Challenges for small business in 2015….

For small businesses, 2015 is shaping up to be a year for recovery.  While the economy appears to be rallying, it’s a good bet more hurdles will appear along the road to recovery. Keeping clear of obstacles will require company owners to take a new look at their business goals and strategies in some very key areas.

Three challenges small businesses will face in 2015 are:

Health Care

Even though changes to the Affordable Care Act’s small-business healthcare exchanges and employer mandate have pushed the deadline to 2015, now is the time small-business owners should start re-evaluating their existing health plans.

 Employee Compensation

With a strengthening economy and falling unemployment rate the issue of worker compensation will take on a renewed importance to small business owners.  Retaining key employees through attractive compensation packages will become as important to small business as their business and marketing plans.

Cyber-security

Most small businesses don’t think they could ever be the victim targets of cybercrime but about a third of all cybercrime in this country is targeted at small businesses, and it’s been growing rapidly.  Technology consultants as well as layers of sophisticated security software and equipment will become vital to small business operations.

Only time will tell whether 2015 turns out to be the year of economic recovery. With careful planning small businesses may have an opportunity to be successful no matter what the climate.