A recent survey by Comprehensive Business Services found insurance was the biggest financial headache for entrepreneurs. A study conducted among managers of small businesses (those with revenue between $100,000 and $1 million) found federal taxes were a close second on the financial worry list followed by the current economic climate and workers' compensation. Farther down were interest rates, obtaining funds and accounting systems and requirements.
Entrepreneurs who have been in business less than five years drink much more coffee than their seniors. A recent study found 37 percent of the new business owners drink five or more cups of coffee daily. Only 29 percent of those in business six to 20 years consume that much caffeine. The long hours and high stress of a new business seem to create the java junkies.
Who's the Culprit?
Local taxes may be to blame for higher price tags. Combined city, county and state sales tax grew to an average of 8.17 percent last year -- up slightly from 8.15 percent in 1994. That increase, however, comes after 30 states reduced their cut of the sales tax pie. Summer Reading List
What are business people reading? Four of the top five books on the business best-seller list focus on money, taxes or investing. According to Waldenbook Co., the top five are:
• Your Money or Your Life, Joe Dominguez and Vicki Robin
• The 1996 What Color Is Your Parachute, Richard Nelson Bolles
• J.K. Lasser's Your Income Tax 1996, J.K. Lasser
• Beardstown Ladies' Common-sense Investment Guide, The Beardstown Ladies Investment Club
• The Warren Buffet Way, Robert C. Hagstrom.
Benefits Now Nearly 1/2 of Payroll
Total employee benefit expenses including vacations, discounts and tuition payments now account for 40 percent of a company's payroll even though employer health premiums have decreased. The findings come from "1995 Employees Benefits Survey" available for $19 from the U.S. Chamber of Commerce, Publication Fulfillment, 1615 H. St. N.W., Washington, DC 20062.