Businesses Face Changes In 2013

RyanD
January 8, 2013

Though it may not seem like it in light of recent events, namely the fiscal cliff fiasco, politicians were able to agree on some new business laws that would take effect in 2013. Many of the changes in the laws are aimed at small businesses, who have felt they are being unfairly regulated by the Fed. This could be clearly seen during the presidential election campaigns of both nominees, who vehemently tried to win over the undecided votes with talks of lowering taxes and burdens on small business.

Funding and Investment
One of the laws that is to take effect in 2013 will change the way small business are allowed to raise start-up capital. USA Today reports that a piece of legislation called the JOBS Act was passed a few months ago by congress. The JOBS Acts, an acronym and pun standing for Jump Start Our Business Startups, would allow small businesses across the country to raise upwards of one million dollars from the public; before this measure was passed, small businesses were forced to take out loans, depending on their credit history, or enlist wealthy investors who, generally being well versed in the business world, produce contracts authorizing shares for themselves in whatever venture they are loaning money.

The Future of Healthcare
Whether businesses agree with the President’s healthcare platform, they are sure to feel the pressure in 2013 as the mandate for health insurance goes into effect in 2014. Businesses can fully expect a bombardment of advertisements and harassing phone calls from health insurance companies old and new. Larger business with an equivalent of fifty full-time employees, or 100 part-time employees, will feel increased pressure as they will soon be required to provide minimal health care to these employees, the consequence for failing to comply are hefty fines for each infraction. States will attempt to manipulate prices by providing their own health insurance exchange that will allow these small business and their employers to compare competitive carriers for which plan suites their needs and price ranges.

With the turn of the New Year, some businesses may find they are given an opportunity to succeed through the new start-up funds that will become available January 1. For business that are already established, unless an agreement can be reached in Congress, many fear they will be the target of massive tax hikes and that the economy will suffer a self-inflicted wound.

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