Small Business Finance News
Small Business Owners Benefiting From Benefit Packages
Written by Jenna Weiner
Published: 12/16/2010
Dedicated Benefit Services survey shows positive outlook
According to a survey of small business owners and high-ranking business professionals, many have been able to become more financially secure by investing in defined benefit plans.
More small businesses than ever have begun to offer benefit packages to their employees and have found that there are many tax advantages to be gained by doing so. The survey, conducted by Dedicated Benefit Services, asked 228 business owners about their outlook going forward in 2011. Forty percent of small business owners said that they expected their revenues to stay the same, while 32 percent said they expected profits to increase and 17 percent said that they expected lower revenue.
"Since DB plans must be established before the end of the tax year, now is the time for people to determine whether a defined benefit plan is right for them,” said Karen
Shapiro, CEO of Dedicated Define Benefit Services.
There was additional positive news for entrepreneurs after another survey by a business group revealed more positive feelings looking forward. The National Federation of Independent Business optimism index rose to a score of 93.2 in November, gaining 1.5 points since October.
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