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Retirement Benefits & Small Businesses

Date: 12/18/2006 | Category: Business | Author: Diana Heeb Bivona

A recent study conducted by Harris Interactive found that only 14% of small-business owners offer a 401(k) plan to their employees, and 63% do not offer any retirement benefits at all.  With small businesses employing half of all private-sector employees, their inability or lack of desire to provide retirement options  to their employees can have a significant impact on the workforce and their preparedness to deal with retirement.

Reasons cited as to why small-businesses do not offer retirement benefits included:

  • Didn’t have enough employees to make it worthwhile – 54%
  • Financial inability to match employee contributions – 28%
  • Unstable business circumstances – 26%

While setting up a retirement program for a small-business can be time-consuming, it does have its benefits.  The primary one being that it can make your company more competitive with larger companies that offer such benefit packages to their employees.

For more information contact https://www.incparadise.net, who can make process of starting a new business very easy at 888-284-3821.

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