Insurance tops small-biz concern

American City Business Journals

5/25/04

The top three concerns for small businesses are health insurance, liability insurance and workers' compensation, according to a study by Wells Fargo and the National Federation of Independent Business released Tuesday.

The survey of 4,603 small-business owners across the country asked them to rate 75 possible business problems on a scale from 'critical' to 'not a problem.'

Health care costs were rated critical by two-thirds of those who replied, compared with just 47 percent in 2000.

"The cost of health care is a critical concern that is prevalent across all regions, industries and businesses of all ages," said Bruce Phillips, NFIB senior research fellow, in a written statement about the report.

Other top problems listed by those who answered the survey were energy costs and electricity rates.