A Gallup survey published on Friday found that nearly half of U.S.-based small businesses see the Affordable Care Act (aka Obamacare) as bad for their businesses. Nine percent thought it would be good for business (they’re probably in the business of explaining the mess) and 39% said it would not affect their business. From the “implications” section of the survey report:
“…more important for the U.S. economy in the short term is what small-business owners say they are already doing in anticipation of the new law’s continuing implementation. About four in 10 say they are holding off on hiring and new growth plans. About one in five say they are letting people go or cutting employees’ hours. Even after discounting small-business owners’ political views, these actions suggest the ACA could be a significant drag on the U.S. economy — at least in the short term.”
The survey also uncovered that Obamacare had caused 41% of small business owners to hold off hiring new employees and had caused 38% to pull back on plans to grow their businesses. The nationwide landline and cell phone survey of 605 small business owners was conducted on April 1-5, 2013.
This does not bode well for Colorado, whose economy is quite dependent on small businesses. According to the Denver Metro Chamber of Commerce, “small businesses represent 97% of all employing businesses in Colorado, being a dominant source of new job creation in the State.” Between Obamacare’s crushing burdens and the Democratic legislature’s targeting of businesses during the past legislative session, why on earth would small businesses have any incentive to grow? Of course, the bigger question, perhaps, is why Coloradans put up with it.