Obamacare and the Future of Small Business
When the rules are murky or arbitrary or unknown, business people stop investing, hiring and deciding. And nothing is murkier than Obamacare.
Read what Martin Mucci, CEO of payroll provider for small businesses Paychex (PAYX), had to say about the changes in Obamacare on the recent earnings call.
Martin Mucci, CEO of Paychex (PAYX):
“I think what we’re finding is just there have been so many changes in healthcare reform in dates that the clients are more sitting back a little bit. So even though we had the products out pretty early, we are getting some traction on the products because clients have to start to understand right now what changes they may have to make in part-time/full-time; when they hire the next person, what kind of impact that’s going to have to them, particularly if they’re around the 50 mark. And so I think it’s going to pick up a little bit towards the end of the summer, but it’s still been slower than we expected, and I think that’s because of the changes.”
Source: Bloomberg Orange Book
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