Home | Growth | Research reveals economic confidence gap in midsized businesses

Research reveals economic confidence gap in midsized businesses

By
Font size: Decrease font Enlarge font
Research reveals economic confidence gap in midsized businesses

Healthcare costs, complexities ObamaCare and regulation top concerns of midsized businesses.

A new study released today by the ADP Research Institute reveals a gap in confidence for midsized businesses when it comes to the U.S. economy. 

The study shows that while only 15% of midsized businesses are confident that the US economy will improve in the next 12 months, more than half, or 51%, expect they will see improvement in the industry in which they work. 

"In 2013 alone there were more than 19,000 proposed changes to laws and regulations that impact how businesses manage employees."

The annual study also uncovers top concerns of midsized business owners.  This year the cost of health coverage and other employee benefits, the complexities of ObamaCare and the level and volume of government regulations were the top three concerns of midsized businesses. 

"Midsized businesses, those that live between Main Street and Wall Street, are major drivers of the U.S. economy," said Anish Rajparia, President of Major Account Services at ADP.  "The concerns and trends highlighted in this report provide valuable insights into this significant, yet understudied business sector."

In its third year, the study examines the concerns, perceptions, challenges and plans of more than 750 business owners and executives at U.S. midsized companies.  This year's findings point to the following top three concerns for midsized business owners and executives:

  1. Sixty-nine percent are concerned with the cost of health coverage and other benefits
  2. Fifty-four percent are concerned with health care reform legislation
  3. Fifty-one percent are concerned with the level and volume of government regulations

Another key finding is that more than one-third of midsized businesses reported being fined or penalized for not complying with laws pertaining to how they manage their workforce.  Interestingly, of those fined, 58% did not know how much the fines cost and 47% did not know how many times they were fined.

"According to ADP internal data, in 2013 alone there were more than 19,000 proposed changes to laws and regulations that impact how businesses manage employees, so it comes as little surprise that the level and volume of government regulation made our list of top concerns three years running," added Rajparia.

Share this:

 

Join PRESIDENT&CEO on LinkedIn

Subscribe to comments feed Comments (0 posted)

total: | displaying:

Post your comment

  • Bold
  • Italic
  • Underline
  • Quote

Please enter the code you see in the image:

Captcha