saying the reforms take chunks out of their profits that they can’t afford. Key provisions that declare a company with 50 or more full-time employees must provide health insurance will be implemented in 2014, a possible remedy to the ongoing problem.
Though regulations have seemingly constricted small businesses nationwide, in the next four years, businesses can hope to encounter friendlier regulations designed to help them.
For more, read The Associated Press story here.