Discover has been surveying U.S. small business owners about the issues that affect them for more than four years through the Discover® Small Business WatchSM. The first poll about health care was conducted in 2008, when 40 percent of respondents offering health insurance to employees said they were considering discontinuing it because of cost. That figure had dropped to 29 percent last year, but rose 18 points to 47 percent in this year’s survey.
The majority (55 percent) of small business owners favor repeal of the health care law, 36 percent oppose it and 9 percent are unsure.
Forty-six percent say the new health care reform will hurt their small business, while 27 percent say the new plan will help, 16 percent say it will have no impact, and 11 percent are not sure. Eleven percent of small business owners report that obtaining affordable health care is “not very” difficult, while five percent report no difficulty and 15 percent are not sure.
“Small business owners are suffering from rising health care costs, and according to the survey, most don’t believe the current law is the solution,” said Ryan Scully, director of Discover’s small business card.
The percentage of small business owners reporting difficulty in obtaining affordable health care for themselves and their employees has grown to 69 percent, up 4 points from last year.
Thirty-eight percent of small business owners report health care costs having a major impact on their business, up 4 points from last year. Twenty-one percent report a minor impact, 32 percent report no impact and 8 percent are not sure.
