October 23, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Startup News

 

Small Businesses Should Be Looking At Retirement Plans

Written by Ken Gaebler
Published: 3/2/2011

Retirement plans are not out of reach for small businesses, especially 401(k) plans.

Small business owners have a lot on their minds. As the economy continues to emerge, albeit slowly, from the recession, news for entrepreneurs has been increasingly focused on hiring, healthcare and consumer spending trends.

Entrepreneur Startup Potential

However, retirement plans may not be center stage in entrepreneurs' minds. In fact, according to a blog post in Forbes by Stuart Robertson, only 15 to 20 percent of small businesses with fewer than 50 employees have a retirement plan.

As a result, Robertson believes it's time to clear up a few myths that bar owners from investing in 401(k) plans. First of all, no business is too small for this type of program. Even self-employed individuals are eligible for an Individual or Solo 401(k).

Furthermore, expense should not be a deterrent. The government offers a number of tax credits and deductions that can significantly improve an owner's tax situation.

For example, ShareBuilder 401k, a subsidiary of ING Direct, told MSN Business On Main that a company with two to 15 employees should pay no more than $1,200 a year for a 401(k) plan.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:

 


About Our Breaking Entrepreneurial News

Our small business news site is packed with useful information for business owners. Learn about small business management, financing, marketing & technology.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools

Economics

Lists of Small Business Incubators

Lists of Angel Investors