'Small business owners' fear of the effect of the new health-care reform law on their bottom line is prompting many to hold off on hiring and even to shed jobs in some cases, a recent poll found.
"We were startled because we know that employers were concerned about the
Affordable Care Act and the effects it would have on their business, but we
didn't realize the extent they were concerned, or that the businesses were being
proactive to make sure the effects of the ACA actually were minimized," said
attorney Steven Friedman of Littler Mendelson. His firm, which specializes in
employment law, commissioned the Gallup poll.
"If the small businesses' fears are reasonable, then it could mean that the
small business sector grows slower than what economic conditions otherwise would
indicate. And small businesses have been a growth engine in the economy,"
Friedman told CNBC.
Forty-one percent of the businesses surveyed have frozen hiring because of
the health-care law known as Obamacare. And almost
one-fifth—19 percent— answered "yes" when asked if they had "reduced the number
of employees you have in your business as a specific result of the Affordable
The poll was taken by 603 owners whose
businesses have under $20 million in annual sales.' - Will Obamacare Hurt Jobs? It's Already Happening, Poll Finds, CNBC 06/19/2013
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