ADP: Confidence among mid-size firms mixed
Most owners of mid-size businesses in the United States are confident their industries will perform better over the next year, but they’re not as confident about the economy, according to the results of a survey from payroll processor ADP.
Fifty-one percent of owners and executives at mid-size businesses – those with anywhere from 50 to 999 employees – are confident their industries have a better year ahead. But only a paltry 15 percent have that same faith in the broader economy.
Most owners of mid-size businesses also expressed concern over health care; 69 percent say they’re “extremely concerned” or “very concerned” over the costs of healthcare benefits, while 54 percent expressed the same level of concern over the federal Affordable Care Act (ACA), also known as Obamacare. However, that level of concern fell slightly, from 59 percent, from ADP’s last survey in 2013.
As for dealing with the ACA, most businesses – 56 percent – have cut the costs of providing their employees with medical insurance, while 46 percent have offered or are in the process of offering wellness programs.
Also, 51 percent said they were extremely or very concerned over the level of government regulation that affect or could affect their companies (down slightly from 51 percent last year). In addition, the survey found that one-third of owners of mid-size businesses experienced fines and penalties for not complying with government regulation, yet half of them could not say how much they paid in penalties.
ADP said mid-size businesses account for about one-third of private-sector economic output and 45.6 million jobs. The survey, of more than 750 business owners and executives, was conducted online in July and August.
WBJ Web Partners
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